Blog

Digital and virtual money

Modified date: 24/10/2020
Digital and virtual money, profit in the company Zion Finance

The convenience of digital currencies is undeniable. Unlike cash, digital money is always available with a smartphone or computer and internet access. They are more convenient for shopping, storage, and investment. Digital money has appeared recently but has already become very popular.

There is currently no universally accepted definition of digital currencies. These include all currencies that exist in electronic digital form. Digital currencies are intangible. The amount and rules for the use of each such currency are regulated by the organization that issues it. It can be a state central bank, an independent organization, or a payment system.

Many people believe that bank payment cards are digital money, but they are not. Bank cards are a means of quick access to money in a bank account. When paying by card, the required amount of real money is debited from the bank account.

Virtual money is a type of digital money. Private organizations or payment systems create them to make payments on the Internet, in gaming virtual worlds, social networks, etc. Some virtual currencies require full owner verification, while others provide anonymity. One of the types of virtual currencies is cryptocurrencies.

Let's give examples.

The PayPal payment system allows the user to open his account, link a bank card to it, and convert real money into virtual money of the system at a one-to-one rate. They can only be used for payments within the system. PayPal even allows the buyer to refund money in case of fraud. Other similar payment systems work according to this principle: AliPay, Perfectmoney, etc.

Another example of a virtual currency used in a virtual community is the in-game currency. In many computer games, players have the opportunity to improve their character and purchase additional accessories for him for in-game currency. To do this, you need to buy it for real money and only then spend it in the game. The in-game currency rate to the usual money is determined by the game developer. Each game has its own currency, and it is possible to return the money spent only by selling a character or in-game items to another player for real money.

The cryptocurrency rate depends on the demand for it at the moment and not regulated in any way. This causes sharp fluctuations in the rate and prevents the cryptocurrency from becoming a stable payment unit. But it also makes cryptocurrencies very popular with investors and speculators. Operations with cryptocurrency allow investors to increase their capital quickly.

Zion Finance invites everyone to invest in financial markets and cryptocurrencies and get additional income. We have favorable terms of cooperation and high-interest rates.

Trust the professionals.