0
It would be nice to future feature the option to easily visualize and differentiate a conventional currency from a digital or virtual currency. Not having the option to easily visualize and differentiate a digital currency from a conventional currency, vendor, customers and end users may not easily visualized the type of funds being transferred and physical presence of liquidity.

Digital currency is a form of currency that is available only in digital or electronic form, and not in physical form. It is also called digital money, electronic money, electronic currency, or cyber cash.

Digital currencies offer numerous advantages. As payments in digital currencies are made directly between the transacting parties without the need of any intermediaries, the transactions are usually instantaneous and low-cost. This fares better compared to traditional payment methods that involve banks or clearing houses. Digital currency-based electronic transactions also bring in the necessary record keeping and transparency in dealings.

Note: Digital currencies involves a bank or a clearing house (person to bank to person), HOWEVER virtual currencies does not involve a bank or a clearing house. (person to person)


References:
1. https://www.bestvpnrating.com/vpn-bitcoin
2. https://bitcoin.org/en/
3. weusecoins.com
4. https://sigtax.com/en/accounting-virtual-currencies
5. https://www.investopedia.com/terms/d/digital-currency.asp
6. https://en.wikipedia.org/wiki/Virtual_currency
Category: General Ledger
STATUS DETAILS
Needs Votes