What is e-currency?
E-currency is money that is exchanged on computers. “E” is the first letter of the word “electronic” and “currency” is a money system. You can think of e-currency as Internet money.
Buying and selling products and services on the Internet is possible because of e-currency. In the present time, more security on the Internet means more people are now buying and selling online. Modern security means it is now safer to deal on the Internet, but there are still some risks involved.
Credit cards are a popular example of e-currency. E-wallets (online money vendors) is another. Bitcoin may be considered another – virtual physical money.
Benefits of e-currency
With e-currency, banks now offer services where customers can send money from one place to another without using cash. Using e-currency, customers can pay bills, change money from one account to another, and pay for things they want to buy such as food, a car, a television or a service such as Forex Trading, Gambling.
It is now quite easy to exchange money all over the world using e-currency. Modern technology makes money exchange fast and secure.