Central Bank Digital Currency vs Cryptocurrency, Difference Between Them

Central Bank Digital Currency vs Cryptocurrency You are here to know Difference Between CBDC Vs Crypto and How To Invest, Question raised where to buy Central Bank Digital Currency,

Difference Between CBDC Digital Currency Vs Cryptocurrency: Central Government may soon ban cryptocurrency in India and wants to starts its own digital currency popularly known as Central Bank Digital Currency. So if you don’t know the difference between Digital Currency and Cryptocurrency then here we will give you important update on this.

CBDC full form is central bank digital currency and only central bank of the country have right to make and regulate CBDC Digital Currency.

Country Wise Central Bank Digital Currency List: Tanzania, India, China, Egypt, Hongkong, Taiwan, Japan, Australia, New Zealand, South Korea Thailand, Denmark, France, Sweden, Italy, Estonia, Finland, Iceland, Lithuania are some European and Asian countries. Any country who release digital currency, they required to add these digital coin in their balance sheet. Currency 81 country has set up team of Central Bank Digital Currency. 

Main benefit of this Central Bank Digital Currency is it can be change in sovereign currency or in real money.

There are two types of digital currency 1 is retail currency and second one is wholesale digital currency.

Retail currency can be used by common people of any country and wholesale currency used by large financial sector.

One should prefer digital currency instead of cryptocurrency because their is less loss in this currency and it is approved by central government.

How to use CBDC CURRENCY: if you have buy digital currency tha. You can use it anywhere in bank, purchasing goods.

Difference between CBDC Currency and Cryptocurrency like Bitcoin, Etherium, Dogecoin.

Digital currency released by central bank and cryptocurrency are make under mining process.

Digital currency approved central government and cryptocurrency is not under government control.

Value of digital currency can be controlled by govt and cryptocurrency value jump high and frequently goes down.

You can convert your digital currency into real money any time from any banks but cryptocurrency currency requires special shop.

You need wallet for cryptocurrency currency but you don’t need wallet in CBDC.