The Difference between 'Digital Currency' and 'Cryptocurrency'

[Roman Wickler 1021]

There are alot of deference between digital currency and cryptocurrency. Cryptocurrency is online computer based currency. You can use it on crypto world. Digital money is a online version of fiat money. 

[Malik Abdullah 376]

I think digital currency and crypto currency are the same coins. These are the part of each other. There is no difference between crypto currency and the digital currency. Thanks for this topic . This is very informative and useful topic for the new members.

[MK AHMAD 1134]

On 11/15/2019 at 4:39 PM, PiroSense said:

Just to clear things up, and to help newbies further understand these words, to avoid confusion in the usage of these words;

 

Digital Currency is a type of currency in which is not tangible, something you cannot physically see/touch. In simple words, any currency/mode of payment not using any physical material is considered as a digital currency. Some examples:

1. Digital Fiat issued by banks (your local currency, only in digital world)

2. Cryptocurrency (Bitcoin and altcoins), and even,

3. Online Gaming Currency (the ones you use in online games), are all considered as digital currencies.

 

Read more about Digital Currencies here.

 

Cryptocurrency, on the contrary, pertains to a specific currency that relies on having a blockchain of irreversible data to handle transactions with the element of cryptography, hence its name 'crypto'currency.

 

To summarize,

 

Digital Currency is a general term for all modes of payment made digitally, without physical material.

 

Cryptocurrency is a kind of Digital Currency which has a blockchain that stores transactional data between users.

Nice write-up mate it's a good explanation for us that doesn't have full knowledge and experience on the differences between digital currency and Crypto currencies we really appreciate and most of the members can now differentiate between digital currency and Crypto currencies

[Naha62 752]

I would like to say that cryptocurrency is ever converted to digital currency.because cryptocurency is a part of digital curency But I can't say that digital currency is part of cryptocurrency.

[betania1 283]

Very similar terms but they mean different things, I thought it was the same but now I have everything clear thanks to its theme, it is somewhat confusing to think that they are different but the reality is that I have used this term incorrectly, and today I have learned something valuable.

[Sumon21 151]

On 11/16/2019 at 12:15 AM, bentayebsalah said:

Good definition
And I want to explain it in another way
Cryptocurrencies are those intangible currencies such as bitcoin that have their own encryption and are mined through mining equipment

 

But for Digital Currency it is like the balance of the phone and the amounts you have in the Visa card
They are real money that you transfer to digital money for easy handling

 

On 11/15/2019 at 9:39 PM, PiroSense said:

Just to clear things up, and to help newbies further understand these words, to avoid confusion in the usage of these words;

 

Digital Currency is a type of currency in which is not tangible, something you cannot physically see/touch. In simple words, any currency/mode of payment not using any physical material is considered as a digital currency. Some examples:

1. Digital Fiat issued by banks (your local currency, only in digital world)

2. Cryptocurrency (Bitcoin and altcoins), and even,

3. Online Gaming Currency (the ones you use in online games), are all considered as digital currencies.

 

Read more about Digital Currencies here.

 

Cryptocurrency, on the contrary, pertains to a specific currency that relies on having a blockchain of irreversible data to handle transactions with the element of cryptography, hence its name 'crypto'currency.

 

To summarize,

 

Digital Currency is a general term for all modes of payment made digitally, without physical material.

 

Cryptocurrency is a kind of Digital Currency which has a blockchain that stores transactional data between users.

Thanks.  I had little idea about cryptocurrency and digital currency. I used to combine both of them with each other. But now I got to know better about cryptocurrency and digital currency through your post.

[Majd Raslan 5 549]

Yes, my friend, thanks for this information that you provided, as many currencies can become encrypted, but it cannot be a digital currency as the term is different and the method of trading is different

[Quickbee 26]

Thank you for the explanation of the difference between digital and Crypto currency. Both are used interchangeably just like Bitcoin and Cryptocurrency. So there is only a thin line of difference between both digital and Crypto currency.

[Obliv0n 333]

Unfortunately these terms are constantly confused, especially now that the Chinese state plans to launch a digital currency and for some reason many claim that it is a cryptocurrency, when it is simply a digital version of the yuan that works using a blockchain

[ZAIN13 237]

Thanks for clarifying these important points,
The difference is really big between the two types, and many make mistakes in distinguishing between types of currencies,
In particular, whenever it is traded on the Internet or through cards, it is considered as crypto for people who do not know what crypto is,
Therefore, it was necessary to clarify this issue about the differences.
I hope everyone reads it.

[celeste10 251]

This is a good feature of this forum because it teaches all its users myself, although I knew the difference in many cases, beginners do not know it and with this type of post they can undoubtedly learn that is why cryptotalk is the best platform there is right now.

