Digital currency is basically money that exists only in electronic form, not in the form of physical coins or bills. No one can hold it in their hands, but you can use it to buy a lot of things, transfer funds, or even invest—just like normal money. The main difference is that it’s all online.
What does it mean?
Digital currency is basically money that is only available online. You can use it to buy stuff or send money to people, but it is not something you can hold in your hand like normal cash. It works through a computer or phone, and everything happens digitally
There are a few main types of digital currency
1: Cryptocurrency
2: Central Bank Digital Currencies (CBDCs)
3: Stablecoins
4: Digital Wallets and Tokens
Each type has a different purpose, but they all exist in the digital space!
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Newsroom 47