Virtual Currency
Virtual Currency Currencies that are stored in and transacted through designated software, applications, and networks What is Virtual Currency? Virtual currency is a type of unregulated digital currency . It is not issued or controlled by a central bank. Examples of virtual currencies include Bitcoin, Litecoin, and XRP. Digital currencies are stored in and transacted through designated software, applications, and networks in digital form. Virtual currencies are typically issued by private issuers and used among specific virtual communities. The security of the software and networks that virtual currencies stand on is a critical concern. The traditional regulated currencies are backed by sovereign debts (fiat currency) or hard assets such as gold. In contrast, virtual currencies are not backed with no intrinsic value. The valu...