Finance Dictionary
Cryptocurrency
Definition
A digital or virtual currency that uses cryptography for security.
Deep Dive
Cryptocurrency is a digital or virtual currency that uses cryptography for security, making it extremely difficult to counterfeit or double-spend. Operating on a decentralized public ledger known as a blockchain, cryptocurrencies are not issued by a central authority, making them immune to government interference or manipulation. This decentralization and peer-to-peer nature are core tenets that distinguish them from traditional fiat currencies.
Examples & Use Cases
- 1Bitcoin (BTC)
- 2Ethereum (ETH)
- 3Litecoin (LTC)
Related Terms
BlockchainDecentralizationDigital Asset