Q:

What is an electronic currency exchange?

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Quick Answer

An electronic currency exchange allows people to buy and sell currencies that are fully optimized for the Internet. E-currency exchange websites work in the same way as forex websites that allow people to trade the currencies of developed countries.

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Full Answer

Since money transfers occur over the Internet on a daily basis, people discovered a way to buy and sell that money in the form of an e-currency. E-currency consists of PayPal transfers, bitcoins, INT gold, e-gold, e-bullion and several other forms of online money transfers. Traders speculate whether the price of one e-currency rises or falls when they exchange that currency for another form of e-currency.

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