Digital currency is a type of currency that has no physical form, and only exists in digital form.
There are two forms of digital currency.
The first is virtual currency, which is a currency that only has value within a specific community, such as Simoleons in The Sims 4, or the gold pieces in Runescape.
The second form is cryptocurrency, which has real world value.
Cryptocurrency is a digital currency based on mathematical algorithms and uses peer-to-peer networking to electronically transfer tokens over the internet.
It is a decentralized currency, which means it’s not tied to any one economy or physical currency system.
Cryptocurrencies use digital wallets as their main interface.
Digital wallets are financial accounts that allow users to store funds, make transactions, and track payment histories via computer.
They are included in bank mobile apps and on apps such as paypal. Digital wallets are convenient because,
by securely and compactly storing all of a consumer’s payment information, they eliminate the need to physically carry a wallet with you.
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