Ethereum and Bitcoin are the two basic digital currencies, which don’t have any physical form. These are some memory units in Bytes or Bits. The advantage of these Digital currencies is an easy point to point transfer anywhere throughout the world, as these don’t have different forms as like dollar, pound. If we wish to transfer the currency from India to the USA we need to convert Rupees to Dollars and there will lot more procedures and time-consuming Process.
But by the help of these Digital currencies with in short span of time money can be transferred anywhere in the world in the same form conversion is not required.
But the main drawbacks of these currencies are lack of decentralization or lack of control.
If someone hacks the block chain where the finding of the bytes or bits of memory is being happened, the money will be lost.
The value of these digital currency depends on the demand and availability of Bits or Bytes.
As of today there are mainly two types of Digital Currency are available, one is BITCOIN and Ethereum
Ethereum is the new form of digital currency and is the most circulating currency than BITCOIN and whose value is increasing at a rate more than the BITCOIN.
In some countries like Japan and China, these Digital Currencies are legitimized.