Currency Currency A currency (from , "in circulation", from ), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a "system of money" (monetary units) in common use, especially in a nation. Under this definition, US dollars, British pounds, Australian dollars, European euros and Russian ruble are examples of currency. These various currencies are recognized as stores of value and are traded between nations in foreign exchange markets, which determine the
Virtual currency law in the United States a percentage of these transactions. The Bitcoin exchange company Coinbase offers a payment service that allows merchants to receive Bitcoin and then automatically exchange the Bitcoin into fiat currency. The speed of this exchange helps merchants to avoid the volatility of Bitcoin. In September 2014, Ebay announced that its payment processor Braintree will be accepting Bitcoin. As of November 2014, the market capitalization of Bitcoin is just below $5 billion, but has reached historic highs close to $14 billion. The growth of Internet use and the virtual world is also increasing. World Internet use increased from 15.8% in 2005 to