cryptocurrency
bitcoin
A decentralized digital currency that operates without a central bank, using blockchain technology to record transactions.
Example
"She bought one bitcoin in 2015 for $300 and sold it years later for significantly more."
💡 Memory Tip
BIT-coin — bits are the smallest unit of computer data. Bitcoin is digital money made of bits.
Etymology
Coined by Satoshi Nakamoto in 2008 — 'bit' from computer data bits and 'coin' from currency.
Common Misspellings
bit coinbitconbitcoinnbitcion
Related Terms
See Also
wallet