¶ What is “E-currency” ?
The ” E” of e-currency stands for “electronic” (as in E-Mail) ; meaning its only being used on the internet.
¶ Different Types of E-Currency ?
There are two major types of E-Currency in the world :
- The ones backed by precious metal (gold, silver,…)
- The ones backed by hard currency. (Usually USD , EUR and GBP)
The main difference between these two types is that the E-Currency backed up precious metal will have a fluctuating value based on the metal’s value , whereas the hard currency has more or less the same value all the time.
¶ The Pro’s and Cons of using E-Currency ?
E-currency backed by hard currency (see above) is widely used on the internet as the medium of internet related commercial actions. This provides those users a quick,simple and safe way for shopping instead of showing their credit card information to merchant who they do not know.
This is , however , restricted in some regional area which is defined by the currency they choose to be backed.
The major reason is the floating character of exchange rate between the hard currency and the local currency often used by the internet users. For example, an internet user who lives in Japan may lose money when processing the currency exchange from USD to JPY.
E-Currency backed by precious metals (see above) have to be purchased from exchangers. This basically means you place an order for the E-Currency you like (we will discuss which types you should focus on later) in the currency your nations pays in (e.g. EUR). The order then is paid with a bank wire or a Western Union transfer. Once the exchanger received the funds, your E-Currency account will be funded within 24 hours. This balance will appear most of the time in USD, unless specified otherwise.
The E-Currency account is opened online and can be filled in with either your real information, or totally random information, guaranteeing anonimity. The choice is yours.
¶ The Conclusion ?
I think it’s safe to assume that the use of ecurrency will be the trend in the coming future just like credit card application before. So join the upcoming trend to earn a nice income before all good programs are gone !
