a medium of exchange is any item that is widely acceptable in exchange for goods and services. In modern economies, the most commonly used medium of exchange...

repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a...

is often defined in terms of the three functions or services: as a medium of exchange, as a store of value and as a unit of account. Money's most important...

because the individuals who use it as a unit of account – or, in the case of currency, a medium of exchange – agree on its value. They trust that it will...

of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange...

authorities. Originally designed as a medium of exchange, Bitcoin is now primarily regarded as a store of value. The history of bitcoin started with its invention...

A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition...

barter, other kinds of in-kind transactions also suffer from the coincidence of wants problem in the absence of a medium of exchange. Romance, for example...

store of value, a medium of exchange, and a unit of account. According to The Economist in 2014, bitcoin functions best as a medium of exchange. In 2015...

study of money, considered it to be one of four fundamental functions of money, the other three being medium of exchange, store of value, and unit of account...