Imagine, instead of walking into a book store to browse and purchase the latest novel, one may simply log onto the World Wide Web (Web), browse through thousands of abstracts and purchase the novel. Due to the new development of electronic currency, an online purchase is just a few clicks away. Money was originally a physical substance like gold and silver. It could even be alive. Cattle were one of the oldest forms of money.
Electronic currency refers to money or scrip which is exchanged only electronically which involves use of computer networks, the internet and digital stored value systems. One of the most reliable, secure and useful electronic currencies today is Pecunix, others are e-bullion, Liberty Reserve, WebMoney,. Electronic Funds Transfer (EFT) and direct deposit..gif)
Some of the digital currencies are backed by real gold stored in vaults, such trustworthy currencies with proven record of good faith and reliability ensure buying and selling gold with ease because gold doesn't become obsolete with time due to inflation, economy, political events or any social .You can also get profits when gold grows up. The advantages of electronic currency payment system are:1) Confidentiality/Privacy
When an electronic currency amount is sent from a customer to a merchant, there is no way to obtain information about the customer. This is one significant difference between electronic currency and credit card systems.
2) Security
The security of electronic currency is provided by the use of encryption. The utilization of digital signatures in electronic currency provides a secure means of conducting transactions in electronic commerce.
Whereas, the disadvantage is:
1) Fraud
A major disadvantage to electronic currency is fraud. If a consumer somehow misplaces his private key and a perpetrator uses it to withdraw funds, the bank would never know and the consumer would be liable.
On the other hand, Electronic currency trading involves converting base currency to a foreign currency at the market exchange rates through an online brokerage account.
currency trading by this method is wholly electronic, execution speeds are extremely fast, allowing the trader to quickly buy and sell currencies to cut losses and take profits at a moment's notice.
1) Fraud
A major disadvantage to electronic currency is fraud. If a consumer somehow misplaces his private key and a perpetrator uses it to withdraw funds, the bank would never know and the consumer would be liable.
On the other hand, Electronic currency trading involves converting base currency to a foreign currency at the market exchange rates through an online brokerage account.
currency trading by this method is wholly electronic, execution speeds are extremely fast, allowing the trader to quickly buy and sell currencies to cut losses and take profits at a moment's notice.
1 comments:
After read your post, i realized that people who make online payments are invoved E-cuurency..
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