The difference between Digital currencies and cryptocurrencies

[Crypto123 0]

6 hours ago, MaksS said:

The main difference between digital currency and cryptocurrency is the centralized and decentralized coin, in which the digital currency is issued by the government, but the cryptocurrency is not controlled by the state.

Yes, the government does not control the cryptocurrency, not even any institution or anyone in the world can control the cryptocurrency, not even Satoshi himself who invented and this in my opinion is the most important and strongest feature in the cryptocurrency.

[George10 9932]

The most common different between digital currency and cryptocurrency is that digital currencies are controlled by the banks while cryptcurrencies aren't controlled by any one.

[Zues 1069]

On 11/28/2019 at 4:37 AM, Crypto123 said:

There are a lot of people and even those who work in the world of Crypto do not know the difference between digital currencies and cryptocurrencies I will put in this topic the most important differences between these two types:

 Digital Currencies
One of the types of currencies in the economic system, available only in digital form, which does not have a physical presence that you can use in your daily transactions from paying bills or purchases to others. Subject to a centralized system.
It can also be restricted to a particular group, for example on a social network.

 

Cryptocurrencies
These are the currencies that have recently emerged as Bitcoin and others, decentralized subject to a highly encrypted system of privacy protection, not subject to any economic regulatory body, its own system or protocol is called Block chain.
Countries have begun to consider adopting the matter seriously, with some beginning to formally recognize cryptocurrencies

 

this post is informative. There are difference between digital currency and cryptocurrencies. In shorter words the digital currency is a general type of currency and its branching with the more specific cryptocurrencies. 

[Zues 1069]

18 hours ago, halloweed said:

You got it all wrong hermano, there are many forms of digital currencies and one of the form is cryptocurrencies, so you see not all digital currencies are controlled by the governent.

I think that cryptocurrency and digital currency is like father and son. Digital currency is the general term for currencies and amd it is the father. On the other hand, cryptocurrenciws are under the digital currency it is specific and the son. 

[Zezo 306]

I used to think that the terms are the same meaning, thank you for the clarification, but so far I have not understood what is meant by digital currencies well

[pablomarwan 3082]

I thought it was the same thing due to the misfortune of its names, there is no difference except in its description or ways of dealing with it, just as digital currencies are not subject to central authority, and this is what I used to think in the first before I read this post that it is an important piece of information that must be preserved

[Treat1234 0]

Cryptocurrency is a digital currency, and this is Still the same as other digital currency, cryptocurrency is a subset of the digital coins that serves as a financial purpose

[Raqeebzy 6456]

Many of us don't know the difference, this is a clear explanation and thank you for reminding us. With this I can say cryptocurrency is a digital currency to an extent not fully. 

[Dark_Sky 8489]

On 4/8/2020 at 7:53 PM, magd said:

Digital currencies existed before the cryptocurrencies were established because in the pre-coding phase we found that famous currencies such as dollars and euros are paid digitally through central banks and the cryptocurrencies are not dealing with central banks

That's right, thanks for sharing this comment. 

Most of the people here although they are old or newbie they don't know the difference of that. 

Hope they learned something on your comment. 

[Virgil dijk 1431]

That's true digital currency and cryptocurrencies are not the same , there are actually two different things and you have clearly differentiate between the two currencies, thanks for sharing this post.

[BrolySSJ 7899]

Thank you for the clarification. I spent a lot of time thinking that these two currencies are the same and as such when speaking about crypto i would sometimes refer to its as a digital currency when explaining it to other users. I have however understood your definition and think i now have a clear understanding. Digital currencies are related to a specific platform and hold now value, so i think that the currency you earn in games can be considered a digital currency because you use it to upgrade your character in the game and has no physical value.

[Mishu1234 101]

I think this is very much informative for the beginners in crypto many people think that digital currency and cryptocurrency is the same but thia is not true and the basic difference between Digital and cryptocurrency is one is centralized and another is decentralized 

[malik6314193 5449]

Thanks for sharing this useful information with us. And i think crypto currencies is also one of digital currency. Digital currency is that money which moves on internet. And crypto also did same. 

