Summary: Since 2009, virtual currencies have been based on the “Block chain" technology, making these virtual currencies a reality that raises many controversies about whether or not it is a currency, as well as the challenges it may pose at the local and international levels, creating a space for disagreement. And what may result from the spread of the world and more than it is now, and the study aimed to answer “what the economies of Bitcoin and the mechanism of circulation? What are the most important economic challenges posed by virtual cryptocurrencies, whether they are real or not?" Using the inductive descriptive approach to present the theoretical rooting of virtual currencies, their 2 characteristics and trading mechanism, characterize the developments of the Bitcoin exchange rate as an example and a case study representative of virtual currencies, and the volume of global trade in them from 2009 to 2018, which is based on extrapolating the most important challenges that these virtual currencies may pose. The study concluded that Bitcoin and then virtual currencies are not a currency, as well as the existence of many local and international economic challenges that may be posed by these virtual currencies now and in the future.