The difference between legal currency and digital currency

1.

1. The concept range is different. bitcoin is a kind of digital currency, and the concept of digital currency covers bitcoin

However, some digital currencies have independent issuers

The biggest difference between bitcoin and other virtual currencies is that the total quantity of bitcoin is very limited and it has a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million

digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy. Bitcoin is a digital currency

digital currency is different from the virtual currency in the virtual world, because it can be used for real goods and services transactions, not limited to online games. The early digital currency (digital gold currency) is a form of electronic currency named after the weight of gold

today's digital currencies, such as bitcoin, lettercoin and ppcoin, are electronic currencies created, issued and circulated by means of check sum cryptography. It is characterized by the use of P2P peer-to-peer network technology to issue, manage and circulate currency. In theory, it avoids bureaucratic examination and approval, so that everyone has the right to issue currency

< H2 > extended data

illegal digital currency

in recent years, "virtual currency" represented by bitcoin, Ethernet currency and Leyte currency has been traded centrally on some Internet platforms. With the help of financial technology, the price of these "currencies" has graally spread to investment, financing and other financial fields, which has aroused wide attention from all walks of life

not long ago, the people's Bank of China and other seven ministries and commissions jointly issued the announcement on preventing the financing risk of token issuance, which clearly regulated the relevant behaviors. Experts pointed out that "virtual currency" is not legal tender (legal currency) issued by monetary authorities, but a specific virtual commodity in essence

therefore, it is undoubtedly a great legal and economic risk to think that "virtual currency" has or will have the nature of legal tender and to carry out speculation, network fund-raising, lending and financing

2. Electronic money refers to the exchange of a certain amount of cash or deposit from the issuer and obtaining data representing the same amount, or the quick payment service launched by the bank and the third party to transfer the balance in the bank through some electronic means, so that transactions can be carried out. Strictly speaking, it is a kind of currency that consumers use the bank's Internet banking service to store value and make quick payment to the issuers of electronic currency, and make consumers trade electronically through media (two-dimensional code or hardware equipment)

digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English. It is an alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy. Digital currency is an unregulated and digital currency, which is usually issued and managed by developers and accepted and used by members of a specific virtual community. The European Banking authority defines virtual currency as a digital representation of value, which is not issued by the central bank or authorities, nor linked with legal currency. However, because it is accepted by the public, it can be used as a means of payment, or it can be transferred, stored or traded in electronic form

response time: August 3, 2020. Please refer to the official website of Ping An Bank for the latest business changes

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3.

1、 Different definitions:

1. Electronic currency:

refers to the currency paid by electronic means

2. Digital currency:

is a virtual currency based on node network and digital encryption algorithm

Electronic currency: Based on computer technology, it can be widely used in the fields of proction, exchange, distribution and consumption. It has many functions such as financial savings, credit and non cash settlement

2. Digital currency:

e to some open algorithms, digital currency has no issuers, so no one or institution can control its issuance; Because the number of algorithm solutions is fixed, the total amount of digital currency is fixed, which fundamentally eliminates the possibility of inflation caused by the overuse of virtual currency; Because the transaction process needs the approval of each node in the network, the transaction process of digital currency is safe enough

Third, the same point:

the circulation mode of e-money and digital money is two-way circulation

extended data

e-money is the virtualization of the value scale of real money and the function of payment means. It is a kind of money without monetary entity. Electronic currency is an invisible currency based on highly developed electronic technology

the value of e-money is transferred from the consumer to the seller through the sales terminal, and then the seller redeems the money. The e-money held by the merchant is sent to the e-money issuer to redeem the money, or to the bank. The bank debits the corresponding amount on its account, and then the bank settles with the issuer through the clearing institution

electronic money can transfer money value directly among the holders. It does not require the intervention of third parties, such as banks. This is also the essential difference between electronic money and traditional cash card and transfer card. p>

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5. The application scope of online token is generally limited to the consumer items of the issuing company, such as q-coin, which can only purchase value-added services (such as red diamond and yellow diamond) and online game consumption (such as flying car and dazzling dance) under Tencent
at present, virtual currency only has the value of speculation and collection, and there are not many real instries that accept virtual currency payment

6. Because digital currency is endowed with value, its value is measured by the value of legal currency. At present, although the exchange supports the withdrawal and exchange of digital currency, there are still limitations. Dabit exchange can be said to have further changed the relationship between digital currency and legal currency in a way, making the exchange between digital currency and legal currency faster and more secure without geographical restrictions.

7. Legal currency transaction can use legal currency, such as RMB and US dollars to buy bitcoin, which is convenient and safe.

8. The traditional cryptocurrency trading platform has only legal currency trading, that is, legal currency to digital currency trading. If you want to buy other digital currencies, you can either increase investment and directly recharge the legal currency for purchase; Or exchange the previous digital currency back to legal currency, and then use this fund to purchase other required digital currencies. This kind of exchange method increases the economic and time cost of investors
with the increase of the types of digital currency and the graal expansion of the scope of application, the traditional legal currency trading has been difficult to meet the investment needs of investors, and more investors began to choose the currency trading as the investment mode. As the name suggests, currency transaction is a kind of transaction that can realize the exchange between digital assets. It allows users to invest in digital currency in a more convenient and economical way without increasing investment
in a sense, currency trading can give full play to capital utility. In image, if the decline of currency a and the rise of currency B can be predicted within a certain period of time, investors can make profits from the decline of currency a and the rise of currency B through a / b transaction, so as to improve the investment income. In addition, if the digital money market falls across the board, investors can also rece losses and ensure asset safety through usdt (digital currency linked to the US dollar) trade to trade
on the other hand, e to regulatory factors, some local governments have explicitly prohibited financial institutions from providing banking services for cryptocurrency business, or prohibited the exchange of digital currency into legal currency in the region. In other words, the digital currency to legal currency transaction will not be smooth in some scenarios, and the currency transaction can be used as an alternative for users to choose
therefore, the transaction volume of currency transaction has exceeded that of legal currency transaction. Of course, whether it's recharge buying currency or currency trading, it's a means of investment; The final return on value should be reflected through the exchange of legal currency. Investors can exchange through the exchange of legal currency or C2C trading
currency transaction can directly realize the exchange between digital assets, which is convenient and fast. The economic cost and time cost are relatively low, and there is no need to increase investment. However, the currency transaction does not support the recharge of legal currency. You need to buy the base currency before you can participate in the transaction, which may be a little difficult for beginners

warm tips: the above information is for reference only and does not constitute any investment proposal. Investors should not use such information to replace their independent judgment or make decisions only based on such information, and does not constitute any trading operation
investors should be fully aware of the investment risks, invest prudently, and on the basis of fully understanding and clearly knowing the risks contained in the procts, decide whether to participate in the transaction through their own judgment, and voluntarily bear the relevant risks
response time: December 11, 2020. Please refer to the official website of Ping An Bank for the latest business changes
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9. As long as the business hall where the bank manages the ATM is open for business, it can handle the card withdrawal business. Please bring your ID card for card collection.