Cryptocurrencies, especially Bitcoin, are now in the portfolio of institutional investors. While it is predicted that the use of electronic, that is, "non-physical" money in our daily life will increase rapidly, we will explain the terms of virtual money, digital money, electronic money and crypto money, which we are hearing more and more every day, and the differences between them.
These concepts that have not even been completely legalized yet, can be used by different institutions. For example electronic money is expressed as a monetary value issued by an institution for a fund by the European Central Bank. And this Money is used for payment purposes. But against this, we see that the same term is used as an umbrella concept for non-physical Money.
Coins are classified according to availability, issuing institution, form and transfer mechanism.
Physical currencies consist of local currency, cash and commodities. Virtual money is classified as electronic money that is not available by everyone. These coins that can only be used by a group on a closed platform. If it is created outside of the central bank, money can be controlled by the someone that develop this money are called virtual money coin. We see that in the computer games that game currencies in these days. Which gamers use to buy the tools used in the game from each other or from the games, can be good example of virtual money. Game currency can only be used in-game, is issued and controlled by game developers.
Sources:
https://www.usa-cryptocurrency.com/the-future-of-coins-electronic-coins/
