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see virtual currencyvirtual currency,
a means of payment that is electronically created and stored, more specifically an unregulated electronic medium of exchange that operates like a currency but is created and controlled by computer software; also called digital currency.
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(CRYPTOgraphic CURRENCY) A digital currency in which the transaction of sending money from one party to another is encrypted via public key cryptography. The identity of the sender is thus kept private much like paying for merchandise with cash in the physical world.

In 2009, Bitcoin was the first decentralized cryptocurrency to use a public ledger of its transactions, known as the "blockchain." Since then, other cryptocurrencies have been introduced, including Litecoin, Namecoin, Peercoin, Mastercoin, BlackCoin and Dodgecoin.

Like a Share of Stock
Except for Sharia-conforming OneGram, which is backed by physical gold, the value of a cryptocurrency is based on the market and fluctuates like a share of stock. See Bitcoin, blockchain and public key cryptography.
References in periodicals archive ?
Top company categories include crypto currency, mobile payments and card processors.
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Mr Wells added: "Bitcoin is an online currency, known as a crypto currency.
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Crypto Currencies: Bitcoin is the first crypto currency to make major inroads as an alternative to national currencies.
Odinsson -- who declined to give his real name and said he derived his pseudonym from Norse mythology -- said he hoped Auroracoins could mimic the success of Bitcoins, the most widely-used crypto currency.
This is another major step in the implementation of our business plan to become a major provider of crypto currency and transactional verification mining solutions.
The firm said that the crypto currency could be used for international money transfers, trade finance, syndicated lending and collateral management.
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io is a platform provider which specializes in the provisioning of Bitcoin crypto currency solutions for the iGaming sector.