Digital currency impossible to reverse a transaction, justified or not. It is very similar to cash. Advantages of this system include it being cheaper to operate, and transactions are instantaneous. Western Union, KlickEx and Bitcoin are examples of this type of currency. Soft electronic currencies are the opposite of hard electronic currencies. Payments can be reversed. Usually, when a payment is reversed there is a "clearing time." This can take 72 hours or more. Examples of soft currencies are PayPal and any type of credit card. A hard currency can be "softened" with a third party service. Many existing digital currencies have
Private currency permit the transfer of points or miles. Some startups, such as the Canadian website Points.com, have sought to make loyalty "points" more currency-like by creating an exchange where points from one loyalty program can be traded for points in other such programs. A cryptocurrency is a form of digital or virtual currency where cryptography secures the transactions and controls the creation of additional units of the currency. A cryptocurrency wallet can be used to store the public and private keys which can be used to receive or spend the cryptocurrency. The cryptographic systems used allow for decentralisation; a decentralised cryptocurrency