Currency Talks 101: Cash, Credit and Ethereum Exchange

Money always makes the world go round as the saying goes. Anyone can interpret this infamous saying in various ways.

One can think of the power of money and how it can influence the world. Another might look at it as having money can actually help you change or even control the world to your whim.

These statements have a lot of truth in them. After all, how can you even see the world without money? If you cannot even reach other parts of the Earth, then your influence is not all that effective. Internet has changed that aspect quite a bit, but still has its own limitations.

Money is still needed in order for you to make a move that can possibly change the world.

Barter trade – Exchange of goods and services

If you think about it, it must have been difficult to make transactions without money. It was possible in the ancient world, as people exchanged goods and services with each other.

It was the height of barter trade, and it was the last time people employed that kind of transaction. It still exists in the modern period in websites and social media, but not as prevalent as it was before.

Exchanging goods and services is not an exact in its value, as there are items that might be more expensive than the other. You could have made a bad bargain depending on the transaction that you were doing. This is why money, specifically currency, was used in order to compensate for that shortcoming of the barter trade. Click here to read more about the history of currency

Trans-border transactions

When we think about currency, the first thing that comes in our minds is the actual money that you may have in your pocket right now. Paper bills and coins are the norm, and everybody has them from any age or position in the social hierarchy.

They are easy to carry, and you can use them in most transactions in this world. However, it can be difficult to use it if the service or good that you want is on the other side of the globe.

You can send money through courier, but it can be very risky. In the past, many couriers were actually caught stealing from the packages they were supposed to deliver. It doesn’t happen all that much anymore as surveillance on couriers has already improved in the past years. On the other hand, there are new ways that are developed to avoid this kind of dilemma.

Credit and debit cards are now the go-to option for many first-world countries in their daily transactions. In just one tap, you can pay for anything that you want. You do not even need to count the change or store lots of coins in your pocket.

You will always receive the exact change while paying for the exact same price. You can even put it on your phone as it makes buying and paying for stuff even easier. You can just store the card in your wallet as well without crowding it with coins and paper bills.

However, using credit and debit cards in online transactions has its risks as well. Once a perpetrator knows your PIN, they can use your card in whatever transaction they want. Read more about this here. Most banks today have a safety option for this kind of break-ins, but there is another currency you can use as well.

The coming of Cryptocurrencies

Ethereum Exchanges

Cryptocurrency has been around for a few years now. It has only gained traction due to the fame of Bitcoin, one of the first cryptocurrencies introduced in the world market.

It acts like any currency in the world, like a dollar or a peso. However, one of its key features is its accessibility: you can access it with any device in the world with an internet connection.

You can even pay for any product or service that you want without going through the hust7les of sending cash or banking with cards.

There are so many types of cryptocurrencies today, like Litecoin and Ethereum. In fact, there are websites that show the trends of a cryptocurrency and the exchange rate in real time. Click here to view it: https://rubix.io/ethereum-exchange/

Conclusion

Have you used cryptocurrencies before now? Let me hear your experience in the comment box below

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Enstine Muki
 

Certified Cryptocurrency Expert, Problogger and Serial Entrepreneur

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