What is virtual currency? Who regulates it? Is there any Governing body for it? There are a lot of questions rises when the words like Virtual currency, cryptocurrency, digital currency comes in the scene, to get answers of such question, give this article a read:
Electronic form of unregulated digital money available on virtual platforms and in virtual form only. It can only be accessed through a particularly designed app or website dedicated to that specific virtual currency. Bitcoins & there are amongst the globally acknowledged and accepted Virtual currencies. These currencies are also accepted in exchange for gaming chips like a fun token.
- Virtual currencies are not held under any centralized banking system.
- Virtual currencies are regulated according to the trading market which can lead to a dramatic change in the value of the currency.
- Do not confuse Virtual currency with digital currency, as digital currency is just a virtual form of real money holdings in banks.
Breaking Virtual currency in simple form:
In simple words, the virtual currency can be defined as “an electronic presentation of monetary value, controlled and managed by some private organization and trading market issued by private issuers”.
Virtual currencies are revolutionizing the online gaming world with their services of Digital chips, Virtual tokens, fun token, etc. these services bring transparency amongst the users and the gaming website which is key in return brings trust and fair play. To avail such services of digital chips click on this URL; https://funtoken.io/
Unlike digital currency, virtual currency is not regulated by any centralized banking system instead trading market & private investors and the public’s interest decides which way value’s going to fold. Virtual currencies are subject to market risks like other shares and stocks in the world of the trading industry.