Question

Write a short note about ‘Digital Currency’​

Answer 1

ᴅɪɢɪᴛᴀʟ ᴄᴜʀʀᴇɴᴄʏ ɪs ᴀ ғᴏʀᴍ ᴏғ ᴄᴜʀʀᴇɴᴄʏ ᴛʜᴀᴛ ɪs ᴀᴠᴀɪʟᴀʙʟᴇ ᴏɴʟʏ ɪɴ ᴅɪɢɪᴛᴀʟ ᴏʀ ᴇʟᴇᴄᴛʀᴏɴɪᴄ ғᴏʀᴍ, ᴀɴᴅ ɴᴏᴛ ɪɴ ᴘʜʏsɪᴄᴀʟ ғᴏʀᴍ. ɪᴛ ɪs ᴀʟsᴏ ᴄᴀʟʟᴇᴅ ᴅɪɢɪᴛᴀʟ ᴍᴏɴᴇʏ, ᴇʟᴇᴄᴛʀᴏɴɪᴄ ᴍᴏɴᴇʏ, ᴇʟᴇᴄᴛʀᴏɴɪᴄ ᴄᴜʀʀᴇɴᴄʏ, ᴏʀ ᴄʏʙᴇʀ ᴄᴀsʜ.

ᴋᴇʏ ᴛᴀᴋᴇᴀᴡᴀʏs

ᴅɪɢɪᴛᴀʟ ᴄᴜʀʀᴇɴᴄɪᴇs ᴀʀᴇ ᴄᴜʀʀᴇɴᴄɪᴇs ᴛʜᴀᴛ ᴀʀᴇ ᴏɴʟʏ ᴀᴄᴄᴇssɪʙʟᴇ ᴡɪᴛʜ ᴄᴏᴍᴘᴜᴛᴇʀs ᴏʀ ᴍᴏʙɪʟᴇ ᴘʜᴏɴᴇs, ᴀs ᴛʜᴇʏ ᴏɴʟʏ ᴇxɪsᴛ ɪɴ ᴇʟᴇᴄᴛʀᴏɴɪᴄ ғᴏʀᴍ.

sɪɴᴄᴇ ᴅɪɢɪᴛᴀʟ ᴄᴜʀʀᴇɴᴄɪᴇs ʀᴇϙᴜɪʀᴇ ɴᴏ ɪɴᴛᴇʀᴍᴇᴅɪᴀʀʏ, ᴛʜᴇʏ ᴀʀᴇ ᴏғᴛᴇɴ ᴛʜᴇ ᴄʜᴇᴀᴘᴇsᴛ ᴍᴇᴛʜᴏᴅ ᴛᴏ ᴛʀᴀᴅᴇ ᴄᴜʀʀᴇɴᴄɪᴇs.

ᴀʟʟ ᴄʀʏᴘᴛᴏᴄᴜʀʀᴇɴᴄɪᴇs ᴀʀᴇ ᴅɪɢɪᴛᴀʟ ᴄᴜʀʀᴇɴᴄɪᴇs, ʙᴜᴛ ɴᴏᴛ ᴀʟʟ ᴅɪɢɪᴛᴀʟ ᴄᴜʀʀᴇɴᴄɪᴇs ᴀʀᴇ ᴄʀʏᴘᴛᴏ.

ᴅɪɢɪᴛᴀʟ ᴄᴜʀʀᴇɴᴄɪᴇs ᴀʀᴇ sᴛᴀʙʟᴇ ᴀɴᴅ ᴀʀᴇ ᴛʀᴀᴅᴇᴅ ᴡɪᴛʜ ᴛʜᴇ ᴍᴀʀᴋᴇᴛs, ᴡʜᴇʀᴇᴀs ᴄʀʏᴘᴛᴏᴄᴜʀʀᴇɴᴄɪᴇs ᴀʀᴇ ᴛʀᴀᴅᴇᴅ ᴠɪᴀ ᴄᴏɴsᴜᴍᴇʀ sᴇɴᴛɪᴍᴇɴᴛ ᴀɴᴅ ᴘsʏᴄʜᴏʟᴏɢɪᴄᴀʟ ᴛʀɪɢɢᴇʀs ɪɴ ᴘʀɪᴄᴇ ᴍᴏᴠᴇᴍᴇɴᴛ.