Currency is a unit used to exchange for transferring goods and services. Money acts as a medium of exchange in a trading market. As we live in a 21st century world nowadays, cashes and coins are no longer the only medium that used to exchange goods and services, a new development so called Electronic Currency ( also known as electronic money or electronic cash) which is the money used over internet that allowed a transaction being made through the computer networks, internet, and digital stored value system. Due to this new development, an online purchase is just a few clicks instead of going somewhere else.
There are two examples of electronic currency which are Electronic Funds Transfer (EFT) and Direct Deposit. EFT is a system of transferring money from one bank account to another without any paper money changing hands. Funds are being transferred through an electronic terminal including credit cards and ATM. While, direct deposit is one of the most widely used program of EFT that used to make payroll payments by deposited directly into an employee’s bank account.
The benefits of using e-currency are:
Convenient and flexible
Through payment processor, a payment can be made in 24 hours from anywhere you are and have possibility to connect to internet. Thus, money can be sent and received all over the world. For example, log on to the web, browse thousands of selection and purchase the novel instead of walking into a book store to search and purchase the latest novel.
Low transaction costs
Trading electronic currency allows you to spend less money in fees and enables you to generate more profit.
Low minimum investment
Electronic currency trading does not demand huge amount of money and leave a decision for you whether to increase your investment amount. It creates opportunities to make profit without spending a lot in investment. Since electronic currency is the digital representation of currency and it has been widely used throughout the world and will replace the present monetary systems one day in future.
There are two examples of electronic currency which are Electronic Funds Transfer (EFT) and Direct Deposit. EFT is a system of transferring money from one bank account to another without any paper money changing hands. Funds are being transferred through an electronic terminal including credit cards and ATM. While, direct deposit is one of the most widely used program of EFT that used to make payroll payments by deposited directly into an employee’s bank account.
The benefits of using e-currency are:
Convenient and flexible
Through payment processor, a payment can be made in 24 hours from anywhere you are and have possibility to connect to internet. Thus, money can be sent and received all over the world. For example, log on to the web, browse thousands of selection and purchase the novel instead of walking into a book store to search and purchase the latest novel.
Low transaction costs
Trading electronic currency allows you to spend less money in fees and enables you to generate more profit.
Low minimum investment
Electronic currency trading does not demand huge amount of money and leave a decision for you whether to increase your investment amount. It creates opportunities to make profit without spending a lot in investment. Since electronic currency is the digital representation of currency and it has been widely used throughout the world and will replace the present monetary systems one day in future.
References:
http://www.romow.com/business-blog/benefits-of-e-currency-trading/
http://www.articlesbase.com/international-business-articles/ecurrency-pro-or-contra-732036.html
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