Dynamic-Xchange | DXSynergy Articles - Why Use ECurrency? Part 1
| Why Use e-Currency? - Part 1 |
What are the benefits?
by Simon Minister
E-Currency is an electronic, world wide form of currency which has been created purposely for use on the Internet.
There are online payment systems that combine money, gold or other precious metals with Internet based technology to provide a safe and easy way for anyone to transact business 24 hours a day.
E-Currency also links together financial institutions and markets across the globe in a way that allows instantaneous value transfers with a mere fraction of the cost associated with traditional bank wires and credit cards.
Architects of the new digital economy such as DXSynergy, are busily at work creating new financial products and linking e-Currencies to "old-world" financial networks, allowing you to easily convert your e-Currencies to cash anywhere in the world.
Here are some of the reasons that e-Currencies are the best way to do business on or off the Net.
| e-Currencies are CHEAPER! |
Transaction costs using credit cards or PayPal range from 2.5% to 4.5%. International bank wires cost, on average, $40 to $70 using Western Union. E-Currencies allow transactions to take place from as low as 0.1%, to 2% on the very high end. In other words, the cheapest e-Currency on the net allows online transactions for forty-five times less than credit cards. Even the most expensive e-Currency costs less than a credit card transaction!
E-Currencies lower transaction costs by three orders of magnitude! This means that transactions that were previously too expensive to make because of the time, money, and effort involved are now feasible by using e-Currencies such as, E-Gold, IntGold, E-Bullion, NetPay and Pecunix.
For retail merchants who process a high volume of credit card transactions the savings can be significant! The savings in transaction costs can then be passed along to their customers in the form of lower prices, which helps merchants accepting e-Currencies to gain a competitive advantage.
The average credit card transaction can be reversed for three to six months after the sale took place. This leaves merchants in a vulnerable position. Cheapskates reverse the charges on a regular basis against merchants who delivered the goods. This kind of theft drives up prices for everyone to cover the cost of lost goods and money due to fraudulent credit card use.
Bank wires in-country take at least three days to clear. International bank wires can take up to two weeks to clear! E-Currencies solve these problems by allowing instantaneous and non-reversible transactions. For merchants this means that all sales are final. They don't have to worry about having their account frozen because some hacker used a stolen credit card at their store.
This also means that when you need to send money to a friend or family member anywhere in the world, you can do it in a few seconds, and they can withdraw it as cash from an ATM machine the very next morning!
| 
