Currencies and virtual currencies
Unlike currency and coins, digital currencies are intangible currencies!
This means that any intangible currency that an individual can not feel is an electronic currency. This means that the money in the credit cards and the money that is sent and received through electronic banks is considered an electronic currency system, but if it is touched and felt, as it's known.
The Cryptocurrency is divided into two sections. The second is the currency, while the first is Crypto, which is the abbreviation of Cryptography.
For example, a person can get a home in a process called a bitcoin mining.
In another definition, digital currencies are digital assets designed to act as a medium for exchange of money or anything valuable in a transaction. They rely on cryptography to secure these processes, to control the addition and deletion of units, and finally to document and validate these Processes.
Digital currencies, like paper and metal coins, are able to purchase all goods and services
There is a lot of electronic currency now on the Forex market, and it is growing in hysteria as a result of the supply and demand law. For example, in December 2017, the price of Betquin exceeded $ 17,000 and since the number of Baitcoins is 21 million Unit only, making the competition as a currency or a product circulated by the general investors.
How do digital currencies work?
Digital currencies, specifically petquin, are decentralized currencies, meaning that no government or institution can control the production of more.
But how are digital currencies controlled?
Digital currencies are controlled by a technology called Blockchain.
The block series was defined in the book Blockchain Revolution by the writer Don Tabscott and his brother as a non-tamperable electronic accounting book for economic transactions that can be programmed not only to record financial transactions, but also for anything of value.
In the sense that every economic or financial transaction occurs on the system is recorded and encrypted in a block, and linked to other blocks to form a series of blocks, understand it ?!
The digital currency system or the Betquin system is a decentralized system for sending and receiving money
1 - super speed, where the transfer of what you want in less than a few seconds, unlike the traditional banks that take days.
2. The cost is very low, as the cost of money transfers is almost free or negligible.
3 - Protection and transparency, as every economic or financial operation is saved in a mass and distributed to millions of computers around the world, making the process of penetration is impossible in practice, and the financial process takes place in front of the world, making attempts to manipulate them impossible.
4 - decentralized any non-affiliated to any central bank.
The way digital currencies work makes them very unique in comparison to conventional systems in financial transactions whether online or in real fact.
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