The mean of payment that exists in purely electronic form is called Digital money.Electronic money or digital money is not tangible and is accounted for and the transaction are performed online using computers.Digital money ca be exchanged using credit cards, the internet, and smartphones.It can also be turned into physical money like in the case of an ATM.
Digital money is one innovative technology that moves the transaction from the physical to the digital world. lLike any other technology,,digital money too comes with its own pros and cons, while it can open new opportunuteles for small businesses, the goverment also has to take neccesary care to keep the problems of taxation and money launderaing at bay.
Digital currency is not new. Basically any movement of funds from one party to another electronically, whether it’s to pay for goods or services, is a form of digital currency. This includes everyday transactions like depositing of paycheques, using a credit or debit card online, or using a bank’s online bill payment system.
They’re fast, convenient and have become a permanent fixture in modern life, however, that’s only one side of digital currencies. Part of the digital currency debate arises from some of the newer currency transfer systems or the introduction of crypto-currencies.
The key benefit of digital payments is the ease and the speed of completing the transaction. The users of digital payments enjoy more flexibility in making payments. As all the payments are processed through secured severs, users need not worry about any risk involved. People who do not have credit or debit cards can also use Wallets where they can get their wallets loaded with coins.
The benifits individuals enjoy by going cashless are many. No need to stand in those long queues outside the ATMs, no worry about the cashouts durning holidays, o more waiting for the cheque to get credited and no risk of carrying currency in the wallets. The cashless transaction come with enchanced security procedures called blockchain is a digital ledger in which transactions made in Bitcoinage or another cryptocurrency are recorded chronologically and publicly.
The advantages of digital cash are not limited to an individual. This has a major impact on the economy of the country as the reduction in the use of cash will help reduce the grey economy and also prevents money laundering. This also increases the tax compliance which will at the end benefit the customer in the long run.
The use of digital cash will also make sure that any loopholes in the country's public systems are plugged and the beneficiaries would be able to avail those benefits that are long due to them. While an indidual gets to withness the direct benefits of cashless transactions, there are lot of indirect benefits that have a greater significance. One of the benefits of using electronic cash is the fast pace with which the money gets circulated. As cash is a material, it can be prevented from circulation. For example, a tourist can bring back the cash that was used from the visit in X country and that would lie idle and again can be used till the next trip for other country as a universal currency In more economic terms , it helps to increase the velocity of money by keeping a single currency to circulate.
The use of digital currency has seen an unexpected rise. While people from urban world are facing the cash curbs using digital money the majory of people from rural areas still needs to understand the importance of digital cash. Are we ready for cashless economy? While many do believe that going cashless is still a distant dream for the world, let us try and understand the advantages of Digital money and its scope for the world
In the age of Bitcoin there are numerous amount of coins which gave birth to thousands and thousands of cryptocurrencies in the market making the bitcoin market to trillions of dollars, BitcoinAge simply represents the Age of bitcoin era which has started since the year 2009.
Bitcoinage is a new cryptocurrency which runs on proof of stake giving 25% reward each year. There is a Fixed supply of 6.4 Billion Coins Whereas Bitcoin has 21 Million.Bitcoinage simply is a token for the new era of decentralized cryptocurrency. The Bitcoin which started with almost nothing is now over 6000 usd per coin and it has been growing and getting popular amongst wallstreet and worldwide everyday . We hope and wish bitcoin to prosper each day and bitcoinage bounty shall always be there for the newcomers who wishes to understand the technology behind bitcoin Our giveaways will last till the premine exist.You might not have heard much about cryptocurrencies before Bitcoin hit the scene, but digital currencies have a history dating back to the 1980s. Researcher David Chaum invented many of the first cryptographic protocols that digital currencies would come to be based on.
Bitcoinage has limited supply and it does not need mining. Bitcoinage simply stakes your coins for rewards we have highest proof of stake percentage on it of 25% every year meaning 100 coins would become 125 after a year .
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