Convertible (or open) virtual currency

Convertible (or open) virtual currency may be either centralized or decentralized. Convertible virtual currency has an equivalent value in real currency and can be exchanged back-and-forth for real currency. Examples include: Bitcoin; e-Gold (defunct); Second Life Linden Dollars; and WebMoney. “Bitcoin” (capitalized) refers to both the open source software used to create the virtual currency and the P2P network formed as a result; “bitcoin” (lowercase) refers to the individual units of the virtual currency.

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See Also

• Virtual Currency
• Artificial Currency Unit
• Bitcoin
• International Currency
• Currency Convertible In Fact
• Functional Currency
• Key Currency
• Hard Currency
• Exotic Currency
• Reserve Currency
• Soft Currency
• Fiduciary Currency

Biography