Q:

What is e-currency?

A:

Quick Answer

E-currency is money designed to pay for goods and services on the Internet. The “e” in e-currency stands for electronic, and the word currency represents a monetary system.

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Full Answer

As technology advances, more people begin to use electronic payment systems via the Internet. Improved security measures also contribute to the rise in the use of e-currency. E-currency allows people to pay bills, transfer money between accounts, and pay for goods such as cars, electronic equipment and clothing. Many investors use e-currency to trade on the Forex markets. Traders use credit cards and other forms of e-currency to deposit funds into their trading accounts.

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