The Difference between 'Digital Currency' and 'Cryptocurrency'

[Shaza Ahmad 1682]

A great explanation of the difference between the digital currency and the cryptocurrency. Frankly, you summarized a lot in this article, because many people mistake these expressions, thank you, it is a useful article.

[magd 5231]

It is known that the digital parameters are the currencies that are similar to the paper and are the dollar and the euro and other currencies that are sent and received via the internet networks between countries and banks and for this digital currencies are linked to the central banks while the cryptocurrencies are very far from the central banks it adopts the principle of decentralized transmission and reception

[kadayakito 765]

Yes. You are right about the fundamentals of these 2 different types. Cryptocurrency is a big concept. and so do digital currencies, newbies definitely need to clearly distinguish these two concepts. thank you. good post

[Razan alikac 1899]

Yes, digital currencies, as well as cryptocurrencies, cannot be touched by hand and seen, but we deal with them and we can convert our real money into digital currencies and vice versa, yet there are many people who do not believe in digital currencies and cryptocurrencies and think it is a fantasy.

[Thekingcallme 1975]

This was a good illustration of what the difference is between the cryptocurrency
And the digital currency
And the digital currency is converting fiat money into digital like a dollar
Cryptocurrency is what Bitcoin means, for example

[Brushless4500KV 4214]

On 3/28/2020 at 9:20 PM, Mohammadztzt1 said:

Hello my friend
Digital is the paper currency that we place in our bank account and enables us to pay our bills via a bank card anywhere. The Crypto currency is bitcoin and the rest of the currencies and they share the goal

Digital currency is not a paper money. The most common term to refer to paper money is cash. The money we receive in our credit cards is called electronic money or electronic cash. The word " Digital " is only used to refer to cryptocurrencies because they have no physical forms but fiat currency has both a physical and an electronic form. Most people can differentiate between paper money and cryptocurrencies but the confusion comes from the terms Digital and Electronic because sometimes cryptocurrencies are called E-Currencies which is mistaken for Electronic Cash.

[Saj555 2250]

Actually two currencies are based on different process. The digital currencies are based on the generic terms issued by the banks or governments. But crypto currencies are a form of blockchain technology that also defies a kind of digital currency. Digital currencies are a kind of flat currencies and working system is alike that. But crypto has no physical presence and it actually goes from virtual markets. 

[Amir Vao 341]

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.

We know that our fiat currency system will replace by digital currency. And we know that digital currency will be online based currency. And we find it on cryptocurrency.

[Jeet Narayan 1940]

Bank are using number or something else for our holding money and cryptocurrency is also digital currency. Cryptocurrency is working from algorithm with blockchain and these days Crypto becoming very famous.

[George10 9932]

Thanks for sharing this well clarified information on the different been digital and crypto currency it is understood and one simple different is that digital currency can be used physically while as crypto currency can only be used online it doesn't have a physical note.

[Rezort 846]

I have met a lot of people who just said that they don't need cryptocurrency because there already exist digital currencies, and I tried to explain them the difference but they didn't listen.

[Zaino34 0]

This is true, the cryptocurrency is part of the digital currency, and these currencies are intangible and intangible and can be used to buy and sell online or for trading and investment in many locations and to make profits from them.

[Honny143 13612]

Crypto currencies also digital currency because both works through online, but the main difference is digital currency is our fiat currency we deposit in banks, and banks gives the authority to use this currency through online wallets like paytm PayPal Google pay operate our fiat currency to pay online bills, but crypto currencies always works in online  we can't touch but operate like digital currencies.

[pablomarwan 3082]

Although there is a difference between the digital currencies and the Ramenite currencies, as the former is not tangible, or it is not considered a clear material except digital and the latter is tangible, and it is the opposite of what I said about the digital currency, but it has the same goal and is one of the payment methods and means of dealing

[jamesvince 2389]

There is some differences between crypto currencies and other fiat currencies which also running as digital currencies such other digital currencies not used blockchain technology based systems but crypto currencies used blockchain technology such as bitcoin and eth. 

[Zues 1069]

On 3/30/2020 at 9:15 PM, Batoul al eman said:

Frankly, I thought that there was no difference between the cryptocurrency and the digital currency, so thank you for this good explanation, my friend.

Yes I think that it is important to know the difference between digital currency and cryptocurrencies because I think that people are having difficulty when they are trying to differ it and the main reason is digital currency and cryptocurrencies is connected

[Zues 1069]

1 minute ago, AH108 said:

Since crypto is virtc ual and cannot be seen but it has a virtual wallet that you can store it inside.So that's the difference between digital and cryptocurrency. All of this day.now a days crypto currency is becoming more attractive and needed as like crypto currency.I think because they are virtual currency, a money on internet.

Yes I think that it is important to know the difference between them because I think that it will be great if people and users here in cryptocurrencies will not be confused by their similarities and differences and I hope that they will get educated. 

[Jessica Karren 1242]

Yes the main difference is that digital currencies are centralized, the transactions is regulated by a centralized entity like bank while cryptocurrencies are decentralized means the regulations are controlled by their repestive community. The digital currencies are not transparent means you can see all money transfers while cryptocurrencies are transparent means no one can see the money transfers.

[Laboni 755]

Digital currency is usually managed legally Crypto is not a digital currency Crypto has not yet been legalized in many countries and is not supported by the government In that case there are many differences between the two. Fiat Currency Digital.

[Moaz 7239]

Digital currencies are real money found on your computer or phone, such as the dollar or the euro, you deal with it over the internet only. As for cryptocurrencies, they are like bitcoin are intangible currencies that rely on the blockchain technology in sending and receiving. 

[Virgil dijk 1431]

Thanks for sharing this with us, many newbies don't really know the difference about this two words, but I think seeing your with such a good explanation would really help them out in knowing the differences.

[bitcoin-shark 1928]

The digital currencies are those currencies that are exchanged, transactions are carried out in a virtual electronic way and are not directly tangible. However, once the transaction has been made, they can be touched, instead cryptocurrency  are totally virtual and cannot exist in any other way than in the virtual way. on the computer to be tangible they must be changed into real Fiat currencies

[Omar Ommeish 4872]

Many beginners don't know the difference between the digital currency and the cryptocurrency and they think they are the same thing. When I was a beginner I thought so too.
Thank you.

[Zezo 306]

Thank you for the clarification, I did not distinguish between the two terms, knowledge of terms is very important for beginners but they are many and need time to memorize

[Raqeebzy 6456]

A good topic. I believe the main difference between cryptocurrency and digital currency lies in encryption, decentralisation and anonymity of the former. Cryptocurrency is digital but with a different technology (blockchain).