Search Dictionary

Definition of 'Cryptocurrency'

Cryptocurrency is a form of digital or virtual currency that is secured by cryptography, which makes it very difficult to counterfeit or double-spend. Cryptocurrencies use decentralized technology, which means that they operate independently of a central bank or government, and rely on a distributed ledger called a blockchain to record and verify transactions. Cryptocurrencies are often designed to be scarce, with a limited supply that is predetermined by the technology, and their value is typically determined by the market forces of supply and demand. Examples of cryptocurrencies include Bitcoin, Ethereum, Litecoin, and many others. Cryptocurrencies can be used for a variety of purposes, such as a means of exchange for goods and services, an investment, or as a store of value.

Do you have a trading or investing definition for our dictionary? Click the Create Definition link to add your own definition. You will earn 150 bonus reputation points for each definition that is accepted.

Is this definition wrong? Let us know by posting to the forum and we will correct it.