cryptocurrency Definition
a digital currency that uses encryption techniques to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank..
Using cryptocurrency: Examples
Take a moment to familiarize yourself with how "cryptocurrency" can be used in various situations through the following examples!
Example
Bitcoin is a popular cryptocurrency.
Example
Many people invest in cryptocurrencies like Ethereum and Litecoin.
Example
Cryptocurrencies are decentralized and operate on a blockchain network.
cryptocurrency Synonyms and Antonyms
Synonyms for cryptocurrency
- crypto
- digital currency
- virtual currency
Phrases with cryptocurrency
the process of generating new units of cryptocurrency by solving complex mathematical problems using computer hardware
Example
He spends most of his time mining cryptocurrency to earn a profit.
a software program that stores private and public keys and interacts with various blockchain networks to enable users to send, receive, and monitor their cryptocurrency holdings
Example
She uses a cryptocurrency wallet to manage her Bitcoin and Ethereum holdings.
a fundraising method for new cryptocurrency projects, where investors can purchase new tokens or coins in exchange for established cryptocurrencies like Bitcoin or Ethereum
Example
The ICO for the new cryptocurrency project raised millions of dollars in just a few hours.
Summary: cryptocurrency in Brief
A 'cryptocurrency' [krip-tuh-kur-uhn-see] is a digital currency that uses encryption techniques to regulate the generation of units of currency and verify the transfer of funds. It operates independently of a central bank and is decentralized, meaning it operates on a blockchain network. Examples include Bitcoin, Ethereum, and Litecoin. 'Mining cryptocurrency' involves solving complex mathematical problems using computer hardware to generate new units of cryptocurrency.
