The development and deployment of e-currencies or what you may call digital currencies have become a novel concept in modern e-commerce that has facilitated the development of businesses across the web making it even more convenient for people to pay for services and make investments without going through the rigors of banking services and their ‘outrageous charges’ and delays.
Today, there are so many businesses that run on e-currency where investors and clients can invest, deposit or withdraw money via the different e-currency platforms available on the web. The e-currencies are mainly used in forex investments, sports betting, HYIP investments, stock trading, options trading, purchase of digital products such as e-books, games, virtual credit cards, music downloads and software.
The interesting feature of e-currencies is that it can be easily exchanged into fiat currency domiciled in USD or EUR. This makes it easier for people who earn digital currencies online to convert their money into cash and use it for several other transactions. The exchange or sale of one e-currency or digital currency to the other are done by exchangers whose business it is to exchange those currencies at an applicable exchange rate and at a certain processing fee which are usually very minimal.
The most popular among the e-currencies is the PM otherwise known as Perfect Money which is used in several transactions across the web. Perfect money came to be the E-currency of choice following the seizure of Libertyreserve by the US authorities which used to command the number 1 position prior to its misfortune where over $50million of investors and clients money were held.
List of e-Currencies used on the Web
Here is a list of most of the e-currencies used on the Internet for various transactions. These list is by no means exhaustive as there continues to emerge newer e-currencies that are been added especially the crypto currencies such as Bitcoin, Feathercoin and Litecoin. The major e-currencies are:–
12. Yandex money
13. Alfa Bank
What are Cryptocurrencies?
Cryptocurrencies are digital currencies that was founded by the Japanese mathematician, Satashi Nakamoto. The currency is generated digitally via electronic means through a process called mining. It is not regulated by any financial institution and is fraud proof because each generated currency has a unique address that cannot be manipulated. The other advantages of cryptocurrencies are that you can literally have millions of dollars or any other currency in cryptal forms domiciled in the currency without even revealing your identity.
Moreover, all the information about crypto currencies are enclosed in a block chain and the Bitcoin protocol is cryptographically structured such that it is transparent and completely neutral. The most popular of the cryptocurrencies is Bitcoin which has seen its share value rising in major US stock exchanges with investors confident of the future of digital currency transactions led by Bitcoin.
Types of Cryptocurrencies
These are the major cryptocurrencies used across the internet for business transactions all encrypted in a secure platform and generated by a digital procedure called currency mining
There are several e-currecy exchanges on the web where you can easily exchange one e-currency to the other a nd even sell or buy any of the e-currencies. Here is a list of some of the exchangers:–