However, cryptocurrencies operate on decentralization, meaning they don’t need government backing to hold value or function.

What is the difference between cryptocurrency and real currency?

There are three common types of virtual currency: game coins, special-purpose currency (such as Q coins), and virtual currencies like Bitcoin.

Cryptocurrencies like Bitcoin cannot replace legal tender. In reality, they are a special type of commodity, lacking general equivalence, circulation, and payment functions.

For example, when netizens use virtual currency to vote for streamers, it is similar to fans sending flowers to idols, and does not count as replacing the functions of real currency.

Real currency represents utility, and its value is conferred by national law; virtual currency represents value, and its value relies on user consensus. Moreover, virtual currencies can only be traded in specific marketplaces.
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