[lilisbet18 231]

What a good explanation, my friend, the digital currency is the one that will rule the world without a doubt because it is a technological advance that is undoubtedly very positive for everyone due to the many benefits that they offer.

[Farukatie 1271]

Thank you so much dear friend for sharing this information and explaining these two terms separately as I think that both are same thing but now after your post I get to know the difference between them thank you so much have a nice day.

[Edwinvicky 819]

To my understanding, cryptocurrency is still same as digital currency but we have many digital currency that is not cryptocurrency, an example of digital currency that is not cryptocurrency is Perfect Money, Payeer, Webmoney, Solidpay, Alertpay etc.

[Cleaner 2549]

On 11/15/2019 at 9:39 PM, PiroSense said:

Digital Fiat issued by banks (your local currency, only in digital world)

2. Cryptocurrency (Bitcoin and altcoins), and even,

There is a difference between digital currency and crypto currency  No one can touch digital currency, we also call cryptocurrency digital currency.  But there is a slight difference between them  Digital currencies are regulated by local governments, such as banks. Digital currencies of different countries are transacted through banks.  And cryptocurrency is decentralized, which is controlled by a major community.

[Roisein Ruby 234]

On 11/15/2019 at 8:39 PM, PiroSense said:

Just to clear things up, and to help newbies further understand these words, to avoid confusion in the usage of these words;

 

Digital Currency is a type of currency in which is not tangible, something you cannot physically see/touch. In simple words, any currency/mode of payment not using any physical material is considered as a digital currency. Some examples:

1. Digital Fiat issued by banks (your local currency, only in digital world)

2. Cryptocurrency (Bitcoin and altcoins), and even,

3. Online Gaming Currency (the ones you use in online games), are all considered as digital currencies.

 

Read more about Digital Currencies here.

 

Cryptocurrency, on the contrary, pertains to a specific currency that relies on having a blockchain of irreversible data to handle transactions with the element of cryptography, hence its name 'crypto'currency.

 

To summarize,

 

Digital Currency is a general term for all modes of payment made digitally, without physical material.

 

Cryptocurrency is a kind of Digital Currency which has a blockchain that stores transactional data between users.

Dude as I am a new member in this forum and on digital currency so I think that they are same terms but now I am really cleared about the difference and I would like to learn more about cryptocurrencies.

[yenniferamos14lsv 45]

Good explanation to take into account, these types of topics are what teach us some things that can confuse us, cryptocurrencies are based on blockchain and are not fiat money or backed by any entity or government, instead digital currencies can be also fiduciary, if we expand it a little more we can say that digital currencies, cryptocurrencies and tokens are different things, because some may also think that a token is the same as a crypto and it is not.

[David84 1191]

If I can put it in another way , I would say that digital currency is the fiat money but online, so it is the electronic version of fiat money bu it has so many restrictions just as the fiat money does and there are so many limitations when transferring it concerning the allowed amounts and the fees charges, while crypto currency is the developed version of money it is the more liberate form of it with so many advantage. 

[Dissy sb 945]

my friend I want to tell you that there are no more different in the digital currency and in the cryptocurrency because the cryptocurrency is a type of digital currency in this era of technology  I hope you understand

[Brimstone 44]

Well explained sir, many people are being confused between "digital currency" and "virtual currency" because when you read and hear it, its almost the same but it has a different meaning, this topic is the best example to answer the confusion of many members here.

[Dadouasaad123 902]

I totally agree with you on this, cryptocurrencies are decentralized currencies, which no one can control, and they are intangible currencies, unlike digital currencies, they are real money that you put in a digital account for easy withdrawal and deposit, that is, they are centralized and their price can be controlled  Like fiat currencies.

[kryptonick 2659]

On 11/15/2019 at 5:39 PM, PiroSense said:

3. Online Gaming Currency (the ones you use in online games), are all considered as digital currencies.

What? Not at all. The gaming currencies are just in game and are not currencies. Gamers buy them using currencies and it is like paying for the game. It is a currency like gold inside games but this is not a currency, it can just be called token inside a game. A real currency is accepted in real life and in the digital world, but this online gaming currency, is just accepted inside a game and nowhere else, always subject to restrictions. It is not digital currency.

[Jack764 1841]

The encrypted currency is better in handling and speed, and it is also kept in a special record, which is the blockchain, and this is how our rights and our currencies are preserved 

[kion 381]

Wow, this is actually a very important post, just this posts makes me understand the difference between cryptocurrecy and digital currency, as usually I do always think as to what is the difference between them. Thanks again.

[Alibhai 462]

Yeah you are right and I will like to add in this that cripto currency is also a digital currency as we all know that we can't touch and we can't use it through our hands if want to utilize it as a flat currency than it should must be exchange into another currency first.