Virtual Currency and Its Importance in Today's Digitized Society

Abstract

As a result of the globalization process, online trading is becoming increasingly popular. An important
phenomenon of the present day has therefore become a virtual currency as a possible means of payment or the
underlying instrument of online trading. For this reason, the issue of virtual currency has become the subject of our
research. The virtual currency can be considered as a perspective tool of the modern economic practice. Virtual
currency serves for prompt, simple and safe payment for goods, products and services to the subject that accepts the
virtual currency. The aim of the submitted contribution is to clarify the essence, importance, role, valuation of the
virtual currency in the present digitized society with the discovery and subsequent presentation of potential benefits,
respectively. Disadvantages of using this virtual payment. Our intention is to bring a comprehensive view of this issue
not only from the accounting point of view, but also from the auditor's point of view, thus reducing the entropy and
fear of interest groups from the innovations of contemporary modern virtual economic practice.