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noun. Virtual money, also known as digital money or electronic money, refers to a form of currency that exists only in electronic form. It is usually stored and transacted electronically, using digital credentials such as tokens or entries in a computerized database. Virtual money serves as a medium of exchange for online transactions, allowing individuals and businesses to make purchases or engage in financial activities over the internet. These digital currencies are typically not issued or regulated by any central authority, such as a government or central bank, and are often decentralized in nature, relying on cryptography for security. Examples of virtual money include cryptocurrencies like Bitcoin, Ethereum, and Ripple. GPT3.5
Word Forms:
- noun.
virtual money (singular),
virtual monies (plural)
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