The difference between Digital currencies and cryptocurrencies

[Crypto123 0]

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

 

[TimopheyKa 3900]

Thank you for the information, it is really very useful, especially useful for beginners in this field! Also, digital currency, unlike cryptocurrency, is less anonymous, but it is more used, it is faster to exchange.

[Naga 1250]

Digital currencies are understood as crtpto as well most of the time but to me I think digital currency are currencies that work inside a website just lile those Disney dollars but they are useless outside. 

[Naylor89 1223]

The basic difference is that Digital currency is centralized and controlled by governmants or institutions as Crypto currency is decentralized and free for everybody. first one is more stable than other one.

[Migo 7946]

This good definition for both of them, I was looking for such information and finally I found them, thanks for your sharing, good luck for you 

[yifnt 666]

Another most striking difference is that digital money is safer from loss because it is not volatile and they are more accepted by the public for now than cryptocurrency

[kizz 3370]

Digital currencies are centralized, meaning that transaction within the network is regulated in a centralized location, like a bank. Cryptocurrencies are decentralized, and the regulations inside the network are governed by the majority of the community. 


Source: www.coinmetro.com

[Lubruselu 2803]

There have difference between digital currency and cryptocurrency although the cryptocurrency also is a digital currency but digital currency is s total of all online money such as fiat currency and cryptocurrency.

[avatarkiyoshi 270]

Blockchain and the ecosystem makes both things different. Basically both is digital which have no physical form.

Most of digital currency is another form of fiat currency. Also inflation makes both different, inflation will not occur in cryptocurrency.

[Mahi25 142]

Thank you for the data, it is clearly very useful, especially useful for novices in this area! Also, digital currency, unlike cryptocurrency, is much less anonymous, however it's far greater used, it's far faster to change. So you are saying crypto foreign money is decentralized and digital currency is centralize?  There are many cryptocurrency that centralizes like XRP, I think virtual and crypto modern are almost the equal.

[Aceventura 208]

Cryptocurrency is sort of digital money. They only exist in the electronic form. The main technology behind crypto is data encryption which allows for anonymity and safety of transactions. In contrast to cryptocurrency with its encryption features and blockchain technology, digital currencies are a generic term encompassing all money in the electronic form. In a legal sense, digital money acts exactly as fiat and is regulated by law.

Edited November 29, 2019 by Aceventura

[SaidNurs 46]

On 11/28/2019 at 3:37 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

 

I think the digital currency and cryptocurency are the same, namely in the form of payment instruments, the difference is the structure of each, both digital currency and cryptocurrency. Your article is very useful as a reference. Thanks.

[FlatterCar 696]

The information is really useful, but for some reason still do not share cryptocurrency and digital currency, it is clear that they are different, but I just sometimes easier to call not cryptocurrency, and digital currency. I did not change).

[Brushless4500KV 4214]

Digital currencies are like fiat currencies. They are centralized and controlled by third party. The same rules and regulations that control paper money will also apply to digital currencies. Digital currencies were developed to solve the problems of sending and receiving money worldwide and to lower costs and fees. PayPal and Visa/Master Card are the most famous digital currencies.

Cryptocurrencies are quite different. They are decentralized and controlled by themselves. They are not the national currency of any country. They can be mined by everyone with the proper hardware but digital currencies can't be produced. Cryptocurrency transactions are more transparent. You can see the transaction history of other people's wallet addresses but you don't have access to transaction history of someone's PayPal account.

[Crypto123 0]

5 hours ago, Awaremooner said:

The major difference is what makes cryptocurrency what it is, decentralization of all components of the coin and its blockchain. Digital currencies are centralized currencies. One thing I don't get is, in an era of cashless transactions where ask you need is a debit or credit card for fiat transactions, what then is the importance of digital currencies?

The difference between digital currencies and credit cards is that credit cards must have a cash balance or an account in a bank linked to credit cards. digital currencies do not need a cash balance that is itself considered cash and you can buy games or shop online without having to convert them into Fiat.

Edited November 29, 2019 by Crypto123
correct Wrong word

[sdsonjoy50 886]

Computerized monetary standards are comprehended as crtpto also more often than not however to me I think advanced cash are monetary forms that work inside a site just lile those Disney dollars yet they are futile outside and This great definition for them two, I was searching for such data lastly I discovered them, a debt of gratitude is in order for your sharing, good karma for you.

[Benjamin 84]

Well, digital currency is a currency that we can only used via online and you can't hold it physically because this is not like a fiat money, crypto currency is a curreny like digital currency, you cant hold it and also you can used it via online, its just like simply same but it has a comparison like crypto has a high value and digital currency is a fiat money but in online.

[Crypto123 0]

34 minutes ago, Awaremooner said:

Are you spending from the air using digital currency? Is the balance not somewhere in your wallet too? Credit cards and debit cards are medium to spend your fiat currency in a digital way by not having to present cash and this transfers is virtual. So digital currencies I believe will operate in same way difference is just that you cannot draw digital currency for fiat without conversion. 

It seems that there is a difference of opinion between you and me. Your words are true on the one hand, but in return I say that the digital currency is money in fact and has the value of physical money and even if it does not have a physical presence, you can buy anything from the shops that accept dealings without having to convert to Fiat, Well it can be converted to cryptocurrency like Bitcoin. And you never need convert it to Fiat. In other words, if all the stores accept to deal in digital currencies, you can buy what you want without converting to Fiat. did you understand me?

[Lawrenzoo 13]

Well, your post actually look a little bit informative, but to me, it is quite confusing because if you look at everything that is surrounding cryptocurrency, it is still done digitally, so we can still count the use of cryptocurrency for payment as digital payment because it is not done physically or manually. when people talk of cryptocurrency payment, they see it as digital payment method also, so it can still be classified as a digital payment method too.

Edited November 29, 2019 by Lawrenzoo

[Jimmy 437]

Your thread is indeed informative and indeed most newbies and even some people who have long even sometimes still do not know about this, Simplically I think digital currencies are centralized and used in only a few places and cryptocurrencies are decentralized and globally, according to my understanding so far.

[dhemasm 219]

The explanation is very good and quite helpful but I think the newcomers will be a little confused, I try to make it simple, Digital currency = Centralized and Crypto = Decentralized.

[fuer44 1083]

between digital or crypto, are there the most striking differences? I see the two are almost the same in terms of digital or virtual. both are intangible and can be used as online payments.

[Crypto123 0]

4 hours ago, Lawrenzoo said:

Well, your post actually look a little bit informative, but to me, it is quite confusing because if you look at everything that is surrounding cryptocurrency, it is still done digitally, so we can still count the use of cryptocurrency for payment as digital payment because it is not done physically or manually. when people talk of cryptocurrency payment, they see it as digital payment method also, so it can still be classified as a digital payment method too.

Yes, my friend, your words are true. The Digital currency and cryptocurrency are very similar and it is difficult for people to distinguish between it. The main and obvious difference between it is that the digital currency is centralized and fully controllable and the cryptocurrency is decentralized and no one can control it.

[Afrizal rahman 2636]

Thank you for the information, very useful. with this information I can find out that digital currience and crypto are different. Thank you very much

[Gusion 321]

Thanks for sharing this. I've been posting and considering cryptocurrency as digital currency. Now I see that there is a huge difference among them, is that digital currency has the control, and cryptos are not.