Digital currency is that which is having fixed amount and can be called out anytime and withdraw.
But the cryptocurrency is a currency which keeps on fluctuating in price value and there is no fixed amount.
Topic: Difference between Digital currency and cryptocurrencies (Read 632 times)
Your way of explaining what virtual money is and cryptocurrency is quite amazing, a not-long-winded explanation. And from both of these money I prefer cryptocurrency because we can hold onto what we have.
bitcoin and other crypto are called digital, because they have digital form values, but not digital.
but digital currency is not crypto, crypto systems have a decentralized concept. but digital has a broad understanding.
but digital currency is not crypto, crypto systems have a decentralized concept. but digital has a broad understanding.
Digital currency is FIAT but used for payment and exchange through support app from significant developers. Cryptocurrency is a currency developed on the Blockchain platform, and it listed on the exchanges, where they will be traded and create value changes every hour.
I think digital currency is just something without the use of internet. Digital currency is again what a form by which we can make series of transactions with or without internet.
Why cryptocurrency is a form of an online digital coins, traded in all forms of exchanges
Dude, all the digital currencies that you find like ATMs, credit cards, debit cards, etc. use the internet to connect with each other, like when an ATM machine fails to connect to the internet, of course you won't be able to take your money out or make transactions. digital currency is make by fiat or government, while cryptocurrency is included in the virtual currency Why cryptocurrency is a form of an online digital coins, traded in all forms of exchanges
I was introducing cryptocurency to one of my friend and after so many explanation, he asked me the difference between the two currencies, so below was my answer to him
These forms of currencies are inherently similar. However, their similarity devolves into distinct features when they are examined more critically. Here are some of the major differences between digital currency and cryptocurrency.
1. Decentralization vs. centralization:
Banking system, a majority of digital currencies are regulated by regulatory bodies like the Federal Reserve or other designated government parastatals. This means that transactions are constantly monitored, and their value determined by these regulatory bodies.
On the other hand, cryptocurrencies are fully decentralized. This means that no institution is set aside to regulate them. The rules are set by its community. As a result, the viability of a cryptocurrency is highly dependent on the strength its community can garner.
2. Privacy:
Privacy in this sense refers to the ability to conceal the information of the account owner.
With digital currencies, this is practically impossible. To open a digital account, you need to upload your photo and fill in your personal details, to make use of services like PayPal, you have to fill in your information like name and address. Hence, you can easily be tracked.
On the other hand, you don’t necessarily need to disclose any of your personal information when opening a wallet for cryptocurrency trading. In fact, coins like Dash are available to provide full anonymity, and this is one of the reasons why cryptocurrencies were widely used on the dark web.
3. Transparency:
The framework of digital currencies only allows approved entities to get access to the transaction information. Information regarding transactions of which you’re not directly connected is withheld from you.
On the other hand, cryptocurrency transactions are made available to the public domain. Even though the people behind the transactions are unknown, this way, you can personally monitor how much money is in the system.
4. Legal framework:
Most digital currencies are backed by a recognized central authority. Having legal support from government and financial institution establishes their general usage and acceptance.
On the other hand, cryptocurrencies aren’t backed by any form of a recognized body. As a consequence, they’re not yet fully recognized as a legal tender worldwide.
5. Dominance:
Due to their recognized backing, digital currencies are accepted all over the world. Carrying out transactions with digital currency isn’t restricted by geographic borders, race or even belief systems.
Cryptocurrencies, on the other hand, are loners. They are only accepted by a small group of institutions and compared to other centralized digital coins, their popularity doesn’t measure. Although analysts pose that this will soon change and government regulations will be more favorable towards cryptocurrency.
6. Transaction interference:
Since transactions are monitored by central authorities when using digital currency, they can easily flag transactions suspected to be suspicious or even freeze an account temporarily on the request of the owner. This makes transaction reversible.
On the other hand, once a transaction is completed with cryptocurrency, it is automatically added to the Blockchain and is forever irreversible.
