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Digital money or Crypto currency?

Is there any difference between digital money and crypto currency.

Answers 1

Yes there is a difference, those cryptocurrency is a term popularized by the cryptocurrency community and was widely used for digital assets that are usually decentralized in nature. digital money or digital currency is a more general term used to describe any currency in a digital form including those that will be issued by sovereign states. Some authorities do not use the term cryptocurrencies they usually use virtual currencies. Of course all these terms are not set in stone sometimes their terms are interchangeable. In fact in the early 1990s there was a private US firm that use the term digicash. The point is since it is new and not yet widely accepted many terms have been used loosely around currencies that reside in digital form such as:

  • Virtual Cash
  • Virtual Currency
  • Electronic money
  • Electronic currency
  • Digital Cash
  • Digital Currency
  • Cryptocurrency
  • Crypto Money
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