virtual currency

[ vur-choo-uhl kur-uhn-see, kuhr- ]

noun

1. an unregulated currency available only in electronic form that is issued and controlled by its developers and usually used within a specific online community: Compare cryptocurrency ( def 1 ), digital currency ( def ).

   The game is free to play, but you must make purchases in the app if you want virtual currency to spend.

   As a virtual currency, bitcoin has less stability than a currency issued by a central bank.

Usage Note

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

Word History and Origins

Origin of virtual currency¹

First recorded in 1995–2000

Example Sentences

On Sunday, Karpeles resigned from the board of the Bitcoin Foundation, which oversees and develops the virtual currency.

From The Daily Beast

Bitcoin is a virtual currency that is produced by a computer program and is supposed to be extremely secure.

From The Daily Beast

Until recently, the Costa Rican–based firm was, as Cohen put it, “the virtual currency of choice for the bad guys.”

From The Daily Beast

And then there is RocketHub, the self-anointed clearinghouse for “creative underdogs” that utilizes a virtual currency.

From The Daily Beast

Female players also spent twice as much as male players on virtual currency.

From The Daily Beast