7. Value fluctuation:
For digital currencies, its value is determined and regulated by financial institutions. This makes the currency relatively stable.
Cryptocurrencies, on the other hand, are unregulated. This makes them highly volatile and susceptible to slight behavioral changes in its community.
Hope this will help many newbie here. Cause i myself still learning.
These forms of currencies are inherently similar. However, their similarity devolves into distinct features when they are examined more critically. Here are some of the major differences between digital currency and cryptocurrency.
1. Decentralization vs. centralization:
Banking system, a majority of digital currencies are regulated by regulatory bodies like the Federal Reserve or other designated government parastatals. This means that transactions are constantly monitored, and their value determined by these regulatory bodies.
On the other hand, cryptocurrencies are fully decentralized. This means that no institution is set aside to regulate them. The rules are set by its community. As a result, the viability of a cryptocurrency is highly dependent on the strength its community can garner.
2. Privacy:
Privacy in this sense refers to the ability to conceal the information of the account owner.
With digital currencies, this is practically impossible. To open a digital account, you need to upload your photo and fill in your personal details, to make use of services like PayPal, you have to fill in your information like name and address. Hence, you can easily be tracked.
On the other hand, you don’t necessarily need to disclose any of your personal information when opening a wallet for cryptocurrency trading. In fact, coins like Dash are available to provide full anonymity, and this is one of the reasons why cryptocurrencies were widely used on the dark web.
3. Transparency:
The framework of digital currencies only allows approved entities to get access to the transaction information. Information regarding transactions of which you’re not directly connected is withheld from you.
On the other hand, cryptocurrency transactions are made available to the public domain. Even though the people behind the transactions are unknown, this way, you can personally monitor how much money is in the system.
4. Legal framework:
Most digital currencies are backed by a recognized central authority. Having legal support from government and financial institution establishes their general usage and acceptance.
On the other hand, cryptocurrencies aren’t backed by any form of a recognized body. As a consequence, they’re not yet fully recognized as a legal tender worldwide.
5. Dominance:
Due to their recognized backing, digital currencies are accepted all over the world. Carrying out transactions with digital currency isn’t restricted by geographic borders, race or even belief systems.
Cryptocurrencies, on the other hand, are loners. They are only accepted by a small group of institutions and compared to other centralized digital coins, their popularity doesn’t measure. Although analysts pose that this will soon change and government regulations will be more favorable towards cryptocurrency.
6. Transaction interference:
Since transactions are monitored by central authorities when using digital currency, they can easily flag transactions suspected to be suspicious or even freeze an account temporarily on the request of the owner. This makes transaction reversible.
On the other hand, once a transaction is completed with cryptocurrency, it is automatically added to the Blockchain and is forever irreversible.
7. Value fluctuation:
For digital currencies, its value is determined and regulated by financial institutions. This makes the currency relatively stable.
Cryptocurrencies, on the other hand, are unregulated. This makes them highly volatile and susceptible to slight behavioral changes in its community.
Hope this will help many newbie here. Cause i myself still learning.
Crypto = encrypted, build on blockchain
digital currency = no encryption, not on blockchain.
Digital currency doesn't require proof of work.
Always best with digital currencies to just ask "is it bitcoin?"
If the answer is no, try to trade it for bitcoin
Always best with digital currencies to just ask "is it bitcoin?"
If the answer is no, try to trade it for bitcoin
I think digital currency is just something without the use of internet. Digital currency is again what a form by which we can make series of transactions with or without internet.
Digital currency is not the same as cryptocurrency but that doesn't mean they are different in terms of transactions since it is still needed to be transacted online, which means it needs internet.
if you will be talking about offline transactions, it will be fiats since they can be transacted without the use of internet or any connections, it is also obvious since it is the most common way of paying someone.
