medium of exchange

noun phrase

: something commonly accepted in exchange for goods and services and recognized as representing a standard of value

Examples of medium of exchange in a Sentence

Recent Examples on the Web
These examples are automatically compiled from online sources to illustrate current usage. Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
Even for stablecoins, whose sole purpose are to be used as a medium of exchange, the tax liability and reporting purposes remains exactly the same as for cryptocurrencies such as bitcoin. Sean Stein Smith, Forbes, 5 Oct. 2024 Only a small number of these people appear to be using crypto as a medium of exchange, given its dramatic fluctuations in value. Charles Bethea, The New Yorker, 27 Sep. 2024 Proponents of intrinsic value claim that these industrial uses give gold an inherent worth beyond being a medium of exchange which Bitcoin lacks. Ansel Lindner, Forbes, 20 Sep. 2024 Why People Still Buy Gold Despite the risks and drawbacks of gold, its historic role as a store of wealth and medium of exchange can be reassuring to investors during times of economic uncertainty and geopolitical instability. Jonathan Dash, Forbes, 18 Sep. 2024 If the effort succeeds, China is likely to extend its use to countries that participate in its Belt and Road Initiative, expanding the renminbi’s reach as an international medium of exchange and possibly threatening the dollar’s preeminent status. Jared Cohen, Foreign Affairs, 13 Oct. 2020 The three most frequently cited use cases for stablecoins are as a medium of exchange, as a store of value, and as a trading asset. Mark Lurie, Forbes, 29 Mar. 2024 Pundits often argue that stablecoins are mostly used as a medium of exchange, pointing to their high overall onchain velocity (1% per day) as evidence. Mark Lurie, Forbes, 29 Mar. 2024 This would dramatically improve Coinbase users’ ability to use bitcoin as a medium of exchange, allowing more people to adopt and use the most advanced money technology ever invented. Dave Birnbaum, Forbes, 28 Feb. 2024

Word History

First Known Use

1714, in the meaning defined above

Time Traveler
The first known use of medium of exchange was in 1714

Dictionary Entries Near medium of exchange

Cite this Entry

“Medium of exchange.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/medium%20of%20exchange. Accessed 8 Nov. 2024.

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