Decentralized Virtual Currency Is Internet Money

Use Digital Money To Shop, Invest And Make Payments At Bitcoin Accepted Merchant Stores

Digital money, digital currency, virtual currency, internet money and crypto currency are synonymous terms.

Litecoin Dogecoin Dashcoin Darkcoin Primecoin

These are five most widely accepted and important virtual currencies other than bitcoin.

Digital money is a peer-to-peer based system of digital money transactions. Digital money is internet money because it is electronically created, stored and used over the internet. It is 'decentralized' because there is no central or trusted authority that controls and stores digital money. It is an internet-based form of currency used and stored electronically in an internet-based wallet which has a unique numerical and alphabetical digital code.

You can store digital money on your desktop wallet, but you can't store it at the bank.

Each type of coin requires a separate wallet address. For example, you cannot collect dogecoin to a bitcoin wallet address. You need to generate a dogecoin wallet address to store dogecoin.

Convert digital money to cash at a crypto currency exchange site, and deposit the cash to your bank account using bank wire transfer and payment processors.