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<blockquote>Excited to learn about the world of digital currencies? Look no further! Our guide will fill you in on all the important details and explain what you need to know.</blockquote><h3 id="what-is-digital-currency">What is digital currency?</h3>Think about the money in your pocket or purse. Chances are, it’s mostly just a memory. The reality is that most of the world’s money today is digital, with only 8% existing in physical form.In this fast-paced, digital society, trade is global, and money needs to keep up. That’s why it’s becoming more digitized by the day.Digital currency is money that exists electronically, which means you can’t hold it in your hand like traditional banknotes and coins.You need a digital account connected to a payment network to use digital currencies. This is how you can transact and own digital money, as it can only be used digitally. Most electronic money is a digital representation of the physical money we use every day and is usually issued and managed by institutions such as central banks. For electronic forms of fiat currencies like dollars, banks validate transactions by checking that payments are made, and the currency used in the transaction hasn’t been spent elsewhere.<h3 id="strong-why-do-we-need-digital-currencies-strong">Why Do We Need Digital Currencies?</h3>There’s no denying that digital currencies have a lot of benefits! With digital payments, life is easier and cheaper. You can purchase products and services from all over the world with just a few clicks. While workers can send money to their loved ones on the other side of the globe.In the early 90s, many companies tried to improve the digitalization of the monetary system, but it took a while for consumers to catch on to the idea of e-commerce and trust it enough to use it. The digital payments revolution didn’t really take off until PayPal came along, making e-commerce accessible for everyone. And now, we live in a world where anything is possible with just a click of a button!Another advantage of electronic money is that traditional liquidity requirements for banks don’t apply. Banks usually have to have a certain amount of physical money on hand, but there are no restrictions when it comes to digital money. This means that banks can shift billions in transactions and payments without ever handling physical cash.But wait, there’s more! Digital money is efficient, but the latest finance evolution is even better: Cryptocurrency!Want to learn more? Stay tuned for our upcoming article on cryptocurrencies! <h2 id="header-0">About Tradetomato</h2><blockquote>Tradetomato is a next-generation trading platform that allows anyone with an interest in crypto to easily automate their portfolio across wallets, and centralized and decentralized exchanges. Automate your own trading strategies or use the marketplace to instantly deploy algorithms made by our team and the community. Dive into our advanced tools to take full control of your portfolio and optimize your gains! Are you ready to learn how Tradetomato works?</blockquote><h3 id="want-to-join-our-open-alpha-and-become-a-tester">Want to join our open alpha and become a tester?</h3>It’s completely free, and there’s no waiting list!&#x1f48e; Test and tinker with the platform. &#x1f48e; Create your own trading algorithms. &#x1f48e; Backtest your strategies with historical data. &#x1f48e; Use a template from our marketplace. &#x1f48e; Be the first to try new features as we release them. &#x1f48e; Earn custom rewards and badges through active participation.<a href="https://app.tradetomato.com/sign-up" rel="noopener noreferrer nofollow">Sign up</a> today and become an alpha tester! &#x1f345;<a href="https://www.tradetomato.com/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://discord.gg/58tgf8H7H9" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://twitter.com/trade_tomato" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://www.linkedin.com/company/tradetomato" rel="noopener noreferrer nofollow">Linkedin</a> | <a href="https://t.me/tradetomato" rel="noopener noreferrer nofollow">Telegram Ann.</a> | <a href="https://t.me/Tradetomatochat" rel="noopener noreferrer nofollow">Telegram Chat</a>

What are digital currencies?

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