Share this entry

bitcoin Syllabification: bit·coin
Pronunciation: /ˈbitˌkoin/
(abbrev. BTC)

Definition of bitcoin in English:

noun

1A type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank: bitcoin has become a hot commodity among speculators If you want to buy something using bitcoin you need to make sure the seller accepts the cryptocurrency
More example sentences
  • In October 2010, the price of bitcoin used to be 0.90.
  • I paid for my domain in bitcoin.
  • For example, if bitcoin becomes successful, the way anarchists and hackers like it, it will extremely hard to centralize money ever again.
1.1A unit of bitcoin: bitcoins can be used for online transactions between individuals
More example sentences
  • I've never purchased anything illegal with bitcoins.
  • The transaction may take a few days to complete, but you'll receive a notification when the Bitcoins have been safely transferred to your wallet.
  • As prices go up, people who currently hold Bitcoins develop greater and greater expectations for the currency.

Origin

Early 21st century: from bit4 + coin.

Definition of bitcoin in:

Share this entry

 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources