What is a Cryptocurrency and How It Differs from the Conventional Concept of ‘Money’
Virtual currencies are widely defined as a medium of exchange operating similarly to regular currency without having legal tender status. Where a virtual currency can be purchased and sold for legal tender, which would be called a convertible currency, it can be called a cryptocurrency. Cryptocurrency is a form of virtual currency that is decentralized i.e neither backed by central bank nor funded by any government.
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