Do you understand the difference between digital money and crypto currencies?

[Mehboob 638]

Hello dear friend I hope you are doing very good on this platform firstly I want to thank to you for sharing this Useful information and and learning knowledge about digital currency and and cryptocurrency very thankful to you

[Abeera 755]

On 3/20/2020 at 2:18 PM, johant123 said:

Reading the posts here, it seems like many don't understand the difference between digital money and crypto currencies.

 

Digital money is money flowing across networks in digital form. That can be everything, but usually is digital fiat money, backed by central banks. Think of Euros or dollars, but then in electronic form, instead of printed on paper. The channel is encrypted, as are usually the transactions, but the currency does not rely on it.

Crypto currencies are a form of money relying on cryptography, and usually having a decentralized system as basis (instead of backing by a central authority). In contrast with generic digital money, crypto currencies derive their safety from the non-repudiation of crypto transactions.

 

So where you can have a bank account with digital money, stored in one place, somewhere in a database, your crypto coins typically rely on decentralized storage, and encrypted transactions.

I think there now I have get some information about the difference in digital and cryptocurrencies and I think cryptocurrencies are the best because many people are getting huge profit from it and many peoples are becoming rich through it digital money is also important but cryptocurrency has a different value.

[Mahmod aljarah 1383]

After reading your post I noticed that the difference completely, as cryptocurrencies are decentralized digital currencies that are intangible and electronic only, while cash currencies have a tangible type

[Songoko 333]

Dear friend, thank you for this useful post. I am a new member in this forum and I did not know the difference between cryptocurrencies and digital currencies, and I think that cryptocurrencies will spread widely and may be relied upon in future payments.

[Ali.zx 693]

Thank you, my dear friend, your post was useful as I knew very well the difference between cryptocurrency and digital currencies. I hope that member posts will be as useful as your post.

[Kajaha 1395]

In general, everything is correct. But the advantage of cryptocurrency over digital money is complete freedom of action. They are not limited to anything, you can transfer them anywhere and to anyone.

[aliakel131 576]

Most beginners cannot distinguish between digital and cryptocurrencies, but you should know that digital currencies are fiat money located within bank accounts or bank cards. As for cryptocurrencies, they are currencies based on the blockchain, which are decentralized currencies.

[Enasalshrbaji20 516]

Thank you for sharing this information. I did not know that there is a difference between cryptocurrencies and digital currencies. I thought that they were the same and that the names varied and the meaning was the same ..

[AlBashek249 901]

Hello my friend, I wish you good and success. It is an important and beneficial participation for all. I wish you good luck and more progress

[Wael154 1134]

Hi bro, thank you for this information! Yes, the fact is that cryptocurrency is like digital money, but it is not. Digital money is Fiat, which has the ability to exist on the Internet, and which is managed by banks, and cryptocurrency is already freedom of action! You described it correctly, thank you!. 

 

[Ross321 690]

This is important information, it is very important to know that about the difference between digital money and cryptocurrencies, it shows us a lot of things in order not to confuse them.

[Success06 537]

It's the most basic fallacy made by newcomers in forums and in real life. 

The main distinction is that digital money is backed by monetary system, while crypto currency is not,although digital money transactions only send encrypted messages from one location to another, Crypto is the coin because it is totally unregulated.

[Safaa 401]

Cryptocurrencies are all the currencies in reality that are centralized or that belong to a designated country. As for cryptocurrencies, they are decentralized currencies located on the blockchain like btc , eth .

[pacific 2268]

On 3/20/2020 at 3:03 PM, johant123 said:

Digital money is money flowing across networks in digital form. That can be everything, but usually is digital fiat money, backed by central banks. Think of Euros or dollars, but then in electronic form, instead of printed on paper. The channel is encrypted, as are usually the transactions, but the currency does not rely on it.

Crypto currencies are a form of money relying on cryptography, and usually having a decentralized system as basis (instead of backing by a central authority). In contrast with generic digital money, crypto currencies derive their safety from the non-repudiation of crypto transactions.

