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What is the difference between Bitcoin and Yuan Digital?

  • Thread starter Thread starter Suba
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Josemendez said:
The Chinese digital Yuan is also known as central bank Digital Currency ( CBDC ) . it was a strategy used to counter the effect of cryptocurrency , and also to make their fiat currency transaction faster.
Bitcoin on its own is a cryptocurrency and is not controlled by anyone unlike digital Yuan
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Exactly, this has been the agenda of China 🇨🇳 for a very long time since they saw how bitcoin have arrested the financial markets, so they want to take advantage of it and have their own power over it.
 
Yuan digital cannot be compared with bitcoin. Bitcoin is decentralized money controlled by common people, where as Yuan digital is centralized money controlled by Chinese government.
 
Bitcoin and the digital yuan are very different, yes they may both be cryptocurrencies. But you just said the Chinese government can monitor the use of the coin which is different from bitcoin.
 
I didn't really know that the China digital yuan has cryptocurrency features. The features would make it function similarly to bitcoin. It uses same blockchain technology as bitcoin. That's awesome.
 
The digital yuan is actually not volatile while Bitcoin is more volatile compared to the digital yuan ,I think the digital you is more of a centralised currency while Bitcoin is decentralized
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I think the difference between digital yuan and Bitcoin ,is that the digital yuan coin is actually more stable compared to Bitcoin ,as Bitcoin fluctuates more than expected and you could make more profit if you invest at the right time
 
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The yuan digital is digital currency of china and is the same value of the local currency while bitcoins is a cryptocurrency, bitcoins is a cryptocurrency and the price of bitcoins is dependent on the law of demand and supply.
 
What is the difference between Bitcoin and yuan digital. This question make us to know more about yuan digital. This yuan digital is new to me,I just noticed it must be a Chinese coins.
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What is the difference between Bitcoin and yuan digital. This question make us to know more about yuan digital. This yuan digital is new to me,I just noticed it must be a Chinese coins.
 
Though I am hearing about this for the frist time but form what you have said, one of the major difference is the fact that the government has the power to monitor and regulate the digital yuan, while Bitcoin cannot be regulated.
 
Yuan digital is an electronic version of Chinese currency which can be used to treat things online among the localities why bitcoin is a cryptocurrency with a decentralized system. Cryptocurrency has more acceptance rate online than Juan digital.
 
The biggest difference that distinguishes Digital Yuan from other cryptocurrencies is that it has legal status. The digital Yuan currency can be used as a payment mechanism or positioned as a legal tender. ... Another difference between a standard cryptocurrency and a digital yuan is anonymity.
 
The digital yuan is designed to replace cash in circulation, such as coins and bank notes, not money deposited long-term in bank accounts. Moreso, cryptocurrencies like Bitcoin the digital yuan will not use blockchain, distributed ledger technology which allows transactions to be validated without the need for banks.
 
The Nigerian government has also produce the digital form of the Nigerian currency and that is also what the Chinese yuan is.. bitcoins is a cryptocurrency while the Chinese yuan is a digital currency.
 
Sotherefore said:
The Nigerian government has also produce the digital form of the Nigerian currency and that is also what the Chinese yuan is.. bitcoins is a cryptocurrency while the Chinese yuan is a digital currency.
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The Chinese digital yuan is a bit different from the bitcoin because it is a digital from of the Chinese yuan and does not have the attributes of the bitcoin. Bitcoin is a decentralized platform.
 
There is quite a difference between them depending on how they are built on their own Various systems. Bitcoin is actually a decentralized system and this means that every transaction that is made on the block chain can be verified. The digital yuan on the other hand is being controlled by a central authority.
 
Well ,the Bitcoin crypto currency operates on a decentralized protocol which means it is free from any regulations from the government and any other financial institution, the Yuan has regulations because the government tends to monitor when and where it is used.
 
GIFTMICHAEL said:
Chinese Digital Yuan is simply centralized Currency not even a crypto cos it isn't volatile nor encrypted. So those who are dealing with such coin should know they're simply dealing with centralized coin.
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That is among the things that most government really from the onset wants the citzens in their various countries to be engaged in when it comes to online e-transactions,but they do not know that the fluctuations is what makes cryto unique
 
Before read this topic I don't no any thing about digital yuan currency, and this currency works similar as like bitcoin, I know only they have a paper currency called yuan, I have one dought when China supports digital currency and launched their own digital currency, then why they banned bitcoin in their country.
 
The yuang digital is what I believe to be a digital currency and most likely be a stable coin but bitcoins is a volatile cryptocurrency. Stablecoin meaning that a price will always be the same as the county's currency.
 
I don't really know what's that yuan digital you are taking about, but for Bitcoin it's a digital currency, a lot of people know about Bitcoin even those who are not working online.
 
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