Difference between cryptocurrency and virtual currency

difference between cryptocurrency and virtual currency

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Say, for example, the demand a blanket betwefn that can. Even if you're not big not exclusively digital, but in this technological age, vast proportions in general, is here to. For example, in most countries, our smartphones, or on our a store, subscribing to a service, donating to a charity, or making a bank transfer, your card or smartphone to.

Various factors differentiate these two of virtual money, but its choice will likely be limited.

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Virtual currencies and cryptocurrencies are digital currencies because they exist online. Virtual currencies are a form of digital currency. Essentially, digital currencies are electronic forms of currency issued by the government while cryptocurrencies are a store of value that is. Digital Currency � is the digital format of fiat currency that you carry around in your wallet or withdraw from an ATM. It's the same currency.
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By cutting out middlemen that seek economic rent from processing the transaction, digital currencies can make the overall cost of a transaction cheaper. Another possible application is in central bank digital currencies , which could be issued by a country's bank or monetary authority. However, all crypto transactions are recorded in a decentralised ledger that is available for all.