The Difference between 'Digital Currency' and 'Cryptocurrency'

[PiroSense 2681]

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.

[FaithJoy06 170]

8 minutes ago, 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.

Digital currency is any currency that yoy cannot touch meaning it is electronic. Cryptocurrency is a type of digital currency you cannot hold it but you can convert it and change it into a hard money that you can touch. Cryptocurrency is an essential currency to many people.

 

[PiroSense 2681]

11 minutes ago, So Rio said:

All cryptocurrencies are digital currencies but not all digital currencies are cryptocurrencies.

Good comprehension! People tend to use them interchangably, but the fact is that digital currency is more of a general term for anything digital used as a payment online.

[IrinaLavrinova 365]

Interesting article! Also, in digital currencies, there is a central authority that deals with problems. He can cancel or freeze any transaction at the request of one of its participants or a state body, as well as if there are suspicions of fraud or money laundering. Cryptocurrencies are regulated by the community itself.

[bentayebsalah 2280]

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

Edited November 15, 2019 by bentayebsalah

[PiroSense 2681]

10 hours ago, IrinaLavrinova said:

Interesting article!

 

9 hours ago, bentayebsalah said:

Good definition

Thanks. I hope to disseminate useful information for newbies out there to educate them about the basics before dwelling into the more complex ideas in cryptocurrencies.

[Keith700 1885]

12 hours ago, 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.

The digital units have their differences as you have stipulated in your explanation, perhaps there are some units with more advantages such as cryptocurrencies in general, the digital ones are more controlled, old and somewhat obsolete, those of the games are very limited.

[PiroSense 2681]

43 minutes ago, Keith700 said:

old and somewhat obsolete

Some are obsolete but still is existing, and might even gain more attention first (like digital fiat being adopted to certain cities such as in Germany) before Bitcoin would start replacing current monetary systems.

[miskyming 1588]

For me the difference of them that digital currency is a fiat virtual currency and the crypto is like bitcoin, litecoin, ripple and some of Tokens, but they are the same I think because they are virtual currency, a money on internet..

[Rg123 318]

Well, cryptocurrency is a digital curremcy that we cannot hold it in real life its because this is runs through the internet but you can use this for transactions and payments.

[Tine0313 3053]

16 hours ago, 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.

Thank you for this informative post mate. Actually im having a hard time to understand the difference of these two. 

[Akbor 1042]

Nicely you have discussed about digital curreny and crypto currency. i want say that crypto currency can be converted to digital currency any time. now a days crypto currency is becoming more attractive and needed as like crypto currency.

[Sumayya 493]

They both mean the same to me since they cannot be touch, you can only convert them to local currency and sell off

[Hatred 1388]

On 11/15/2019 at 11:39 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.

 

On 11/15/2019 at 11:39 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.

So that's the difference between digital and cryptocurrency. All of this day, I always believe it's the same. Thank you for enlightening my mind. 

[KrIsP.Kreme 40]

They are the same that both of them are virtual transactions in the internet and cryptocurrency are just variety that the digital currencies involves in that was money that can be stored or transact.

[Great Commander 659]

Indeed. Digital currencies includes flat currency such as usd gbp or jpy. Interchangeably can be referred as an online currency as cryptos and other digital currencies uses wallet to be able for it to store. 

[PiroSense 2681]

5 hours ago, Sumayya said:

They both mean the same to me since they cannot be touch, you can only convert them to local currency and sell off

 

5 hours ago, TubigWater said:

Please changes your title becuse on your contents your post is not differences,  digital currency is not tagible and also crypto currency

They have similarities, but they are not the same. Please understand the article more. Digital currencies can include anything that is (a) digital, and (b) used as payment.

 

For example: I can call the 'gems' in Clash of Clans (mobile online game) as Digital Currency, but it's definitely NOT A Cryptocurrency.

[Sumayya 493]

7 minutes ago, PiroSense said:

 

They have similarities, but they are not the same. Please understand the article more. Digital currencies can include anything that is (a) digital, and (b) used as payment.

 

For example: I can call the 'gems' in Clash of Clans (mobile online game) as Digital Currency, but it's definitely NOT A Cryptocurrency.

Okay i understand you. Anything that can be exchanged for reall money which is digital is different from the really digital currency like bitcoin

[yifnt 666]

Digital Currency is currently being widely used by people and this is legal and supported by all countries, in contrast to cryptocurreny which is still ambiguous in society because their prices are so volatile

[Sumayya 493]

10 hours ago, Mentor said:

If we consider it from this point of view, then Yes. But these words are not synonymous. The author correctly noted that cryptocurrency is only a kind of digital currency, and digital in turn is divided into a large number of groups

Which brings also so many wallets for crypto, am i right? Since crypto is virtual and cannot be seen but it has a virtual wallet that you can store it inside

[Zzoro6110 19]

The difference is obvious digital currency is a real and tangible currency and has been converted into electronic form for easy handling

Cryptocurrencies are intangible currencies that exist only through computers and are encrypted there

[ibtismanipun 120]

Let me end this topic in one sentence. The fiat currency is that currency which you can hold by your hands and the cryptocurrency is fully depended on the internet and the transaction of it also relies upon the internet.

[NemesisMicro 0]

More like the same cyrptocurrency and digital currency are both digital currency. The thing is cryptocurrency has a value depend on supply and demand the digital currency in banks have a value like fiat money.

[myaccount1 584]

Just now, Asifakbor said:

I don't find any difference between digital Curreency and crypto currency because Crypto is a digital Curreency.

Yes digital currencies and cyrtpto currencies both are same coins and yes there is no differences between the digital and crypto currencies.

[iloveyobit 6599]

thank you for the topic , the info is very usefull and i want add somthing :

 

we can say that the cryptocurrency is a part of the digital currency , but we cant say the digital currency is a part of the cryptocurrency .