Digital Currency Meaning
Digital Currency is a currency which is primarily exchanged, managed and stored on digital computer based system especially over internet. It is a form of currency that only exist in digital or electronic form.
What is Digital Currency?
Digital currency also known as virtual currency, digital money, electronic money or electronic currency as it exist only in digital or electronic form. Cryptocurrency is also a digital currency which has become very popular nowadays.
Digital currencies don’t have any physical form unlike printed bank notes or physical coins. Digital currency allows nearly instantaneous transactions over the internet and removes the cost associated with distributing notes and coins.
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Digital currencies are generally not issued by a government body of any country and therefore they not considered a legal tender. Cryptocurrencies enable ownership transfer across governmental borders.
Future of Digital Currency
Digital currencies are now becoming very popular and used for exchange. It is used to buy physical goods and services, but may also be restricted to certain communities that are not accepting digital currencies.