Why Use Online Currency?By Priya of Cashvally.com
Why Use Online Currency?
What are the benefits? by Simon Minister, DXTrainers Online Currency is an electronic, world wide form of currency which has been created purposely for use
on the Internet. There are online payment systems that combine money, gold or other precious
metals with Internet based technology to provide a safe and easy way for anyone to transact
business 24 hours a day. Online Currency also links together financial institutions and markets
across the globe in a way that allows instantaneous value transfers with a mere fraction of the
cost associated with traditional bank wires and credit cards.
Architects of the new digital
economy such as DXInOne, are busily at work creating new financial products and linking online
currencies to "old-world" financial networks, allowing you to easily convert your online currencies
to cash anywhere in the world. Here are some of the reasons that Online Currencies are the best
way to do business on or off the Net.
Online Currencies are CHEAPER!
Transaction costs using credit cards or PayPal range from 2.5% to 4.5%. International bank wires cost, on average, $40 to
$70 using Western Union. Online Currencies allow transactions to take place from as low as 0.1%,
to 2% on the very high end. In other words, the cheapest online currency on the net allows online
transactions for forty-five times less than credit cards. Even the most expensive online currency
costs less than a credit card transaction! Online Currencies lower transaction costs by three
orders of magnitude!
This means that transactions that were previously too expensive to make
because of the time, money, and effort involved are now feasible by using online currencies such
as, E-Gold, IntGold, E-Bullion, NetPay and Pecunix. For retail merchants who process a high volume
of credit card transactions the savings can be significant! The savings in transaction costs can
then be passed along to their customers in the form of lower prices, which helps merchants
accepting online currencies to gain a competitive advantage.
Online Currencies are FASTER!
The average credit card transaction can be reversed for three to six months after the sale took place.
This leaves merchants in a vulnerable position. Cheapskates reverse the charges on a regular basis
against merchants who delivered the goods. This kind of theft drives up prices for everyone to
cover the cost of lost goods and money due to fraudulent credit card use. Bank wires in-country
take at least three days to clear. International bank wires can take up to two weeks to clear!
Online currencies solve these problems by allowing instantaneous and non-reversible transactions.
For merchants this means that all sales are final. They don't have to worry about having their
account frozen because some hacker used a stolen credit card at their store. This also means that
when you need to send money to a friend or family member anywhere in the world, you can do it in a
few seconds, and they can withdraw it as cash from an ATM machine the very next morning!
Online Currencies are INTERNATIONAL!
PayPal only works in the United States and EU. In order for people outside the US and EU to sell their product or service to the web, they have needed an international
credit card merchant account. The problem is, outside the United States and EU, merchant accounts
can be difficult to obtain. This creates a barrier to entry that makes it harder for international
entrepreneurs to offer their products and services to the world. Online Currencies solve this
problem by allowing instantaneous transfers of money anywhere in the world!
As the network of
exchange agents grows, it is now possible to quickly and easily convert your online currency to
cash in any country in the world. A Standard Reserve "Instant World Account" allows an account
holder to convert their Standard Gold or Standard Dollars into cash at any ATM machine on the
planet! E-Bullion offers an anonymous numbered offshore debit card. This means that no matter
where you are, if you can find an ATM machine, you can convert your online currency into local
currency!
Online Currencies are SAFER!
Credit card fraud is becoming increasingly prevalent as hackers steal card numbers from computer networks, crooks root through your garbage and steal
your identity, and other nefarious thieves devise ways to get your account number. Online
currencies offer a higher level of security than credit cards. Even the lowest level of security
for digital money, an account number and password, is one order of magnitude safer than a credit
card. All a thief needs to steal a credit card is the account number. With online currencies the
merchant never sees your password, so it is impossible for a thief to steal it, unless you give
it to him yourself by letting him access your computer.
Many support digital certificates for
customer identification. These certificates cryptographically verify that you are you. This
prevents thieves from accessing your account. E-Bullion and E-Gold are now offering similar
security measures to their clients. It is also possible to combine digital certificates with an
affordable biometric fingerprint reader to make sure that absolutely no-one has access to your
account but you. This is the highest level of security currently available on the net, but there
are other improvements still to come.
Online Currencies allow PERSON TO PERSON PAYMENTS!
Online currencies allow one thing that credit cards never will: Person to Person Payments. PayPal is
limited to the United States. So what do you do when you want to buy a collector's doll that you
found in an online classified ad, but the owner lives in New Zealand and you live in the US?
Online currencies allow you to send your money to anyone else who has an online currency account.
It only takes a few moments for your friend to open his own account using the Internet, and in
most cases it doesn't cost a penny! Person to Person Payments allow small scale merchants to get
started without the added expense of maintaining a credit card merchant account. This means lower
costs of entry into the marketplace and lower costs of doing business!
Online Currency Recommended by Priya, Click Here Now
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