What is Virtual Money?

[9jaflick]

Virtual money is a digital representation of value that is issued and controlled by its developers, and used and accepted among the members of a specific (virtual) community. Unlike regular money, it is relying on a system of trust and not issued by a central bank or other banking authority.
 example virtual money is bitcoin

[kshmrcrs]

They can be used as a form of payment if another person is willing to accept them, they are not legal tender. The value of virtual currency can fluctuate significantly, they may not be accepted in many places and they are not guaranteed by any bank or government. Virtual currencies are kept in a digital wallet and the exchange platforms on which you buy and sell virtual currencies are generally not regulated, which means that if the platform fails or is hacked, you are not protected and have no statutory recourse.

[tianok21]

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.

Yeah! all your though is correct that virtual money are used in different ways in digital concept including the mode of payment in digital transaction. Nowadays virtual money have a big role in digital world because transaction using it in digital community is making faster and easy. Also most of people now are using internet and almost of them transaction are made in digital or in online. Through virtual money the transaction made through online is easy and the payment is fast and no hazel.

As a whole, the concept of virtual money is giving guarantee the people in fastest and easy way of access and transaction  in online or digital world.

[Potter214]

Virtual currency is a type digital money, which is usually controlled by programmer. This currency is used by some organization or community in the virtual world. This is also used in business,buy products & booking. It is also free from government taxes.

[Rulelies]

Virtual monies are crypto currencies. They are digital monies only used in the digital environment. They have value more often than not as the values of these cryptocurrencies are given in dollar. It increases in circulation when they are mined. It's price is usually affected by demand and supply

[DoublerHunter]

Virtual money is a form of money but it is just digital so it means that you need to access it through the internet and in that way you can use or get some of it. Virtual money is one of the new type of technology that we are dealing with and that is the cryptocurrencies that the people are buying and holding because just like them, i believed in this technology.

[sumonrud]

Virtual currencies are online currency or digital currency and decentralized currency, such as BTC and LTC, ETH.and it is created by the electronic system  that is the arithmetic system. which is transaction by the online.it is Mainly used for internet financial.and it is used blockchain technology p2p.

[Sudhik]

Based on the name ''Virtual'' that's mean doesn't have physical, this same with our currency in real life but virtual currency doesn't have any attributes. This currency based on Blockchain technology, you can use this for your payment menthod that's seem like buy online item, money tranfers and etc.

[kidd07]

As name implies, virtual or a digital money which is not existed in actual or in physical form and it is controlled/regulated by developers and programmers.

[jassanpary]

Virtual currencies are online currency or digital currency and decentralized currency, such as BTC and LTC, ETH.and it is created by the electronic system  that is the arithmetic system. which is transaction by the online.it is Mainly used for internet financial.and it is used blockchain technology p2p.

Virtual Money is nothing but a digital portrayal of value that is managed by the developers and used by distinct territory. Virtual Money is an example of digital currency; virtual money is produced by mining, blockchain.

[eifer0910]

Virtual Money is the one we encountering right now. It is not seen because it uses electonics and devices for us to monitor are holdings. You need alway store your password on a safest place so noone will stole your money.

[specsmuluk]

virtual currency is a currency that does not have physical as well as not visible shape. but many people are interested because this currency has more value as seen this currency is very practical and also has a high price ...

[rontme]

Virtual currency refers to the Internet above a kind of virtual money out. Unlike virtual checks and wire transfers, the value of virtual currency can not be realized through bank transfer. Currently, it can only circulate in the online world. The virtual currency is released by various network agencies and does not form a uniform standard for distribution and management.

[Jannalsieh]

Virtual money is like any other money in paper form, or even a token in arcade games, only that virtual is in digital form. Similar to your debit cards, but different in many ways.
One of the advantages of digital currency is it is more convenient and transactions are fast. Like you can send many hundreds of thousands of dollars to other parts of the world in just a click!

[feny.blackpink]

Virtual money is your money in a digital form.
It is a digital asset for me. very convenience

[Potter214]

Virtual money is a kind of currency which you can buy anything in virtual world. Compared to our regular money this currency can buy through different country. Also government can claim tax on it.

[White32]

Virtual money is a type of digital money unregulated, it is also representation the value issued and control by its developers. It is accepted among the members of specific community. The european bank defined that virtual money is a digital.

[Nexjr14]

The virtual currency is the currency used in online transactions. True, that the virtual currency can not be affected. I am one of the users of virtual currency, because I like instant and fast things in a transaction. So, I use virtual money.

[Bitcoinislifer09]

Virtual money is almost the same as ordinary paper dollars. But they are in digital form. So much more convenient, because you do not have to wear large sums with you.

Virtual money is a value that is issued and controlled by its developers, and used and accepted among the members of a specific community.Type of unregulated, digital money.The european bank defined that virtual money is a digital.Virtual money is very modern now,I think it's because of the cryptocurrency in all over the world.You can have your fast transactions using this virtual money.

[antchains]

The virtual currency is the currency used in online transactions. True, that the virtual currency can not be affected. I am one of the users of virtual currency, because I like instant and fast things in a transaction. So, I use virtual money.

Fictitious currency transactions are conveniently located in the real currency, and their operation is convenient and does not require too much verification. Taking into account the exchange rate problem can leave us with unnecessary troubles.