What is Digital Currency?

 

What is Digital Currency?

Digital currency is a payment system that is not based on fiat currency, but rather an alternative non-tangible currency. In practice, digital currency serves a similar practice to other currencies in terms of acting as payment in transactions.

Unlike cash, digital currency lacks a physical form, therefore allowing for instantaneous transactions. Such a unique characteristic allows digital currency to facilitate transactions across international borders. It is important to note that digital currency is not considered legal tender.