Digital currencies are a virtual value or balance kept in an online digital database in the Internet, on a storage server, on an offline computer, or inside a virtual digital wallet, and in some cases stored on a secured digital card or in an online digital wallet. Examples of العملات الرقمية are virtual currencies, e-cash, centralized bank digital currency and central bank digital currency.
There is no physical coin or currency used in this type of economy. The currency is issued electronically and not by a central bank. Since the issuing currencies are digitally stored, it can be changed quickly to meet the changing economic conditions.
Digital money is also referred to as digital cash, digital checks, digital currency, digital assets, digital securities, electronic funds transfer and digital accounts. Digital assets or digital money can be exchanged instantly in the market. Electronic cash or electronic payment systems allow the transfer of digital asset such as digital money. E-cash is a way to make payments and obtain money with the use of internet and an internet-enabled device like a laptop, smart phone, or tablet. Digital securities are any investment that allows the holder to sell or buy a security. Digital securities are usually offered through stocks, mutual funds, ETFs and other mutual fund managed products.
Digital securities are not issued by a central bank but are issued electronically through electronic cash. A digital account is a virtual account that has electronic funds transfers like credit or debit cards. In an e-bank digital account, digital money and digital securities are transferred from one electronic bank account to another. Central bank digital account are designed to process electronic funds transfers and are usually associated with banks and other financial institutions.
The electronic banks have different services and rates. Usually digital banks have features that can be used to make the electronic transfers easier. These features include online banking, debit cards, direct deposit, bill pay, and even savings accounts. To make payments to the digital bank, customers need an internet-capable electronic debit card or bank account. With a debit card, the customer can choose a card provider to which he will be allowed to transfer the amount of money in the form of an electronic transfer.
To make the digital cash secure, it is best to use an online bank to store and transfer the digital money, electronic check, or digital certificates. This can help to protect your money from theft.