Why cryptocurrency is a form of an online digital coins, traded in all forms of exchanges
if you will be talking about making a series of transactions, cryptocurrencies can be done with that too, the only difference is that digital currencies are centralized since they are the digital type of fiats while cryptocurrencies are decentralized.
if you don't know there are some ways to transact Bitcoin and maybe other cryptocurrencies offline such as using the wallet Ethereum. Also, cryptocurrencies are not just used as an investment or an asset since it is also used as a payment method of a lot of platforms and most of them, we don't know yet since they are limited to some countries.
I think digital currency is just something without the use of internet. Digital currency is again what a form by which we can make series of transactions with or without internet.
Why cryptocurrency is a form of an online digital coins, traded in all forms of exchanges
Why cryptocurrency is a form of an online digital coins, traded in all forms of exchanges
digital currency does not allow you to be sure that your funds will not be blocked at any time
And more importantly, Digital currency is easier to lose than Cryptocurrencies , so I recommend using bitcoin as the safest cryptocurrencies I've known until now. And when you invest bitcoin scratches you will see that no one will manage your money like Digital currency. Just my chose is cryptocurrencies and I should you also choose Bitcoin
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I was introducing cryptocurency to one of my friend and after so many explanation, he asked me the difference between the two currencies, so below was my answer to him
These forms of currencies are inherently similar. However, their similarity devolves into distinct features when they are examined more critically. Here are some of the major differences between digital currency and cryptocurrency.
1. Decentralization vs. centralization:
Banking system, a majority of digital currencies are regulated by regulatory bodies like the Federal Reserve or other designated government parastatals. This means that transactions are constantly monitored, and their value determined by these regulatory bodies.
On the other hand, cryptocurrencies are fully decentralized. This means that no institution is set aside to regulate them. The rules are set by its community. As a result, the viability of a cryptocurrency is highly dependent on the strength its community can garner.
2. Privacy:
Privacy in this sense refers to the ability to conceal the information of the account owner.
With digital currencies, this is practically impossible. To open a digital account, you need to upload your photo and fill in your personal details, to make use of services like PayPal, you have to fill in your information like name and address. Hence, you can easily be tracked.
On the other hand, you don’t necessarily need to disclose any of your personal information when opening a wallet for cryptocurrency trading. In fact, coins like Dash are available to provide full anonymity, and this is one of the reasons why cryptocurrencies were widely used on the dark web.
3. Transparency:
The framework of digital currencies only allows approved entities to get access to the transaction information. Information regarding transactions of which you’re not directly connected is withheld from you.
On the other hand, cryptocurrency transactions are made available to the public domain. Even though the people behind the transactions are unknown, this way, you can personally monitor how much money is in the system.
4. Legal framework:
Most digital currencies are backed by a recognized central authority. Having legal support from government and financial institution establishes their general usage and acceptance.
On the other hand, cryptocurrencies aren’t backed by any form of a recognized body. As a consequence, they’re not yet fully recognized as a legal tender worldwide.
5. Dominance:
Due to their recognized backing, digital currencies are accepted all over the world. Carrying out transactions with digital currency isn’t restricted by geographic borders, race or even belief systems.
Cryptocurrencies, on the other hand, are loners. They are only accepted by a small group of institutions and compared to other centralized digital coins, their popularity doesn’t measure. Although analysts pose that this will soon change and government regulations will be more favorable towards cryptocurrency.
6. Transaction interference:
Since transactions are monitored by central authorities when using digital currency, they can easily flag transactions suspected to be suspicious or even freeze an account temporarily on the request of the owner. This makes transaction reversible.
On the other hand, once a transaction is completed with cryptocurrency, it is automatically added to the Blockchain and is forever irreversible.
7. Value fluctuation:
For digital currencies, its value is determined and regulated by financial institutions. This makes the currency relatively stable.
Cryptocurrencies, on the other hand, are unregulated. This makes them highly volatile and susceptible to slight behavioral changes in its community.
