Business, Legal & Accounting Glossary

Definition: Cryptocurrency


Full Definition of Cryptocurrency

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.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Cryptocurrency. Payroll & Accounting Heaven Ltd.
November 29, 2023
Chicago Manual of Style (CMS):
Cryptocurrency. Payroll & Accounting Heaven Ltd. (accessed: November 29, 2023).
American Psychological Association (APA):
Cryptocurrency. Retrieved November 29, 2023
, from website:

Definition Sources

Definitions for Cryptocurrency are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 11th August, 2022 | 0 Views.