Prospects and Problems of Digital Currency

Digital currency is money managed, stored, and exchanged through digital devices such as computers and smartphones. There are two types of electronic currency:Virtual and cryptocurrencies that have no physical form and exist only digitally. Digital currency, also known as digital money or cyber cash, can be used to purchase goods and services, but may be restricted to certain online communities such as games or social networks. The data required for the study were collected using secondary data collection methods. This paper explores the importance of digital currency in India and the modern world.