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.

   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

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

Investigators also identified a shell company possibly used to launder the advertising revenue, which totaled to around $6.2 million, and an investment of $200,000 in cryptocurrency.

From Los Angeles Times

The businessman denied connection to this offer, saying he had no plans to monetise the paintings and that he was financially secure thanks to cryptocurrency investments.

From BBC

He said it could be increased if Police Scotland was able to use some of the funds to hire forensic accountants, specialist lawyers and cryptocurrency experts.

From BBC

She said funds deposited with Aston Martin originally came from a Coinbase cryptocurrency account, which had held multiple cryptocurrencies purchased with funds derived from the Tate brothers' business activities.

From BBC

“The environmental impacts of cryptocurrency mining are well known,” said Dylan Plummer, an elected representative for the Sierra Club’s union, which is affiliated with the broader Progressive Workers Union.

From Los Angeles Times