The digital world holds great value in today’s time, and people can own virtual assets such as digital goods and currency. Everything you consume online, like music or reading an e-Book, is counted as digital goods, and you can pay for these goods in digital currency. While lots of people prefer traditional currency, several businesses have switched to traditional and digital currency, which is available online and can be accessed via computers or mobile phones.

Types of digital goods
Digital goods are any goods you can sell, deliver, and transfer digitally. There is a difference between digital service and digital goods; service refers to doing something for someone, while goods refer to selling something to someone.

Even though these goods don’t have specific classification, they can be broadly divided into the following types of digital goods:

Textual content
Textual content refers to books, news, articles, and other digital written content. You can avail of these materials in PDF formats. E-books also fall in the same category.
Audio content
When digital audio content is concerned, one typically thinks of music and podcasts first. However, you can also find books in a read-aloud format, which helps you to listen to the books on the go. You can access audio content through iTunes and Spotify.
Video content
Video content refers to any audio-visual content available online. It includes random uploads of dance, music, movies, shows, or clips uploaded by online personalities.
Image content
Templates, logos, and pictures available online can be regarded as digital goods if you consume them for your entertainment. Shutterstock and Canva are some examples of image content distributors.

Characteristics of digital currency
To understand finance in the digital format, you should know the different characteristics of digital currency. Some digital currency characteristics are as follows:

Only digital format
Digital currency only exists in digital forms; they don’t have any physical equivalent. Since it is a digital format, it is easier to access the currency from anywhere using the internet and smart devices.
Forms of digital currency
You will find digital currency in two forms. Centralized currency, also known as Fiat currency, gets regulated and maintained by a central bank and government agencies. Bitcoins, Ethereum, etc., are examples of decentralized digital currency forms.

Types of digital currency
Even though different types of digital currencies exist, only these three matter the most in the electronic realm.

Cryptocurrency
These digital currencies use cryptography to secure and verify various transactions in a network. You can use this method to manage and control the creation of currencies like Bitcoin and Ethereum.
Virtual currency
This currency is unregulated and is also known as virtual digital assets. The developers or a founding organization control these currencies.
Central bank digital currency
Any country’s central bank regulates and issues these currencies. It works as a supplement to the traditional fiat money of the country.

Digital currency uses
The uses of digital currency are similar to the use of fiat money. Digital currency ensures fast transfer and accessibility as there is no need to manufacture it via traditional means. It also ensures that government agencies can transfer payments directly to the citizens. However, many countries are still in the implementation stage since the currency format is rather new.

The importance of digital currencies is evident due to the consumption of online media like music, video, and e-books. However, one must know how to handle and operate these digital forms of goods and currency. Lastly, you should also exercise caution to protect your asset in the virtual realm.