What is virtual currency?

Virtual currency, or virtual money, is a digital currency that is stored and transacted via certain software, mobile, or computer apps. Such representation of value that is neither issued by a central bank or a public authority, nor attached to a fiat currency.

Bitcoin, Ethereum, Litecoin, and XRP are examples of virtual currencies.  

Advantages 

• Convenience
• Decentralization
• Speed
• Transparency
• Low Risk Factor

Disadvantages 

• Legal Consequences
• Irreversibility 
• Unpredictability
• Losing Keys 
• Possibility of illicit activity funding