Since the creation of the Internet, money has become one of the most important pillars of the global web, and global e-commerce has grown from a few dollars to trillions of dollars today.
Of course, since the last century, as news websites, blogs, and domains have proliferated, e-stores, banks, and the sale and purchase of products have sprouted, and the network has expanded not only to archive and access information but to conduct financial transactions, make deals, and work remotely.
Definition of digital currency and the history of virtual and cryptocurrencies can easily explain with help of Google. We discussed that money has entered the Internet since the last century and in the early years of establishing the Internet, and since then virtual, digital and cryptocurrencies have been terms that are growing in popularity and now we are in the process of a major revolution.
There is, of course, a difference between the electronic currency, the digital currency and the cryptocurrency, it is three different terms, if they are somehow close, but it is necessary to know the differences between them.
A common concept when you hear about these terms is that we are talking about Bitcoin and its many competitors, but the money on the Internet as we indicated is not short for these digital currencies and cipher.
Let’s get to know simply the difference between electronic currency, digital currency and cryptocurrency.
What is electronic currency?
The money on the Paypal account is an electronic code and when you request to transfer it to the Master Card, the process is done by transferring the electronic amount to your card with the transfer of the real balance in parallel with it.
The features of the electronic currency become more clear when you apply to carry out operations from your computer or phone by entering your bank account and specifying sending 1,000 dollars, for example to a specific person, that you access his account without the need to withdraw cash and hand it over to him in cash. Simply put, if users don’t trust the currency, then they will want to sell and the price of BTC will drop. Conversely if users trust it, then the price will rise in proportion to demand
Also this is evident in another example, which is that when you browse an e-store and charge the balance in it, you enter into your account and put the card or electronic bank in which your electronic money is located, and that money is withdrawn immediately and occasionally to your account on the store and you start shopping and buying Without needing to pay in cash after delivery or before delivery.
Applications, games, and entertainment devices that contain the electronic balance which includes the money that you spent to ship it, in this case it is electronic money and belongs to the so-called electronic currency and it appears of course in the form of a balance in US dollars or any other approved cash currency that is issued by the central banks.
What is virtual or digital currency?
As for the virtual or digital currency, it is not like the dollar, the euro and the coins in the form of numbers on the Internet called electronic currencies, but rather it has different names and is not controlled by the central banks in what does not exist on the ground.
These currencies exist in the virtual or digital world only, and we talk about some of them such as Bitcoin and other currencies. You can invest the bitcoin and gain benefits through Financial Peak
What distinguishes these currencies is that they can be disbursed to the dollar and monetary currencies, but their value is estimated by these currencies that we use on the ground as they are also estimated at the value of each other where we find that Bitcoin has a certain value of ripple and so on, not to mention that you can buy a digital or virtual currency and convert it to Another competitive digital currency without the intervention of coins in the process.
So there are also many online platforms which help in making money easily with help of the bitcoin.