What’s the difference between money and currency?
Both currency and money is kind of the same thing. However, one is tangible while the other is not.
Money is a medium of exchange use for goods and services. Money is not tangible, You cannot touch money. you cannot smell money, but you can see it in numerical value.
Currency is a medium of exchange use for goods and services. Currency is tangible, you can touch currency, you can smell it, you can see it.
Money and currency is often confused by many people.
That $100 dollar bill that you touch, smell and see with your eyes. That’s actually a currency, a monetary currency of a county, In this case US.
People call it money since it has value, but it’s actually a currency.
Example
If your bank account has $100 on it, then that’s consider money. You can see the numerical value of $100 but you cannot touch it, you cannot smell that $100 dollars. That’s money.
Example
If you withdraw that $100 from the bank. Now you have a $100 dollar bill on your hand that you can touch, smell and see. That’s currency.
Therefore, things like coins, such as gold, silver, notes, etc. Things that are tangible these things are currency. They can be use as a medium of exchange for products and services.
Digital numerical things like saving account, checking account, online credit, online debit, and so on, things that you can see numerically, but can’t tough or can’t smell. Those are money and they can be use as a medium of exchange for products and services.
