Virtual Currency (Cryptocurrency) -2021 | Best Guide

Finn Kevin01 Apr, 2022Finance

Currency is money in any form when in use or circulation as a medium of exchange. When a currency is legally recognized by a government to be valid for meeting a financial obligation, it is called legal tender. Coins and banknotes are usually defined as legal tender in most countries. Legal tender is backed by a central government, and the government controls the supply. Virtual currency is not legal tender and it is not backed by a central government or bank. It is decentralized and is global. It is a digital representation of value that functions as a medium of exchange, a unit of account, and a store of value other than a representation of the U.S. dollar or a foreign currency.