Virtual currency (benchmark set by BITCOIN) called as virtual money. Virtual currency is unregulated, digital money this is a parallel economy of currency.
Virtual currency (Cryptocurrency)
Virtual currency is a cryptocurrency (code based circulation). This currency is issued and controlled by its developers. Such currencies are like Bitcoin, Ripple and Etherioum. These accepted by natural or legal persons. This process of payment can be transferred, stored and trade. VC can be circulated electronically no needs physical.
Today there is a huge list of cryptocurrencies available in market and day by day many more are coming ups through ICO (Initial coin offering). Ideally, if we want to transfer fund to one country to another country we need to exchanges and bank’s support. But in the crypto world if you want to transfer funds to any personal abroad it can we transfer low cost and quickly hassle free.
Crypto is a danger for Share Market as well as physical /tangible currencies (Doller, Euro, Yan etc.) Trading industry. Apart from its beauty here is huge chances of misuse this technology by hawala, militant and black money traders.
Sender just sends his virtual coins unites from his coin address to receiver coin address.
Many start-ups (Storeqa, ATPS, Dorado and JioCoin) these days launching their project using ICO (Initial Coin offering) for fundraising similar to the public issue of share on exchanges.