What is cryptocurrency?
Cryptocurrencies or cryptocurrencies, digital money (Cryptocurrency) is money that has been digitized, that is, money in the form of digital bits. Cryptocurrencies are only used in the electronic environment for electronic payments through information systems including computer networks, Internet and electronic means stored in the database of issuers.
In addition, electronic money is represented in the form of a currency pen on the account that the customer opens at the issuing organization, specifically, electronic money is a means of electronic payment that is secured with electronic signatures, and Like banknotes, it functions as a means of exchange, buying, selling, and accumulating value.
If the value of paper money is guaranteed by the issuing government, then for electronic money, its value is guaranteed by the issuer by committing to convert electronic money into paper money as required by owner.
What is virtual currency?
There are many different interpretations of cryptocurrencies:
Unpredictable currency: However, this is inaccurate understanding. Because even with USD or VND, if you deposit into an account in the bank and pay via ATM card, Visa, then your money can not be grasped, but it is the real currency. virtual money.
A currency that cannot be used for payment via different systems: For example money in game account, money in mobile account ... only valid for use at the issuer, not exchangeable. trade.
Virtual money is electronic money: This understanding is also not correct, but in actual use, most users when referring to the concept of virtual money, is referring to the concept of electronic money mentioned above.
What cryptocurrencies / cryptocurrencies are there?
Usually when it comes to virtual money or electronic money, most of the respondents will mention Bitcoin, but at the time of writing (November 2017) in the world there have been more than 1200 different cryptocurrencies. To be able to track the name, code and exchange rate of each currency, you can visit the website https://coinmarketcap.com.
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