Digital currencies are far more common than many people realise. Ubiquitous examples of digital currencies can be found in retail, in online games, or on websites that require transactions to be carried out in a private currency. Points in customer loyalty schemes, for example, are a form of digital currency.
Most digital currencies can only be used in the specific communities where they are issued. However, some have become far more widespread and are used as a medium of exchange by multiple communities. Bitcoin, the most well-known and widely used of the digital currencies, is already accepted by thousands of merchants around the world including notably computer giant, Dell Inc. as well as online retailer, Overstock.com. It has even found traction in the investor community.