What is Virtual Money?

[dedens212]

to my knowledge Virtual Money is money used to redeem / replace an item online. To have virtual money a person must have a virtual account that functions as a normal account if we save in a local bank.

[kioicoin]

About virtual currency, there are 03 different understandings:

    Money is unmanageable, no physical shape and is used in electronic environments, it is called virtual money.
    The type is not real value, not guaranteed by cash, gold, and valuable assets.
    The money is usually used to pay for games in electronic games, each type of game has a different currency and they can not be used to exchange for each other or to bring out the electronic environment to buy. Other service products are.

The concept of virtual money is born, widely used and most often by the third interpretation itself. With this kind of money, the balance can be managed and easily changed by the issuer without affecting the financial or market economy.

Virtual money from the word itself these are moneys that can only be seen inside your cellphone or computer. You cannot hold it physically because as i say it is only store inside your virtual wallet.But the advantage of it is you can use it to buy or to pay for your bills like a ussual money.

Virtual currency refers to non-real currency. Bitcoin is now a hubbub of speculation. Bitcoin has been accepted by some online merchants and traditional retailers. Due to the hot bitcoin, virtual currency is gradually becoming a hot topic.

[Fire316]

    Virtual money is a type of digital currency or digital representation of value,which changeable but untoucheable. It is different in regular money,because virtual money is not issued by a central bank or other banking authority.

[naidray]

Fundamentally no currency in this world as its intrinsic value as only government are providing some value to their currency. So, the do not need to confuse about virtual money based on how the currency is getting its value.

I mean to say it virtual money can be defined a money which is not having any physical form but having all the properties of traditional money. A virtual money can be an electronic money and it must be having all the buying power of what is a physical money is having.

This definition may differ for persons. But, a virtual money must be used to for all the purposes what a traditional money is meant for. Otherwise there will be no point of calling it a money.

[ThunderCatSteve]

Virtual money is money that can not be touched but only be seen virtually.

[spiritguardcharles]

We could say that virtual money is a digital representation of money and currency used as a medium of exchange in virtual worlds such as gaming and etc.Moreover,it's an intagible material and it's somehow related to crypto since it's unregulated and usually controlled by the developers who made for a specific virtual users.Also,Virtual money has many variation depending on the company or developers who invented it since it's also a marketing strategy for those company in order for them to earned extra income by selling online products and services.

[isomoyes]

When someone say virtual we thought this is only available in online. This is really surprise that we have a virtual money which is valuable and make more from this. Biggest opportunity is that we can use use it whole world except some country. I hope one day all country will be permit this currency one day.virtual mean that don't need to put money on your pocket or parts. Wherever you are use it from online.

[buhuchain]

Virtual currency is used as a token of the digital transaction medium, which is actually equivalent to the value of real money, but different from the real-money currency.

[ShiroThe5th]

Yes virtual money is true that it is not manageable and a non-currency. virtual money or also know as cryptocurrency is different from the money that we holding. the advantages of cryptocurrency is you can earn and gain it easily rather that the real money. cryptocurrency is not really different from credit card.

[Rafiqul]

Virtual money is a digital currency which based on blockchain system. It is different from other currency, not visible but has value. Virtual currency is very good for transactions in the electronic field. It takes short time, low fee and very safe.

[ufalo3]

True, I think the creation of virtual currency is very good in the process of payment in the electronic field, it is very helpful because the ways and processes to conduct transactions that can be done easily and quickly, the virtual currency is very helpful.

Virtual currency (and Bitcoin was a pioneer) is the coolest stuff to make fast and very safe anonymous transactions. This video is not the new one, but it will give you answer on this question: https://www.youtube.com/watch?v=SmExLsqQYEw

[wladsem555]

Virtual money - such as bitkoyn, have a strong impact on business and many areas of life, primarily by creating a new type of investment in various fields of science and technology. They contribute to the creation of new projects, the implementation of various platforms ...
Of course, their direct influence on different currencies is also traced ...

[Jet Cash]

I read the whole of this thread, and I am amazed that only one post came close to pointing out that fiat bank deposits are virtual money, They have no asset backing, and pretty worthless guarantees. They only exist because people are prepared to accept ledger transfers in exchange for goods.

[Ruthless67]

Virtual money goes on as internet money, but I do not know much about what it is, but I think we can use it when we use the internet, that is.

[pombur]

Virtual money is as precious as real ones, located, say, in Bank accounts or in the wallet of the buyer. This kind of money has a distinct advantage, as it enables to have a number of functions, not applicable to ' real money. Electronic money created in such a way that they are, in fact, counterfeiting is not possible, since they have encrypted digital format.

[Daboy_Lyle]

Virtual Currency, also known as virtual money, is a type of unregulated, digital money, which is issued and usually controlled by its developers (Bitcoin is an exception), and used and accepted among the members of a specific virtual community. Dollars are physical moner or paper money.

[buhuchain]

Virtual currency is a digital currency that can be used as a medium for digital transactions, just as in reality money is exchanged for material equivalence.

[xapwxrm5742]

Virtual currency is a digital currency that can be used as a medium for digital transactions, just as in reality money is exchanged for material equivalence.

Virtual currencies generally include game currency and digital currency. Q coins, bitcoin, Ruitai coins, Litecoin, dog coins, vitality coins, ether, Ruibo currency are virtual currency.

[dedens212]

in my opinion that Virtual Money is the money that we used to redeem / replace a certain item or property with a certain value online. To have virtual money a person must have a virtual account that functions as a normal account if we save in a local bank.

[tanjiran]

This is the definition of cryptocurrency I quoted from oxford dictionary

cryptocurrencies: A digital currency in which the transfer of funds, the operating independently of a central bank.

The concept of cryptocurrency is essentially on encryption and decentralized techniques. In its development, this concept is growing with additional facilities in the form of ease of transactions and effectiveness as a digital asset.