Cryptocurrency

Definition

A purely digital form of money. The first cryptocurrency that began trading online was Bitcoin in 2009. The main difference between cryptocurrency and physical currency is that only a fixed amount of cryptocurrency is produced by the entire system as a whole. No one person or the government has the authority to create more cryptocurrency and the rate at which it is produced is bounded by a set value and the information is publically available. There are almost 15 different types of crytocurrency, with Bitcoin being the most popular.

Use Cryptocurrency in a sentence

Cryptocurrency has been gaining popularity mainly due to the recent surge in Bitcoin trading that has been occurring on the internet.

​ Was this Helpful? YES  NO 5 people found this helpful.

Show more usage examples...

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
crush spread CSD