What is virtual currency?
Virtual currency is digital money that is not regulated by any form of central bank. Bitcoin is one kind of digital currency, and in some places, it is approved as a means of payment for buying and selling on the Internet.
Opportunities when using virtual currency
Transactions using virtual currency are made directly between parties without involving banks or other “middlemen”. In other words, there is no need to pay currency exchange or handling fees.
What types of digital currency are there?
Bitcoin is a digital currency distributed and controlled via a Blockchain. Bitcoin is one of the most widely used virtual methods of payment for buying and selling on the Internet, and is one of the first implementations of a cryptocurrency.
Relevant terms to virtual currency: Bitcoin, Blockchain