Digital currenciesMoney & EconomicsUncategorized

What are digital currencies

What are digital currencies? This question has been raised a lot recently, especially after the spread of the circulation of these money in the form of digital currencies.

Digital currency is considered one of currencies that traded digitally. and isn’t found physically. It is characterized by simply and speed, It is the currency of the future.

 And It is possible to trade and exchange digital currencies between people and transfer their ownership from one person to another.

and digital currencies can be used to purchase for different consumers.

 But only through the community that allows these currencies to be traded among themselves.

and your currency account can be placed on a card linked to your digital currency balance and registered on it electronically. 

You can also put your currency account on the Internet in the form of bank deposits, and we will learn through this article what are digital currencies?

What are digital currencies?

What are digital currencies It is called encrypted currency or is known as electronic currency. Features of currencies. 

  •  Digital currency is not like physical cash, as you cannot hold it by hand, it only exists in electronic form.
  • It is possible to trade currencies between people and transfer their ownership.
  • currencies began to appear in 1990, when electronic gold appeared.
  • The Liberty website in 2006 allowed its users to transfer regular bills such as dollars .
  • or euros into digital currency.
  •  Liberty also allowed users to trade cryptocurrencies among themselves at a rate of 1%.

How do I pursue digital currencies?

After we got to know what digital currencies are. It remains to get to know how we trade these currencies: 

  • You can use the Trading view page, which gives you a lot of information about digital currencies.
  • On the page there is information about more than 200 currencies.
  •  You can know the prices of currencies, such as Bitcoin, through the page, by clicking on usd_btc
  • You will see all the information about the Bitcoin currency, the total number of the existing currency, the price at which the closing stopped, the trading volume of the currencies, and the changing percentage of the price.
  •  You can also get acquainted with an analysis of the fluctuations of currencies in the market.
  • by clicking on the tool tab on the page.
  •  You can also specify the time that you want to see the currency analysis.
  • Which indicators on the page help you determine your next investments in the digital currency market, and market trends in trading.

Digital dollar price

After we know what digital currencies are, we find The prices of digital currencies differ according to their last closing price.

and we will show below the prices of some digital currencies in dollar:

  •  bitcoin currency btc_

31,765,37

  •  Ethereum coin etc

1,975,57 

  • Thera coin usd

0,9994

  • Digital dollars usdc

1,0002

  •  Binance Coin bnb

320,59

  •  Cardano ada

0,6499

  •  Ripple Xrp

,4223,

Types of digital currencies

Considering our knowledge of what are digital currencies and services? We will learn about the most famous types of currencies.

as there are three types of currencies, and we will mention them in the following: 

  •  Cryptocurrency

Cryptocurrencies are money currencies, digital assets and digital formed that are encrypted to not declare transactions that take place in the currency.

Encryption aims at controlling currency formula and how to trade. Bitcoin and Ethereum are the most popular.

  •  Virtual currencies

The developer who created it controls the virtual currency or through laws that determine the way to deal with it, payment-systems.

and it is a type of digital currency that does not follow a specific system, as it operates according to its own laws.

  •  Central bank digital currencies

These central bank issued these currencies (CBDCs) .

read also:Profit from digital currencies … 5 tips

Characteristics of currencies

Digital currencies are characterized by some characteristics in dealing with them that distinguish them from the method of trading and dealing in bills.

and we will review some of the characteristics of currencies, as follows:

  • Digital currency software interfaces are free, and anyone can join it.
  • which makes them available to everyone, and receives many sources without any conditions.
  •  A code is designed for each digital currency to encrypt it .
  • when trading between users, as it is impossible to send the same currency to several people due to the presence of its own encryption code.
  • which makes the process of counterfeiting currencies impossible.
  •  Digital currencies allow their owners to hide their identity and not be identified.
  • as currencies are traded through an encrypted wallet number.
  • and an encrypted address for the owner. Currency trading does not require the user’s identity.

read also:How to buy digital currencies Top 4 Bitcoin sites 

After we know what a digital currency is, we will learn about the most famous currencies.

as there are more than 5,000 types of currencies in the trading market.

and we will present some of the most prominent of these currencies .

and their characteristics, and their most important advantages are as follow:

1.Bitcoin

  •  Bitcoin is one of the oldest in the digital currency trading market, that attracts many investors.
  •  Bitcoin issued in 2009 from an unidentified person
  •  The trading volume of Bitcoin in the markets reached $.730 billion.
  •  Bitcoin was able to achieve great success in the digital currency trading market, as the price of the currency rose dramatically to $ 38,000.
  •  One of the most important reasons why this currency has topped .
  • other currencies is that Bloomberg has started accepting payments for its products using Bitcoin.
  •  One of the most common problems that Bitcoin currently faces is the slowness of dealing with it, as the duration of one transaction is 10 minutes.
  • The cost of sending transactions has also become very high.
  •  It is now possible to create new Bitcoins, by solving a group of puzzles called mining, which are found only on expensive devices.

2.Ethereum coin

  •  Ethereum was released in 2015 and its value in the trading market has reached $327 billion.
  •  What distinguishes the currency is the existence of smart contracts and decentralized applications that occur automatically.
  • and in which transactions require just a few seconds. 
  •  The currency was able to achieve high growth, as its price reached $2,700.
  •  The Ethereum currency faces the same problem as the Bitcoin currency, as it uses the old method to verify the transactions, which leads to a very severe crowd.
  • and delays the transactions process.
  •  Ethereum also faces significant competition with other coins on similar platforms, such as NEO.
  •  Ether uses only one coding language, which affects developers’ access to it.

3.Digital currency Tether USDT 

  •  Tether, the digital currency, is supported by the US dollar and the euro.
  •  The value of the tether currency is equal to the value of the dollar and the euro.
  •  The volume of Tether in the trading market reached $78 billion.
  • Many investors also prefer to trade that currency.
  • for fear of market fluctuations.
  • and because it is supported by the dollar and the euro.

4.Binance Digital currency (BNB) 

  •  The Binance currency is one of the very popular currencies preferred by many users.
  •  The value of Binance Coin in the cryptocurrency trading market is $63 billion.
  •  Binance Coin was launched in 2017.
  •  The currency was able to grow rapidly, reaching a value of $377.

At the conclusion of the article we have known currencies are and that they are electronic and not physical suitable for circulation and transfer of ownership.

and the characteristics of currencies have also been reviewed.

and the most famous types of these currencies such as Bitcoin and Ethereum.

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