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Whats digital money | They are more commonly becoming known as virtual currencies, a subclass of digital currencies, in an effort to distinguish them from officially recognized money. They can also find restricted use among certain online communities, such as gaming sites, gambling portals, or social networks. There has been discussion about a digital dollar for several years, but it seems unlikely to happen in the U. This is usually done by depositing an equivalent amount of fiat, which can be used to redeem the tokens. Cryptocurrency Explained With Pros and Cons for Investment A cryptocurrency is a digital or virtual currency that uses cryptography and is difficult to counterfeit. The SWIFT system, a payments systems network consisting of various banks and financial institutions across the globe, is an example�each transfer conducted through the SWIFT network has an associated charge. Understanding Digital Money. |
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