Digital currency

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Revision as of 05:52, 14 January 2011 by Sgornick (talk | contribs) (→‎See Also: Add money transmitters to See also section.)
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A digital currency, (also known as cryptcurrency, cyber currency, digital cash, digital currency, digital money, e-currency, e-money, electronic cash, electronic currency, electronic money) refers to money or scrip which is only exchanged electronically.

When money transfers occur as a bank wire transfer or ACH payment, or even transfers of money using services such as PayPal, the funds are sent electronically but the currency transmitted is representative money and what transfers is an underlying fiat currency.

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