The idea of digital currencies, cryptocurrencies, and the blockchain is becoming more and more common with every passing day. However, the world has more than seven billion people and it will still require many years for everyone to know what cryptocurrencies are. Perhaps, you are someone who wants to know about digital currencies too. So, what is digital currencies? If this question is bugging you, here is the answer in great depth.
They Are Truly Digital
Yes, they are truly digital. If you are wondering what Bitcoin looks like or the paper bill of Ethereum looks like, you are asking the wrong questions. These currencies do not exist in the real world. They are completely digital. They are produced in the digital world and that’s where they are used. Yes, you can use a crypto coin in real life for purchasing tangible goods as well, but you will still be transferring the money digitally. You will not hand over some currency bills and call them cryptocurrency.