Hope this will help many newbie here. Cause i myself still learning.
it is right and true what you say in your opinion, with what you convey can make investors understand and understand what you are saying and people do not misinterpret These forms of currencies are inherently similar. However, their similarity devolves into distinct features when they are examined more critically. Here are some of the major differences between digital currency and cryptocurrency.
1. Decentralization vs. centralization:
Banking system, a majority of digital currencies are regulated by regulatory bodies like the Federal Reserve or other designated government parastatals. This means that transactions are constantly monitored, and their value determined by these regulatory bodies.
On the other hand, cryptocurrencies are fully decentralized. This means that no institution is set aside to regulate them. The rules are set by its community. As a result, the viability of a cryptocurrency is highly dependent on the strength its community can garner.
2. Privacy:
Privacy in this sense refers to the ability to conceal the information of the account owner.
With digital currencies, this is practically impossible. To open a digital account, you need to upload your photo and fill in your personal details, to make use of services like PayPal, you have to fill in your information like name and address. Hence, you can easily be tracked.
On the other hand, you don’t necessarily need to disclose any of your personal information when opening a wallet for cryptocurrency trading. In fact, coins like Dash are available to provide full anonymity, and this is one of the reasons why cryptocurrencies were widely used on the dark web.
3. Transparency:
The framework of digital currencies only allows approved entities to get access to the transaction information. Information regarding transactions of which you’re not directly connected is withheld from you.
On the other hand, cryptocurrency transactions are made available to the public domain. Even though the people behind the transactions are unknown, this way, you can personally monitor how much money is in the system.
4. Legal framework:
Most digital currencies are backed by a recognized central authority. Having legal support from government and financial institution establishes their general usage and acceptance.
On the other hand, cryptocurrencies aren’t backed by any form of a recognized body. As a consequence, they’re not yet fully recognized as a legal tender worldwide.
5. Dominance:
Due to their recognized backing, digital currencies are accepted all over the world. Carrying out transactions with digital currency isn’t restricted by geographic borders, race or even belief systems.
Cryptocurrencies, on the other hand, are loners. They are only accepted by a small group of institutions and compared to other centralized digital coins, their popularity doesn’t measure. Although analysts pose that this will soon change and government regulations will be more favorable towards cryptocurrency.
6. Transaction interference:
Since transactions are monitored by central authorities when using digital currency, they can easily flag transactions suspected to be suspicious or even freeze an account temporarily on the request of the owner. This makes transaction reversible.
On the other hand, once a transaction is completed with cryptocurrency, it is automatically added to the Blockchain and is forever irreversible.
7. Value fluctuation:
For digital currencies, its value is determined and regulated by financial institutions. This makes the currency relatively stable.
Cryptocurrencies, on the other hand, are unregulated. This makes them highly volatile and susceptible to slight behavioral changes in its community.
Hope this will help many newbie here. Cause i myself still learning.
the digital currency is usually issued by the state and can be used in that country and if used in other countries we must first convert it into the currency of the destination country, this will not occur in crypto currency because the krypto currency applies throughout the country and does not need to be exchanged into any country's currency if we will make payments in different countries.
a very good and easy to understand explanation, but to be simpler is cryptocurrency is part of the digital currency, but digital currency is not necessarily cryptocurrency
for simple needs, I really like using cryptocurrency to transact, for example to extend the domain, to pay for advertising, to subscribe to news, etc.
but if for the purpose of buying and selling, I still use bank transfers, which are more official and security is layered
for simple needs, I really like using cryptocurrency to transact, for example to extend the domain, to pay for advertising, to subscribe to news, etc.
but if for the purpose of buying and selling, I still use bank transfers, which are more official and security is layered
Market share of digital currencies is huge and it has a common use in today's financial system. For crypto currencies, it is very difficult to defeat digital currencies in a short term and persuade investors to use cryptocurrencies instead of digital currencies.
The first thing to mention is the difference between them. While digital broadcasting is a centralized system controlled by the government, cryptocurrency is a decentralized, non-centralized or government-controlled system.
