cryptocurrency

noun

cryp·​to·​cur·​ren·​cy ˌkrip-tō-ˈkər-ən(t)-sē 

-ˈkə-rən(t)-sē

plural cryptocurrencies

: any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions

Virtual currency bitcoin hit the mainstream in 2014. Bitcoin ATMs started springing up all over the world … , allowing people to exchange cash for the cryptocurrency, a secure digital payment outside of conventional financial institutions.

—Brenda Poppy

Examples of cryptocurrency in a Sentence

Recent Examples on the Web

Eurojust said that one of the main suspects earned cryptocurrency worth at least 69 million euros ($74 million) by renting out criminal infrastructure for spreading ransomware. —Eleanor Pringle, Fortune Europe, 30 May 2024

Always nipping at Bitcoin’s heels, Ethereum—the second-largest cryptocurrency—seemed like the natural next candidate. —Leo Schwartz, Fortune, 28 May 2024

In Taiwan, an A.I. rendering of the outgoing president, Tsai Ing-wen, seemed to promote cryptocurrency investments. —Steven Lee Myers, New York Times, 23 May 2024

Last year, Lauren launched Crypto Café, an online platform built around demystifying cryptocurrency. —John Russell, Peoplemag, 22 May 2024

Word History

Etymology

crypto- + currency

First Known Use

2009, in the meaning defined above

Kids Definition

cryptocurrency

noun

cryp·​to·​cur·​ren·​cy

ˌkrip-tō-ˈkər-ən(t)-sē,

-ˈkə-rən(t)-sē

: any form of currency that only exists digitally, that usually uses a decentralized system for issuing new units and reording transactions, and that relies on cryptography to prevent fraudulent transactions