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Digital currency
Digital currency is a type of currency that is only available in digital or electronic form, rather than physical form like banknotes or coins. It is also known as virtual currency or cryptocurrency. Digital currencies use cryptography to secure and verify transactions and to control the creation of new units.
One of the most well-known digital currencies is Bitcoin, which was created in 2009. Bitcoin operates on a decentralized network and is not controlled by any government or financial institution. Other popular digital currencies include Ethereum, Litecoin, and Ripple.
Digital currencies can be used to purchase goods and services online or transferred between users through peer-to-peer networks. They can also be traded on various digital currency exchanges. Digital currencies have the potential to offer faster and cheaper transactions, greater privacy and security, and greater accessibility for people who do not have access to traditional banking systems. However, they also come with risks such as volatility, lack of regulation, and potential for fraud or hacking.