Digital currency is money in digital form and only on the internet. Digital currency does not have any physical characteristics in the real world, but has all the behavior of traditional money. You can transfer, buy, and sell it for currencies. Digital currencies have no geographical or political restrictions, can be sent to and from anywhere. Whereas Cryptocurrency is an asset that is used as a medium of exchange. This currency uses cryptography and how to make it is considered safe. The system used will create and analyze algorithms and protocols. This is to prevent any information that is changed or interrupted when connected by third parties. Cryptography is a mixture of several different sciences based on mathematical calculations. Cryptocurrency uses blockchain and ledgers that are certainly decentralized.
2. Privacy:
Privacy in this sense refers to the ability to conceal the information of the account owner.
With digital currencies, this is practically impossible. To open a digital account, you need to upload your photo and fill in your personal details, to make use of services like PayPal, you have to fill in your information like name and address. Hence, you can easily be tracked.
On the other hand, you don’t necessarily need to disclose any of your personal information when opening a wallet for cryptocurrency trading. In fact, coins like Dash are available to provide full anonymity, and this is one of the reasons why cryptocurrencies were widely used on the dark web.
Yes, for me privacy is the most difference between digital currency and cryptocurrency.
Although bitcoin is not anonymous, you can use other coins such as Monero to become anonymous.
Digital currency cannot do that. Only cryptocurrency can make you using your money anonymously.
digital currency does not allow you to be sure that your funds will not be blocked at any time
A digital currency is one that is related to the internet(online activities)/computers as opposed to physical currencies,in the sense that you cannot touch nor feel them, you only make use of them/carry out transactions with them over the internet
While cryptocurrency is an example of a digital currency,in its case it's decentralized and works on a particular platform called the blockchain technology
There are many digital currencies and cryptocurrency is just one of them
While cryptocurrency is an example of a digital currency,in its case it's decentralized and works on a particular platform called the blockchain technology
There are many digital currencies and cryptocurrency is just one of them
I was introducing cryptocurency to one of my friend and after so many explanation, he asked me the difference between the two currencies, so below was my answer to him
These forms of currencies are inherently similar. However, their similarity devolves into distinct features when they are examined more critically. Here are some of the major differences between digital currency and cryptocurrency.
1. Decentralization vs. centralization:
Banking system, a majority of digital currencies are regulated by regulatory bodies like the Federal Reserve or other designated government parastatals. This means that transactions are constantly monitored, and their value determined by these regulatory bodies.
On the other hand, cryptocurrencies are fully decentralized. This means that no institution is set aside to regulate them. The rules are set by its community. As a result, the viability of a cryptocurrency is highly dependent on the strength its community can garner.
2. Privacy:
Privacy in this sense refers to the ability to conceal the information of the account owner.
With digital currencies, this is practically impossible. To open a digital account, you need to upload your photo and fill in your personal details, to make use of services like PayPal, you have to fill in your information like name and address. Hence, you can easily be tracked.
On the other hand, you don’t necessarily need to disclose any of your personal information when opening a wallet for cryptocurrency trading. In fact, coins like Dash are available to provide full anonymity, and this is one of the reasons why cryptocurrencies were widely used on the dark web.
3. Transparency:
The framework of digital currencies only allows approved entities to get access to the transaction information. Information regarding transactions of which you’re not directly connected is withheld from you.
On the other hand, cryptocurrency transactions are made available to the public domain. Even though the people behind the transactions are unknown, this way, you can personally monitor how much money is in the system.
4. Legal framework:
Most digital currencies are backed by a recognized central authority. Having legal support from government and financial institution establishes their general usage and acceptance.
On the other hand, cryptocurrencies aren’t backed by any form of a recognized body. As a consequence, they’re not yet fully recognized as a legal tender worldwide.
