Electronic Currency
Electronic currency is also known as e-money, electronic cash, digital cash or digital currency. It’s refers to the cash that is exchanged only electronically. Typically, this involves use of computer networks, the internet and digital stored value systems.
Electronic currency means the money that use over the internet. Electronic currency allows its holder to buy the goods and the services that the vastness of the internet offers. Just like in normal everyday monetary currencies, electronic currencies are also varied. Each one of them is backed by an underlying monetary currency or in some cases, even valuable or precious metals.
The examples of electronic currency are Electronic Fund Transfer (EFT) and direct deposit. EFT
refers to the computer-based systems used to perform financial transactions electronically while direct deposit is a banking term used to refer to certain systems used to transfer money. People can use the electronic currency to do their business and earn only few dollars of investment. In fact, some of the experts will suggest the beginners to start with only a few dollars so that they can first learn the ropes of electronic currency.
There are 3 main benefits to use the electronic currency:
1. Electronic currency trading has a low transaction cost.
2. It is different with other businesses that will eat up your profit with a huge amount of fees. It allows people to do business with minimal fees and give them more profit and money.
3. It is convenient and flexible to the persons involved because it does not sleep so night or day, the world is merely at people’s fingertips and electronic currency traders can also conduct business anywhere in the world.
There are few websites examples that can let people to do e-currency trading such as MG E-currency, JT GOLD.com.
References:
http://www.romow.com/business-blog/benefits-of-e-currency-trading/
http://en.wikipedia.org/wiki/Digital_cash
by Koh Suh Tyng
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