Cryptocurrency

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Definition: Cryptocurrency

Cryptocurrency
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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.

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Cryptocurrency. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
October 09, 2024 https://payrollheaven.com/define/cryptocurrency/.
Chicago Manual of Style (CMS):
Cryptocurrency. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/cryptocurrency/ (accessed: October 09, 2024).
American Psychological Association (APA):
Cryptocurrency. PayrollHeaven.com. Retrieved October 09, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/cryptocurrency/

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.