Thank you for this detailed explanation. To add up, I would say digital money is something that is controlled by central authorities, that includes government. Every transaction in digital money is traced by banks and there's no anonymity like cryptocurrency transactions.

[Sena1234 972]

Cryptocurrencies are all the currencies in reality that are centralized or that belong to a designated country. As for cryptocurrencies, they are decentralized currencies located on the blockchain like btc , eth

[kamela292 496]

Thank you for these useful clarifications. Some members of this platform use the terms digital currency and encrypted currency for the same purpose and meaning. This is a serious mistake because the difference between them is clear and large. Paper money flows electronically. As for the cryptocurrency, it does not have a physical presence on the ground. It also has no paper money

[Huhh1440 712]

In my opinion
This will make cryptocurrencies the number one used globally among other currencies, because they are not affiliated with certain laws and work to shorten effort and time and lead to the circulation and transfer of money from countries that are far from each other.

[Sabaali1600 461]

I want you add some to your post., Crypto currency is also a digital currency .

Digitally currency is that currency which is operate digitally and crypto currency also operate digitally. 

[Ahmad rahge 137]

This is a good question, my friend, as there is a difference between the two, as digital currencies can be exchanged for paper currencies. As for cryptocurrencies, they are specific to the Internet. I do not think they can be exchanged

[Hadimohammed 4]

Thank you for this helpful information,I had a misunderstanding of the difference between the two types of currency.

[businesstime 331]

You described well .I myself thought the both as same.But reality is some what else that you described here.The point i could understsnd from your post is that digitle currency is preasent in physical form in this world but crypto only exist in digitle form and is converted into traditional paper money when needed

[Ashrafi62 489]

Yes. I understand how to make money in this digital cryptocurrency.  First you have to work according to the conditions. Then you have to post usefull.  You can't post wrong. You have to work according to the rules. Then you can earn more money by working in this forum. I think you can understand me.

[Yellow320 206]

Thanks a lot, before reading your topic, honestly I was think both of them are the same.  Thus i get it. Cryptocurrency are decentralized and cannot be used as  paper money, on the other hand, the digital currency are those that are used in Paypal and Visa card.

 

[Marof 669]

I did not have the correct idea of the difference between them, rather I thought that both are two sides of the same work, as it is said.
Thanks for the explanation to distinguish between them and the real difference that we must know
As I mentioned, I think that many people do not know what the difference is and they think as I thought that the name came because of the use of currencies in the digital world, not the real one.

[Boshra 400]

On 20‏/3‏/2020 at 11:18, johant123 said:

عند قراءة المنشورات هنا ، يبدو أن الكثيرين لا يفهمون الفرق بين النقود الرقمية والعملات المشفرة.

 

النقود الرقمية هي أموال تتدفق عبر الشبكات في شكل رقمي. يمكن أن يكون هذا كل شيء ، ولكن عادة ما تكون نقودًا رقمية مدعومة من البنوك المركزية. فكر في اليورو أو الدولار ، ولكن بعد ذلك في شكل إلكتروني ، بدلاً من طباعته على الورق. القناة مشفرة كما هي الحال عادة في المعاملات لكن العملة لا تعتمد عليها.

العملات المشفرة هي شكل من أشكال المال يعتمد على التشفير ، وعادة ما يكون لها نظام لامركزي كأساس (بدلاً من الدعم من قبل سلطة مركزية). على عكس النقود الرقمية العامة ، تستمد العملات المشفرة سلامتها من عدم التنصل من معاملات العملة المشفرة.

 

لذلك ، حيث يمكنك الحصول على حساب مصرفي بأموال رقمية ، مخزنة في مكان واحد ، في مكان ما في قاعدة بيانات ، تعتمد عملاتك المشفرة عادةً على التخزين اللامركزي والمعاملات المشفرة.

This is a good topic. In fact, I did not know very well about the difference between them, but after reading the post and reviews, this was one of the most useful and important comments on this topic, and now I know the difference between digital money and cryptocurrencies.