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Digital currencies
First - Definition of encrypted digital currencies:
Virtual currencies are known with several definitions, the most important of which is: a digital representation of a monetary value that is not issued by a bank or a public authority. It is not necessarily in paper currency, but it is accepted by natural or legal persons as a means of payment. It can be transferred, stored or traded electronically.
- In another definition, it is defined as: a virtual digital currency (with no tangible physical entity or physical presence) produced by computer programs, and not subject to control or control by a central bank or any official international administration, which is used via the Internet in buying and selling operations. Or convert it into other currencies and receive optional acceptance by those dealing with it.
It is also known as: a virtual currency that operates outside the official monetary system. It is a digital representation of monetary value issued by other than the central bank and credit institutions, and its value is derived from the trust existing in acceptance. $USDC