Understanding CBDCs: The Difference From Bitcoin

Video Transcript

What is a CBDC?

CBDCs stand for Central Bank Digital Currencies. 

Think of them as the digital version of the traditional money you use every day, like the dollars, euros, or yen in your wallet. 

The key difference is that CBDCs are issued and regulated by central banks, just like your regular money. 

How are they different from Bitcoin?

Great question! 

Unlike Bitcoin, which is a decentralized cryptocurrency, CBDCs are centralized. 

That means they’re controlled by a country’s central bank. 

They’re also pegged to the value of the country’s regular currency, making them less volatile than some other cryptocurrencies out there.

Now, let’s talk about privacy concerns. 

Since CBDCs are digital, every transaction you make can be tracked and monitored. 

That can raise some eyebrows when it comes to personal privacy. 

Unlike cash, where your purchases remain private, CBDC transactions leave a digital trail. 

So, it’s essential to consider the trade-off between convenience and privacy when using them.

If you’re interested in investing in cryptos or want to learn more, click on the link in my bio or send me a message. 

Don’t forget to like and share this video with your friends if you found it helpful. 

Until next time, stay curious and keep exploring!

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Author: Vincenzo Stefanini
Founder at Osom One Digital Agency. Personal Finance, Investing, Money and Motivation