what is the difference between cryptocurrency and traditional currency?

[Emmanuel1]

Traditional currency includes naira,US dollars,euro and Japanese yen. Central Banks and government are the institutions that issues and regulate fait currencies.

The difference between traditional currency and cryptocurrency, it is base on their operational and accessibility models.

Traditional currency operates in centralized institutions like Banks which are governs by regulations.they are constrained geographically an operational wise.
While cryptocurrency is decentralize system,that operates without banking infrastructure, unlike traditional currency.
Let us discuss and know more about, traditional currency vs cryptocurrency

[Gideon99]

Traditional currency includes naira,US dollars,euro and Japanese yen. Central Banks and government are the institutions that issues and regulate fait currencies.

The difference between traditional currency and cryptocurrency, it is base on their operational and accessibility models.

Traditional currency operates in centralized institutions like Banks which are governs by regulations.they are constrained geographically an operational wise.
While cryptocurrency is decentralize system,that operates without banking infrastructure, unlike traditional currency.
Let us discuss and know more about, traditional currency vs cryptocurrency

Well the difference is just decentralized, cryptocurrency is not tied to any form of central bank or government, but the traditional currency is been regulated by the governments. Cryptocurrency value is determine by the market demands and supply. While traditional currency is upheld by the government and control by central banks. Cryptocurrency are built on Blockchain technology which make it more secured and transparent.

[Charles-Tim]

Central Banks and government are the institutions that issues and regulate fait currencies.

I guess this is typo. It is fiat and not fait

There is nothing much to discuss about than fiat are centralized and controlled by the central bank and the government of the nation that created the fiat.

But one important thing that has not been mentioned is that fiat are controlled by the central authorities in a way that the central authorities are depreciating the price and make those that hold it in long term to lose as a result of inflation which is common in almost all nations. Unlike coin like bitcoin which appreciates in price, value and adoption. But some cryptocurrencies are not worth holding because they are ponzis and some are just shitcoins.

[Cantsay]

Well the difference is just decentralized, cryptocurrency is not tied to any form of central bank or government, but the traditional currency is been regulated by the governments.

Is this really true for all cryptocurrencies? If you're referring to Bitcoin I would have agreed with you but if you look at the crypto space you'll see that there are numerous crypto that has a central body (might not be related to government ) but still serves the same purpose I.e controlling the supply of that coin.

[Mr. Allcrypto]

The difference between them is that Crypto currencies are not centralized to a particular government and can be use international as means of easy, reliable, and fast transactions. While local currencies are controlled by a particular government and can be used in as means of transaction in only that particular country or region...

[EluguHcman]

Simple as that... Traditional currencies are centralized currencies with an authority regulatory commission which every countries do have their own Traditional currencies otherwise known as fiats.

While cryptocurrencies are decentralized digital currencies with no regulator of authorities.

[Charles-Tim]

Simple as that... Traditional currencies are centralized currencies with an authority regulatory commission which every countries do have their own Traditional currencies otherwise known as fiats.

I do not think this is worth saying but let me just say it that there are some countries like El Salvador that do not have their own fiat. But most countries have their own fiat.

While cryptocurrencies are decentralized digital currencies with no regulator of authorities.

Only few cryptocurrencies are decentralized. Bitcoin and the carbon copy litecoin etc are decentralized. But most other coins, like the ones with PoS algorithms and the coins that their developers have influence on the project and projects with premined coins are not that decentralized but somehow centralized.

[Darker45]

The difference between them is that Crypto currencies are not centralized to a particular government and can be use international as means of easy, reliable, and fast transactions. While local currencies are controlled by a particular government and can be used in as means of transaction in only that particular country or region...

It's true, with the development of digital currency technology, at least all transactions that require expensive costs have been reduced to become cheaper and faster, cryptocurrency makes it easy for everyone in various countries to carry out transactions.

[Agbe]

We have discussed this in different forms in other forums. In a very simple way to explain it. Traditional currency is also known as fiat currency which is used by the people in that country and not for another country. But it can only be use in the international exchange market. And also it is use to buy goods and services in the physical world with hardcopy of the paper currency or others. But cryptocurrency is a digital currency in which it is only used in the internet and not with hardcopy. There is no print out of cryptocurrency. And finally cryptocurrency is volatile, not stable while traditional currency is stables with no value.

[Cryptsafe]

I think I should just say it in this simple way; traditional currency is the fiat or money in the paper form which we use to buy things in our various countries. It is more or less a legal tender in our locality and approved by our government institution assigned for such task to allow her citizens a means of exchange for goods and services. You can not move or travel with it from one place to another when it is in big volume for security and safety reasons. 

Whereas, cryptocurrency is a digital currency which can be used for exchange of goods and services as per vendors payment terms. Cryptocurrency is mobile i.e you can carry it to anywhere in the world without anybody knowing you have such on you. Safety is guaranteed as you alone have such knowledge of what you have on you and from anywhere in the world you can make transfer and payment without passing through any process just like the banks and co.

[Charles-Tim]

Whereas, cryptocurrency is a digital currency which can be used for exchange of goods and services as per vendors payment terms.

Fiat can also be a digital currency. Even fiat has been existing electronically before the invention of bitcoin in 2009. When defining cryptocurrencies, two things are important. The first is blockchain as cryptocurrencies are making use of blockchain technology. The second is decentralization. Although, many coins and tokens are centralized, but not centralized like how fiat are made by central authorities.

[Cryptsafe]

Whereas, cryptocurrency is a digital currency which can be used for exchange of goods and services as per vendors payment terms.

Fiat can also be a digital currency. Even fiat has been existing electronically before the invention of bitcoin in 2009. When defining cryptocurrencies, two things are important. The first is blockchain as cryptocurrencies are making use of blockchain technology. The second is decentralization. Although, many coins and tokens are centralized, but not centralized like how fiat are made by central authorities.

I understand your point. Fait has long been existing as a digital currency because it can be transferred electronically to various accounts as per transfer command. 

My own point of explanation was just to get OP understand the difference between both as that is paper currency while Crypto is digital and can not be withdrawn like fiat.  You can move about with fiat in paper form but can not do that with digital currencies. Although you can move about with digital but you can not hold it as cash at hand just like the fiat currency.