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

[Hanan951 841]

the problem of the wallets for the crypto that we can't recover if we loat the phrases the problem of crypto the banks ( wallets) don't have insure and even they don't save a copy of the phrases with kyc if we need to restore the amount.

[BTC Future 3946]

The coins governments around the world want to create (CBDC's) might be called cryptocurrencies by some but still they will lack the core fundamental of cryptocurrencies, which is decentralization. Without a decentralized environment cryptocurrencies wouldn't have grown as they did. They would be subject to manipulation by their dev as he would be able to change the code and print an excess trillion coins any time he wanted. A decentralized environment means that noone is in charge besides the code, and changes have to reach consensus between various participants.

[Honny143 13612]

My dear mate I heard digital currency and ctypto currency so many times and I think both are same, but your topics change my opinion and now I know the difference between digital  and crypto currency, its really good lesson for me and really thank you to share this topic.

[Dark_Sky 8489]

On 3/24/2020 at 5:12 AM, Omar Ommeish said:

Thank you
This post is very important for many beginners, so the satoshi we earn from the forum is cryptocurrency.

That's right, I'm sure they can now understand the difference about digital money and cryptocurrencies. 

They can also use that information if some people ask them the difference of these two. 

[Kenciuu 1729]

Thank you for the information. This was an interesting post. Some of us mistaken about the difference of that two just like me that I thought they are the same but it is not. 

[jacker 1095]

Yes, I am confused between the two concepts of cryptocurrencies and cryptocurrencies, at first I could not distinguish these two concepts, I even thought they were one. I have distinguished now. I believe that many people are confused just like me. I find it difficult to understand the concept of digital money, simply understand it is private money to use on the internet.

[Whited35 15285]

Cryptocurrencies are operated within the internet connections and as the decentralized system, it uses blockchain technology to to confirm the transactions. On other hand, digital currencies can be anything which will be operated in the designed online system like digital USD, digital EURO etc. 

[Dark_Sky 8489]

On 3/25/2020 at 5:32 PM, Mazen1996 said:

Hello my friend
Thank you for summing up money in the world
I hope the world will deal with digital currencies
Bitcoin will rise
Best wishes for your success

Bitcoin will rise no doubt about it. 

After 10 years in my opinion it will still the top 1 coin in the market. 

Hopefully I wish it will accept by the other countries for the better future. 

[Ayush Singh 1175]

Exacrly i agree with your information about the digital coins and Cryptocurrencies both are different in there own ways but due to lack of knowledge among the users they treat Cryptocurrency also as a digital currencies i think your post will help them to nourish there knowledge. 

[koussai999 1986]

Thank you my friend for this clarification
I think that digital currencies are the same as traditional currencies, but banks and companies have converted them into a digital way to deal with them in a possible way in the Internet world

[betelihem 4766]

On 3/20/2020 at 12:18 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.

Yeah its good information's, and we have to remember that cryptocurrancies are currencies of crypto coins which are generated from high powered computers, but we can't generate digital moneys, digital moneys are moneys that we deposit on banks and we use digital technologist to trade with it, and we have to remamber that degital moneys have fixed price 1$$ means 1$$ it don't change but cryptocurrancues have fluctuating price.

[ETheHedgehog 3104]

Digital money is something like Paypal where you use real fiat currency like USD but online through a service, crypto currencies are Bitcoin and others who don't rely on a fiat currency

[Ms.o 3322]

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.

[nykas 2812]

Digital money works like common money, it`s still being contorlled by third part person or organization but cryptocurrency based on blockchain and it`s decentralized so crypto money is safer 

[Wilmer Garcia 0]

Thank you very much for sharing this very nutritious topic for all of us personally learned to differentiate between the two types of coins and that is very important to me

[Dark_Sky 8489]

On 4/4/2020 at 9:54 PM, nayon89 said:

Thanks for making this clear. You have described it in details. Many of us will be pleased by seeing this post. Newbies will learn something from that. They will have a clear concept about these two

That's right, I'm sure some members here newbies or not don't know the difference of that two which is reading his post make them realized and learn what makes them differ. 

[issa123h 0]

So we can say that the digital money is a currency that has a real physical presence within the banks, but sometimes it is moved through electronic transactions. But the digital currency has no real physical presence, but only numbers within portfolios like Bitcoin

[Beast921 952]

In my opinion,digital currencies are the currencies which you can use in your daily life to buy many stuffs.On the other hand crypto currecnies are another type of currencies like bitcoin ether etc.You can convert them into digital currencies.

[Jaysen0104 536]

Cryptocurrency and digital money have similarities and differences. And by the help of those we can manage easily our funds. But some people see this two as they are the same but it is not. We can't use digital currency to use as asset in crypto trading and investing but we can exchange it to cryptocurrency to use as our asset to earn money.

[P A Ashif 2409]

 OK I will explain what I think about the difference between cryptocurrency and digital money I think that cryptocurrency is the sub division of digital money. Digital money include fiat money too.

[Raqeebzy 6456]

I see even cryptocurrency professionals making this mistake of cryptocurrency and digital currency as the same. Cryptocurrency is digital but not the same as digital currency as encryption and decentralisation major difference between the two.

[BrolySSJ 7899]

thank you for sharing this money. I often referred to crypto and a digital currency and therefore this is how i explained it to people. However i see here that there is in fact a difference between the two and i will be to make not of this in the future when i am explaining to other people about crypto. From my understanding of your post, the digital currency would encompass things like online banking, whereas crypto is those that occur on the blockchain and so forth.

[Rahul11 292]

On 3/20/2020 at 3:18 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.

There are many advantages and disavtanges on both payment systems. As I know that digital currency is based on online currency. And cryptocurrency is online currency but it's transactions are anonymous.

[Thekingcallme 1975]

Yes, there is a big difference between cryptocurrencies and digital money and a difference in terms of features, privacy and handling

[Captain Karim 0]

On 3/20/2020 at 11:18 AM, 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.

Can you give me a comparison of the advantages and disadvantages of both cryptocurrencies and cryptocurrencies?
I want to better understand the difference between them.