Electronic Currency

Electronic currency called as e-currency means money or scrip which is exchanged only electronically. E-currency is also known as electronic money, electronic cash, digital money, digital cash or digital currency. It is used over computer networks, the internet and digital store value systems in the form of secured payments of "cash" that is virtually untraceable to the user. The recipients of the e-currency send the money to their bank account as with depositing "real" cash. For example, Electronic Funds Transfer (EFT) which used to perform financial transactions and direct deposit is used system to transfer money..

There are quite a lot of companies that provide e-currency services in the world. One of the example is Paystone, which is a company that provides micropayments and money transfer solutions. It is an online, real-time payment solution that allows user to send funds to anyone who has an email address, pay for online purchases, cash out to your bank account or ATM card and receive payments for goods and services. Another example is Click and Buy, which is a company that provides payment systems on the internet. It is currently used by Apple iTunes, Skype, msn, T-Online, Electronic Arts, Meetic, Playboy, SanDisk, Yamaha, and others.

Benefits of E-currency trading

1) E-currency trading allows you to do business and earn only few dollars of investment. Experts suggest that beginners should start with only a few dollars so that they can first learn the ropes about electronic currency. It does not demand much and it is up to the trader if he wants to increase his investment. Traders can give many opportunities to profit without spending much on investment.

2) E-currency trading has a low transaction cost. Unlike other businesses that consumes profits with exorbitant fees, it allows people to do business with minimal fees and you more profit and more money. There are few websites examples that can let people to do e-currency tradings such as MG E-currency, JT GOLD.com.

3) E-currency trading is not only profitable, but also versatile and convenient to the people involved. E-currency traders can also conduct business anytime, anywhere, whether at home, work place, parks, shopping malls or virtually anywhere as long as there is an internet connection, they can be done.

4) E-currency can also found used in entertainment sites- on “gambling tables” in internet casinos such as PAF Casino and Internet Casino. E-currency allows people to exchange of money to be conducted in the same way as in real casinos.

However, there are some disadvantages with the use of e-currency trading. The transfer of digital currencies raises local issues such as how to levy taxes or the possible ease of money laundering. There are also have macroeconomic effects such as exchange rate instabilities and shortage of money supplies, there is basically a possibility that digital cash could exceed the real cash available.

Related link:

1. http://www.ecurrencylinks.com/

2. http://en.wikipedia.org/wiki/Electronic_money

3. http://www.romow.com/business-blog/benefits-of-e-currency-trading/

4. http://projects.exeter.ac.uk/RDavies/arian/emoney.html