cryptocurrency, virtual currency and digital money

What is the difference between cryptocurrency, virtual currency and digital money?

Bitcoin fever is creating some confusion in the terminology that is used to refer to these currencies. Sometimes this type of currency is called cryptocurrencies, other times virtual currency and sometimes digital money. However, the three terms are not interchangeable.

This can generate quite serious confusions like when a medium assured that the Bank of England was preparing a cryptocurrency, when in reality it is a virtual currency. On other occasions we are not wrong, since Venezuela actually prepares its cryptocurrency. Let’s see the differences. Continue Reading