5. Dominance:
Due to their recognized backing, digital currencies are accepted all over the world. Carrying out transactions with digital currency isn’t restricted by geographic borders, race or even belief systems.
Cryptocurrencies, on the other hand, are loners. They are only accepted by a small group of institutions and compared to other centralized digital coins, their popularity doesn’t measure. Although analysts pose that this will soon change and government regulations will be more favorable towards cryptocurrency.
6. Transaction interference:
Since transactions are monitored by central authorities when using digital currency, they can easily flag transactions suspected to be suspicious or even freeze an account temporarily on the request of the owner. This makes transaction reversible.
On the other hand, once a transaction is completed with cryptocurrency, it is automatically added to the Blockchain and is forever irreversible.
7. Value fluctuation:
For digital currencies, its value is determined and regulated by financial institutions. This makes the currency relatively stable.
Cryptocurrencies, on the other hand, are unregulated. This makes them highly volatile and susceptible to slight behavioral changes in its community.
Hope this will help many newbie here. Cause i myself still learning.
These forms of currencies are inherently similar. However, their similarity devolves into distinct features when they are examined more critically. Here are some of the major differences between digital currency and cryptocurrency.
1. Decentralization vs. centralization:
Banking system, a majority of digital currencies are regulated by regulatory bodies like the Federal Reserve or other designated government parastatals. This means that transactions are constantly monitored, and their value determined by these regulatory bodies.
On the other hand, cryptocurrencies are fully decentralized. This means that no institution is set aside to regulate them. The rules are set by its community. As a result, the viability of a cryptocurrency is highly dependent on the strength its community can garner.
2. Privacy:
Privacy in this sense refers to the ability to conceal the information of the account owner.
With digital currencies, this is practically impossible. To open a digital account, you need to upload your photo and fill in your personal details, to make use of services like PayPal, you have to fill in your information like name and address. Hence, you can easily be tracked.
On the other hand, you don’t necessarily need to disclose any of your personal information when opening a wallet for cryptocurrency trading. In fact, coins like Dash are available to provide full anonymity, and this is one of the reasons why cryptocurrencies were widely used on the dark web.
3. Transparency:
The framework of digital currencies only allows approved entities to get access to the transaction information. Information regarding transactions of which you’re not directly connected is withheld from you.
On the other hand, cryptocurrency transactions are made available to the public domain. Even though the people behind the transactions are unknown, this way, you can personally monitor how much money is in the system.
4. Legal framework:
Most digital currencies are backed by a recognized central authority. Having legal support from government and financial institution establishes their general usage and acceptance.
On the other hand, cryptocurrencies aren’t backed by any form of a recognized body. As a consequence, they’re not yet fully recognized as a legal tender worldwide.
5. Dominance:
Due to their recognized backing, digital currencies are accepted all over the world. Carrying out transactions with digital currency isn’t restricted by geographic borders, race or even belief systems.
Cryptocurrencies, on the other hand, are loners. They are only accepted by a small group of institutions and compared to other centralized digital coins, their popularity doesn’t measure. Although analysts pose that this will soon change and government regulations will be more favorable towards cryptocurrency.
6. Transaction interference:
Since transactions are monitored by central authorities when using digital currency, they can easily flag transactions suspected to be suspicious or even freeze an account temporarily on the request of the owner. This makes transaction reversible.
On the other hand, once a transaction is completed with cryptocurrency, it is automatically added to the Blockchain and is forever irreversible.
7. Value fluctuation:
For digital currencies, its value is determined and regulated by financial institutions. This makes the currency relatively stable.
Cryptocurrencies, on the other hand, are unregulated. This makes them highly volatile and susceptible to slight behavioral changes in its community.
Hope this will help many newbie here. Cause i myself still learning.
That is what crypto currency goal all transaction must do for individual not necessarily using for third party unlike digital currency which is classified as form of fiat money is 100% centralized and regulated by government that's only a big different between both subject but for quick transaction decentralized is much better and efficient than centralized.
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