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currency ??
We have been seeing how the world is heightening and advancing with
the utilization of computerized resources where everything is becoming
paperless now., in a similar race, cryptographic money is the freshest
and most sensible structure developing to the advanced installment
region. The technological revolution has even reached the financial
system. We evolved from the barter system to the use of cash. But now
even print money is slowly being replaced by digital money.
Digital currency refers to any means of payment that exists in purely
electronic form. It is intangible and is available only in digital form like
electronic wallets. It is accessible only through computers or mobile
phones. In contrast, the print currency that is banknotes or minted coins
are available in physical form and can be used for transactions only by
their holders. A digital currency has many congenital features of print
money. It can be used for transactions just like any standard fiat
currency though its use is restricted to certain online communities. It
allows borderless transfer of ownership and provides for speedy
transactions. As payment is made directly between the transacting
parties without any intermediaries the transaction is usually low cost.
Digital money includes cryptocurrency, Bitcoin and virtual currency.
We have been seeing how the world is heightening and advancing with
the utilization of computerized resources where everything is becoming
paperless now., in a similar race, cryptographic money is the freshest
and most sensible structure developing to the advanced instalment
region. The technological revolution has even reached the financial
system. The payment methods have evolved from the barter system to
the use of cash. But now even print money is slowly being replaced by
digital money.
Digital currency refers to any means of payment that exists in purely
electronic form. It is intangible and is available only in digital form like
electronic wallets. It is accessible only through computers or mobile
phones. In contrast, the print currency that is banknotes or minted coins
are available in physical form and can be used for transactions only by
their holders. A digital currency has many intrinsic features of print
money. It can be used for transactions just like any standard fiat
currency though its use is restricted to certain online communities. It
allows borderless transfer of ownership and provides for speedy
transactions. As payment is made directly between the transacting
parties without any intermediaries the transaction is usually low cost.
Although there are many types of digital currency, the mechanics behind
them all are essentially the same. Blockchain is the technology on which
all digital currencies are built. Cryptocurrencies, virtual currencies,
central bank digital currencies, and e-Cash are some examples of digital
currency.