Assets, Bitcoin

Is Bitcoin a Virtual or Digital Currency?

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain.

Bitcoin is unique in that there are a finite number of them: 21 million.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.

NOTE: Warning: Bitcoin is a digital currency, but it is not the same as virtual currency. Virtual currency is a type of unregulated digital money that is not backed by any government or central bank, while Bitcoin is decentralized and regulated by the community of its users. As such, it may be more volatile and subject to fraud or malicious activity. It is important to research and understand the risks associated with investing in Bitcoin before deciding whether or not it is right for you.

As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

Bitcoin is a virtual or digital currency? What is the difference?

A digital currency is a type of currency that exists only in digital form. Bitcoin is an example of a digital currency.

A virtual currency is a type of digital currency that is used within a virtual economy. Bitcoin can be used as both a digital currency and a virtual currency.

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