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The encryption and decryption processes depend on a cryptographic key selected by the entities participating in the encryption and decryption process.
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Previously, digital currency users would have to meet in person to trade bitcoin for cash.
Cryptocurrency serves as an all inclusive concept for different digital currency systems. Similarly, bitcoin worth $100 can be exchanged for ethereum A cryptocurrency is a digital currency. Cryptocurrency digital currency fiat money gold. Digital currency is a general, universal term for all forms of intangible monies, while cryptocurrency is a specific type of digital currency whose unique angle and appeal is privacy, decentralization, security and encryption. As per the circular issued in feb 2017 regarding virtual currencies, the virtual currency exchanges that offer conversion from fiat currency to cryptocurrency and vice versa, need to register with the central bank. Previously, digital currency users would have to meet in person to trade bitcoin for cash. It is created using cryptographic algorithms. 11 according to the order for reference the 'bitcoin' virtual currency is used, principally, for payments made between private individuals via the internet and in certain online shops that accept the. Centralized cryptocurrency exchanges are online platforms used to. In other words, cryptography is the art of solving codes and also creating them. The encryption and decryption processes depend on a cryptographic key selected by the entities participating in the encryption and decryption process. That means it converts fiat currency into digital currency and vice a versa.
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Cryptocurrency is a type of digital currency.
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