• Digital currencies, which are the electronic equivalents of fiat money, can be used in contactless transactions between parties, such as sending money from one bank account to another. Digital currency is used in all online transactions; once you withdraw money from a bank or an ATM, the digital currency is converted into liquid cash.
• Cryptocurrencies, often known as digital coins, are a type of digital currency that is protected by encryption. These digital currency are entirely privately held and manufactured (using advanced blockchain technology), and most countries have yet to regulate them.
• Although digital currencies no longer require encryption, all users should secure their digital wallets and banking apps with strong passwords and biometric verification whenever possible to reduce the risk of theft and hacking. Debit and credit cards, which are essential for digital currency transactions, are the same.
• Cryptocurrencies are protected by powerful encryption, and in order to trade in crypto, users must have a bank account with funds. This digital currency can then be swapped for cryptocurrency of the same value via an online exchange.

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