Difference between revisions of "Digital currency"
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| − | A '''digital currency''' refers to money or [[wikipedia:scrip|scrip]] which is only exchanged electronically. | + | A '''digital currency''' refers to money or [[wikipedia:scrip|scrip]] which is only exchanged electronically. Digital currency can take different forms, such as cryptocurrency, digital currency issued by central banks and virtual currencies. |
| − | When money transfers occur as a bank wire transfer or ACH payment, or even transfers of money using services such as [[PayPal]], the funds are sent electronically but the currency transmitted is representative money and what transfers is an underlying fiat currency. | + | When money transfers occur as a bank wire transfer or ACH payment, or even transfers of money using services such as [[PayPal]], the funds are sent electronically but the currency transmitted is representative money and what transfers is an underlying fiat currency. |
[[Bitcoin]] has been described as the first decentralized digital currency. | [[Bitcoin]] has been described as the first decentralized digital currency. | ||
Latest revision as of 21:34, 8 January 2024
A digital currency refers to money or scrip which is only exchanged electronically. Digital currency can take different forms, such as cryptocurrency, digital currency issued by central banks and virtual currencies.
When money transfers occur as a bank wire transfer or ACH payment, or even transfers of money using services such as PayPal, the funds are sent electronically but the currency transmitted is representative money and what transfers is an underlying fiat currency.
Bitcoin has been described as the first decentralized digital currency.
See Also
External Links
- Electronic Money article on Wikipedia
