Digital currency (cryptocurrency) refers to currencies that are stored and transferred electronically and their base is zero and one. As the name suggests, digital currency refers to any value that is created on a digital platform. This concept is opposed to physical intermediaries such as bills or coins. Digital currency has the same characteristics as physical currencies, but usually digital currency capital transfer transactions can be done instantly and without borders between people. Virtual currencies and digital currencies are both examples of digital currencies, but not every digital currency is a virtual currency or digital currency. Digital money, like physical money, is used to buy goods and services, but it can be restricted to use in certain groups. For example, you can have a virtual currency for a game or social network. Digital currencies such as Bitcoin and Ethereum are known as “decentralized digital currencies”. That is, there is no center to produce this money.



Digital currency is defined as a monetary unit or means of exchange (separate from physical intermediaries such as bills or coins) based on the Internet, which has the same characteristics as physical money, but allows for instant and borderless capital transfer transactions between people. Virtual money and digital currency are both examples of digital money, but the reverse is not true. In fact, digital money cannot be limited to these two groups.


Buy And Sell

Buying and selling digital currencies or trading is one of the things that can bring profit or loss for users. To buy and sell digital currencies, users must go to online exchanges to be able to use the services of converting digital currencies to other currencies. Or buying and selling digital currencies with cash.


electronic payment

The time of the beginning of electronic payment can be considered 18 AD, that is, when the American Federal Reserve Banks were transferring funds through telegraph. Electronic payment has different forms, which are divided into two main categories:

Wholesale payment systems for wholesale

Payment systems for retail

Such mechanisms also exist online and are applied through checking and controlling the angles of different systems. Innovations in the field of electronic payments (retail) are known as electronic money. These innovations, currently still in development, have the potential to challenge the dominance of cash in retail payments while transforming retail for both consumers and merchants. Make it easier and cheaper for merchants. In this context, it has been claimed that electronic money has introduced a new concept of wallet, introduced a business payment system on the Internet, changed government electronic payment methods, and revolutionized the circulation of value (money). Provides through lines. He created the telephone and the (electronic) telephone.

Features of electronic payment systems

  • Security: Making information safe means preventing the distortion and access of information by unauthorized people
  • Scalability: Most merchants only accept credit cards for a minimum and maximum range, so the wider the range of payment acceptance, the more likely it is to be accepted.
  • Auditability: The system should record all financial operations so that possible errors and bugs can be traced if necessary.
  • Reliability: The system must be robust enough so that users do not suffer losses in the event of a power outage.
  • Anonymity: This is about privacy, which means some buyers want to remain anonymous.
  • Non-repudiation: An Internet payment system must assure and commit to the parties involved that a party cannot deny or illegally evade transactions.

Characteristics of electronic money

The value is stored electronically on the piece or electronic device. Various products are different in terms of technical implementation. In card-based electronic money, a piece of computer hardware that is special and portable, usually a microprocessor, is placed in a plastic card, while in software-based electronic money, it is from a specialized and special software that is installed on a personal computer. Installed, used.


The value in electronic money is transferred electronically in several ways. Some types of electronic money provide the possibility of transferring electronic balances directly from one consumer to another without the involvement of a third party (such as the issuer of electronic money) and what is more common and customary is that the only allowed and possible payments are payments from the consumer. to the merchant as well as the possibility of redeeming the value of e-money for merchants.


Transferability is limited to transactions whose history has been recorded. In most product methods and procedures, some transaction details between the merchant and the consumer are recorded in a central database that can be displayed and presented. In cases where transactions are possible directly between consumers, this information is recorded on the consumer’s personal device and can be displayed and presented through the central device only when the consumer has signed a contract with the electronic money operator (scheme agent).


The number of partners and parties that are effectively and efficiently involved in electronic money transactions is much more than contractual transactions. In general, four categories of people are involved in electronic money transactions: issuer of electronic money value, network operator, seller of special and special hardware and software, transferor and settler of electronic money transactions. The issuer of electronic money is the most important person among them, while the network operator and the seller are the technical service providers, and the institutions of transfer and settlement of electronic money are banks or companies of the nature of banks that provide services that are similar to those provided to others. Cashless payment instruments are also offered.


Technical obstacles and human errors can make it difficult or impossible to execute transactions, while there is no such problem with this volume in paper-based transactions.