Internet based non - physical currency

Digital or digital currency differs from physical (such as notes and currencies) that exhibit characteristics similar to physical currencies, but allows instant transactions and unlimited transfers. Both the virtual currency and the encrypted currency are a type of digital currency, but the reverse is not true. Like conventional funds, these currencies can be used to purchase goods and material services, but can also be limited to specific communities, for example for use within an online game or social network.
A digital currency can be defined as a form of currency or exchange medium that differs from physical (such as paper and coins) that exhibit characteristics similar to physical currencies, but allows instant transactions and unlimited transfers. Both virtual currencies and encrypted currency (encrypted) are types of digital currencies