Money has been and remains a fundamental component of financial relationships. In the course of their evolution, they have undergone many changes, and until recently, a global standard for their material embodiment (paper bills and metal coins of different denominations) was formed, which is still in demand.
Fiduciary currencies have faced new challenges with the development of information and computing technologies. A new phenomenon called electronic currencies has brought modern financial standards to a new level of development, and the emergence and development of cryptocurrencies promises incredible prospects for humanity in the field of finance.
It is not surprising that users are increasingly asking questions about what opportunities electronic money has, how much they can be trusted, what are their advantages over conventional currencies? Despite the pessimism of skeptics, digital money is becoming more commonplace, replacing traditional paper bills. I wonder if these two types of funds intended for mutual settlements will be able to create a beneficial symbiosis and will peacefully coexist or the struggle between them will become more acute and end with the "defeat" of one of the warring parties?
Technological progress not only made peoples life more comfortable and easier, but also significantly accelerated the processes taking place around a person. It has come to pass what science fiction writers once wrote about in their works. Now, anywhere in the world, you can exchange instant messages with friends, send them photos of beautiful views, and even communicate via video communication. Various financial transactions have also become much easier and more accessible. The possibilities of electronic money have greatly simplified a number of such everyday issues as buying goods and paying for services, organizing leisure activities, and earning a livelihood.
Electronic money can be both the currencies of various states that are familiar to us (dollars, euros, pounds sterling), and the increasingly popular cryptocurrencies. The most common among them today are Bitcoins, Litecoins, Pircoins and their other analogues, of which there are already hundreds of types.
For the circulation of electronic money, various payment systems have been created, which are constantly being modernized, providing their users with an ever wider range of services and opportunities.
Lets figure out what features of electronic money provide them with an indisputable advantage over paper bills.
The main advantage of electronic money is virtuality. They cannot be touched, they cannot fall out of the pocket. But despite this, such money can be used to pay for goods in online stores, buy tickets for a bus or concert of your favorite band, pay for utilities or any other services, buy food, clothes or a car.
The second undoubted advantage is the authenticity of such money. The owner of electronic money will not suffer from counterfeit banknotes or torn banknotes.
Instant translation. The speed of making an electronic money transfer is much higher than the efficiency of operations with paper money. A person does not need to stand in line, wait for the cashier to count the bills and give out the change. The possibilities of electronic money allow you to make a payment or money transfer by pressing a few buttons on a computer or mobile device. At a time when thousands of people are running around the shops in search of the right goods or idle in savings banks for payments of benefits, Internet users solve similar issues in a matter of minutes.
Reliability. Electronic money is reliably protected not only from counterfeiting by counterfeiters, but also from pickpockets. Virtual wallets have several levels of protection, so unauthorized access to them by unauthorized people is impossible. You do not need collectors or special equipment to move electronic money. In addition, such movements do not require the development of routes and the involvement of guards, but are carried out instantly by pressing a few buttons. Understanding what opportunities electronic money has, explains its low cost and high reliability.
Informativeness. On the servers of payment systems, information about all transactions carried out through the electronic wallet remains. This allows you to restore the chronology of transactions for any period of time, which is not available for settlements with paper money. Some services provide their users with the opportunity to use reports, in which all expenses are structured in accordance with the purpose of payments, which allows you to analyze income and expenses and adjust the budget.
Ease of handling. The virtual wallet is very easy to fund. There are various ways to do this:
- Transfer from another account (wallet).
- Top-up via terminal or ATM
- Replenishment from a bank card.
Versatility. The possibilities of electronic money allow them to pay by them in any country of the world, as they are instantly converted into various currencies. If necessary, it is very easy to convert electronic money into the usual paper notes.
Additional income. Given the high unemployment rate, teleworking has become a real lifesaver for millions of people. If earlier it was economically inexpedient to look for work in another city or abroad, today the employer and his employees may be in different countries, which will not interfere with their fruitful work. The opportunity to receive income in the form of electronic money opened up new areas of human activity and led to the emergence of new professions.
Lack of territorial and time restrictions.
In terms of its convenience, electronic money can be compared to a mobile phone. If earlier the owners of landline telephones were severely limited in their capabilities, then with the advent of cellular communications it has become much more operational and efficient. In addition, the owners of mobile phones, along with communication services, received a wide range of additional services.
Mans fear of everything new and unknown is quite understandable. However, if it were not for the daredevils, whose curiosity got the better of fears, humanity would never have known about steam engines, electricity and airplanes. What was terrible yesterday has become commonplace and inevitable today. Therefore, you should not be afraid of electronic money, as it opens up new opportunities and stages of human development.