is cryptocurrency money 
cryptocurrency has many of the properties of money and is sometimes used as a medium of exchange for transactions many governments consider cryptocurrency to be a taxable asset but very few give it the same legal treatment as a foreign currency some jurisdictions notably el salvador have embraced cryptocurrency the bottom linemoney is some item of value that allows people and institutions to engage in transactions that result in an exchange of goods or services money has to be exchangeable convenient to carry recognized as legitimate by all physically long lasting and have a value that s stable money comes in various forms including precious metals currencies and money substitutes at this time though cryptocurrencies have some of the properties of money they function without a central authority and aren t backed by governments while cryptocurrencies such as bitcoin are considered property for tax purposes by the irs they aren t considered legal tender by the u s government 9