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

[Sally Yina 391]

Thank you for your great explanation of the difference between digital currency and cryptocurrency. I think members who don't know the difference will be able to find it through your content. If you work here, you can benefit a lot in a short time and learn English. 

[sparea780 33]

yes i do. the digital money is the software version of the money we use in our regular life & the virtual money is the money that gives the owner access to converting it to any other money at will & using them. they can only be used virtually rather not physically.

[sugulalia 12]

The problem of the crypto wallets that we can't retrieve if we load the phrases that the bank's crypto problem (wallets) doesn't have insured, and they don't even save a copy of the crypto phrases if we need to retrieve the number.

[EddyDavidson 219]

I'm going to think that I know a little bit about digital currency and crypto currency. The difference between them, I think, is you can spend digital money to buy some things such as money one have in its account. But you can not buy things with crypto currency except of BTC. You have to first exchange this crypto currency with digital money to use it.

[Jen Jordan 0]

Well you did a pretty good job in collecting all that information and delivering it to us that too in simple words. I had a basic idea about cryptocurrency and other forms of money , but this has helped me to understand it better. Even if the members are not educated till this level, they need to be aware if the fact that cryptocurrency are decentralised while normal currency is centralised. So as there is no body to regulate it's growth, it is an orchard for smart investors. 

[Amal pulikkal 189]

Well describe mate. Actually I new in this platform so I didn't get difference but when you described it almost differents understand really you done a good job. We need this like platform these are really better that other platforms in my experience.

[Fazihere07 109]

Yes i know the difference between digital currencies and the crypto currency i think crypto is also called a digital currencies because we earn a digital currencies with this forum and earn on a yobit platform so they also called a digital currencies and i think we should move to crypto currency because in future we all are use the digital currencies more than National currencies

[Anora jr 8]

The difference between digital money and cryptocurrencies is that digital currencies are centralized meaning the transaction within the network is regulated in a centralized location like bank. Cryptocurrencies are mostly decentralized and the regulations inside the network are governed by the majority of the community.

[Hasem3 192]

Cryptocurrencies have their own meanings that anyone can hold and no one controls cryptocurrencies.  However, digital money is banned by the country, not by the government.

[Owaiskk 299]

Nice post dear friend you describe and differentiate in a good way before we have no idea about this this topic is beneficial for all member speciall for biginner thanks for information dear friend

[Lovely0012 85]

In digital currency there a lot of people and computers that regulates transactions of money. In Cryptocurrency regulations are made by majority of community. Digital currency involves user identity as compared to cryptocurrency

[Barry123 95]

Thankyou close friend for sharing YOUR fantastic area. Actually you can find a number of differences in between virtual money and crypto currencies.and you'll find lots of similarity amid them.both are money however, different electronic money arrives from hands.on one flip hand, crypto currencis will come into consideration out of where the real money tends to move money.

[Adil meo 24]

Hi everyone.and i am new here also.i dont know digital currency and cryptocurrency.i think valuable information for me.

[Mir Hamza 2888]

My friend you have shared a tremendous information with us. Whatever is the digital currency, the central bank also controls them and as there is more space for it like skrill, netlier, paypal etc. And on the other hand, as you talked about cryptocurrency, freeing cryptocurrency to support it to having an exchanges. 

[scofield64 943]

Thanks for this clarification and clear difference between digital currency and cryptocurrencies. Let's me add mine to digital currency can be money stored and can be printed as fiat currency while cryptocurrencies are online currency and cannot be withdrawal as fiat currency. 

[Andriya123 0]

Yes, i understand something about digital money and cripto currency, i think digital currencies are centralized, meaning that transaction within the network is regulated in a centralized location, like a bank. Cryptocurrencies are mostly decentralized, and the regulations inside the network are governed by the majority of the community

[Abs01 22]

Thank you mate for sharing this wonderful information, I actually think cryptocurrency and digital money are the same until now, now I know the difference and I believe every single member found this post benefited also.

[Qlassiqcheeks 66]

I don't really understand this topic because am new here so I think the old members need to orient we the new members to avoid mistake and been scam by others 

[Mohsinrafiq169 210]

My friend, digital currency and cryptocurrency is one thing.There is a difference between the two names Less is one or two.Crypto may post and err When digital currency is the name of the stock market in which trading takes place.

[angel 1 17]

Yes I fully understand the difference between crypto money and paper money . You explain wellabout both of these money I prefer to the use of paper money instead of the cryptocurrency but I think cryptocurrency is more important in future than that of the paper money. This  is useful information for newbies

[Sophie0011 261]

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

[noumair 392]

Hello friend, thank you for sharing this information, as digital money can obtain a credit card from the bank in order to deal with it and this isn't possible in the case of cryptocurrencies and digital currencies can be used everywhere unlike cryptocurrencies .

[Rimi161 13]

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.

Thanks for sharing this informative and effective post.i really don't know abot both the difference between them.thanks

[Zoiakhan 85]

Dear Thanks for sharing ur valuable post .Digital currencies are centralized, meaning that transaction within the network is regulated in a centralized location, like a bank. And  Cryptocurrencies are mostly decentralized, and the regulations inside the network are governed by the majority of the community. 

[Rafin478 614]

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.

We can control digital money but no one can control cryptocurrency because it is decentralized.There are many types of digital money, but new coins and tokens are being added to the cryptocurrency every day.