Masturbation is defined as “manual stimulation of the genital organs (of yourself or another) for sexual pleasure. (Princeton, 2012)” With that being said, it is sexual stimulation using your hands, not sexual intercourse. Intercourse is defined as “sexual activity between individuals, especially the insertion of a man’s penis into a woman’s vagina until orgasm and ejaculation occur.” Since you are not actually penetrating another living being – it is not considered losing your virginity. So, rest assured – you’ve still got your V-Card.

Sources:

Definition of Masturbation and Intercourse: http://wordnetweb.princeton.edu/perl/webwn?s=masturbation