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Definition of Cryptocurrency by Merriam-Webster


| ˌkrip-tō-ˈkər-ən(t)-sē
How to pronounce cryptocurrency (audio)

, -ˈkə-rən(t)-sē

: 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


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