Meaning
Digital currency refers to money available only in electronic form, managed and exchanged through digital networks.Definition
A Digital Currency is a form of currency existing purely in electronic records, distinct from physical cash. It’s stored and transacted digitally.Key Characteristics
It enables fast, secure transactions. Digital currencies can be centralized (e.g., Central Bank Digital Currency) or decentralized (e.g., cryptocurrencies).Types and Examples
Examples include Cryptocurrencies like Bitcoin and Ethereum, and Central Bank Digital Currencies (CBDCs) such as India’s digital Rupee (e₹).Author
