Many people are ignorant of what is e-currency exchange or e-currency trading. To the majority, they are confused, thinking that e-currency exchange is the same as forex trading or trading in foreign exchange.
In actual fact, and to the surprise of many, e-currency exchange and forex trading are two different creatures, though they belong to the same financial genre.
In e-currency exchange, you buy and sell e-currencies, effectively exchanging the ownership of e-currencies on the web.
What are some of the e-currencies exchange or trading you can do?
Here are some of the e-currencies you can buy or sell:
– Buy e-Gold, 1mdc, Pecunix, e-Bullion, Liberty Reserve or WebMoney with a bank wire or western union.
– Sell e-Gold, 1mdc, Pecunix, e-Bullion, Liberty Reserve or WebMoney for a bank wire or western union.
– Exchange e-Gold, 1mdc, Pecunix, e-Bullion, Liberty Reserve or WebMoney among each other.
What are the real currencies you can use to buy these e-currencies or to exchange them for?
Some of the major currencies you can use to buy and sell e-currencies for are:
USD (US Dollars)
CAD (Canada Dollars)
GBP (UK Pounds)
JPY (Japan Yen)
CHF (Switzerland Francs)
AUD (Australia Dollars)
AED (U.A.E. Dirhams)
IRR (Iran Rials)
SAR (Saudi Arabia Riyals)
INR (India Rupees)
SGD (Singapore Dollar)
HKD (Hongkong Dollar)
SEK (Swedish Krona)
This effectively allows almost the entire world to get involved in e-currency exchange. Where your country’s currency is not listed, it is easy to take a 2-step approach to fund your e-currency account. You need to exchange your country’s currency into the acceptable currency as listed above and then use that currency to fund your account.
The usual way to earn from e-currency exchange is to earn some 0.5% to 5% of your money as returns within the day, and to let the magic of compounding to compound these profits every 24 hours!
The compounding effect would really multiply your income, so it is possible to earn a 5 figure income on e-currency exchange itself!
In August 2006 the e-currency exchange system was updated so now it takes 24-48 hours to withdraw profits. This allow you as a private e-currency exchange trader to withdraw part of your gains as an income to live on and leaving the balance to continue to earn as your cash cow generating you a constant stream of profits.