cryptocurrency

[ krip-toh-kur-uhn-see, -kuhr- ]

noun

1. currency that exists only in electronic form, operates on a decentralized system of exchange, and uses advanced cryptography for security, or any individual currency of this type: Compare digital currency ( def ), virtual currency ( def ).altcoin ( def ), bitcoin ( def 1 ).

   Some expect cryptocurrency to become the dominant means of financing trade between markets.

   This particular cryptocurrency has a huge following among retail traders.

adjective

1. being or relating to virtual currency that uses advanced cryptography for security:

   They are one of the largest cryptocurrency exchanges on the internet.

   She got caught running a cryptocurrency scam.

Usage Note

What's the difference between cryptocurrency, virtual currency, and digital currency? See digital currency ( def ).

Word History and Origins

Origin of cryptocurrency¹

First recorded in 2005–10; crypto- + currency

Example Sentences

Gary Wang, co-founder and chief technology officer of FTX, was sentenced to no time in prison on Wednesday, two years after the cryptocurrency firm collapsed and faced accusations of defrauding customers.

From Salon

Logan Paul, the massively popular social media personality, is facing fresh questions over his cryptocurrency dealings amid ongoing concerns he may have profited from misleading fans.

From BBC

He still runs financial firms that serve corporate clients and cryptocurrency platforms, among others, and as commerce secretary he would help select leaders of agencies that regulate those firms, the Times reported.

From Salon

In September, Trump endorsed World Liberty Financial, a cryptocurrency firm promoted by his sons Eric and Donald Jr., who have encouraged cryptocurrency as an alternative to what they describe as an anti-conservative banking system.

From Salon

Bitcoin is gaining again on Tuesday, extending a volatile post-Election Day rally that has pushed the market value of all cryptocurrencies above $3 trillion.

From New York Times