[DavCrypto 298]

In short, we can say:
Digital currencies:
One of the types of currencies found in the economic system, available only in digital form, that is, they have no physical presence, you can use in your daily transactions, and they are subject to a central system.
Cryptocurrencies:
These are the currencies that have recently appeared on the scene as Bitcoin and others, decentralized subject to an encrypted system at a high level of privacy protection...

[Bruno52 1141]

Thank you for this indepth analysis on the differences between digital currency and crypto currency as it will help everyone know the difference if asked in the future.

[Dmasked 1840]

Technically crypto currency is a digital currency. Crypto currency is one of the types of digital currency. Gaming currency, currency in online wallets are also digital currencies but the difference in crypto currency is that it is based on blockchain, formulated on cryptography and is decentralized.

[Hazera 9]

There are many crypyocurrency that are centralize like Xrp,  Cryptocurrencies are decentralized, and the regulations inside the network are governed by the majority of the community. 

[Crypto123 0]

On 4/16/2020 at 7:39 PM, Anwyll Axel said:

I think digital currency is legal in whole world so why it has restricted to a limited group only? It's not like cryptocurrencies where you can't control it, digital currency is very much established and it's controllable.

Yes, digital currencies are central and manageable, but they are not as you say they are legal in the whole world. It is true that there are many countries that accept digital currencies, but most countries do not accept them yet.

[Thekingcallme 1975]

I think the difference is simple between the fiat digital currencies
Cryptocurrency
That is, the fiat coins belong to the banks, but the cryptocurrencies are decentralized

[Jessica Karren 1242]

Cryptocurrency is an asset which is used as a means of exchanges and it is based on cryptography. It used blockchain technology model which is decentralized. While  digital currency is the money used on internet to purchase things, it exits in the digital form, it has no concerns with blockchain, cryptography and decentralization.

[Jimmy26 987]

Both currencies are liquid currency but in digital currency there are some limitations and the control from the central government whether in cryptocurrency there is no limitations neither any central government has in authority to interact in your investment that is the main thing and difference between these currencies and mainly the digital currencies are the flat currencies we are having also I want to see what others members of thinking about this topic that will be much better to get some new idea from them.

[DokAgsikap 145]

1 hour ago, Jessica Karren said:

Cryptocurrency is an asset which is used as a means of exchanges and it is based on cryptography. It used blockchain technology model which is decentralized. While  digital currency is the money used on internet to purchase things, it exits in the digital form, it has no concerns with blockchain, cryptography and decentralization.

Wow thank you for your clarification, I am confuse as well, if they have a difference or they are the same, but thanks to you.

[Crypto123 0]

13 hours ago, Nicer216 said:

I guess that everyone knows difference between diggital currencies and cryptocurrencies, because digital currency it is our fiat money, but only not in physical but virtual and cryptocurrency it is something another, what can't be in physical phorm 

Well you have some concepts of your own, we cannot say about paper currencies as a digital currency, the digital currency is very different from the paper currency and therefore it is not permissible to call the paper currency as a digital currency.

[Ch Ayyan 9781]

Digital  currencies  could  be the digital  form of real currencies like usd. But  crypto currencies  are only currency  of internet and their prices and rates change  every  hour. 

[Amir Vao 341]

On 11/28/2019 at 2:37 AM, Crypto123 said:

There are a lot of people and even those who work in the world of Crypto do not know the difference between digital currencies and cryptocurrencies I will put in this topic the most important differences between these two types:

 Digital Currencies
One of the types of currencies in the economic system, available only in digital form, which does not have a physical presence that you can use in your daily transactions from paying bills or purchases to others. Subject to a centralized system.
It can also be restricted to a particular group, for example on a social network.

 

Cryptocurrencies
These are the currencies that have recently emerged as Bitcoin and others, decentralized subject to a highly encrypted system of privacy protection, not subject to any economic regulatory body, its own system or protocol is called Block chain.
Countries have begun to consider adopting the matter seriously, with some beginning to formally recognize cryptocurrencies

 

There are many major differences in the digital currencies and cryptocurrency. I can say one of the most reason is that crypto transactions anonymous which is harmful for any nation.