VIRTUAL CURRENCY EXCHANGE
VIRTUAL CURRENCY EXCHANGE BUSINESS
A virtual currency–or virtual money–has been defined in 2012 by the European Central Bank as “a type of unregulated, digital money, which is issued and usually controlled by its developers, and used and accepted among the members of a specific virtual community.”
Virtual currencies act as a medium of exchange and as a unit of account within a particular virtual community.
Virtual currencies can also be referred to as digital currencies, alternative currencies, complementary currencies, electronic money, trade credits, crypto-currencies, virtual money, or digital cash.
They are digital currencies because they are “generally digital.”
Virtual currency can also be defined as an Internet-based form of currency or medium of exchange distinct from physical currency (such as banknotes and coins) that exhibits properties similar to physical currencies, but allows for instantaneous transactions and borderless transfer of ownership.
Virtual currencies can be converted to or from a government-backed currency to purchase goods and services from merchants that accept virtual currencies.
You can buy these virtual currencies online using a virtual “wallet” on your PC or smartphone and, in some states, at kiosks and stores.
Virtual currency is accepted as currency by some businesses, exchanged for cash by others, traded electronically, and even purchased as an investment.
The issuer of the currency is usually a non-financial private company. This implies that virtual currency is not regulated by law, and typical financial sector regulation and supervision arrangements are not applicable.
In his written testimony to the 2013 congressional hearing on virtual currencies, Ben Bernanke, the former chairman of The Federal Reserve (the central bank of the United States), stated “virtual currenc[y] is a form of “electronic money” or area of payment system technology that has been evolving over the past 20 years,” in reference to a congressional hearing on the Future of Money before the Committee on Banking and Financial Services on October 11, 1995.
In 2014, the European Banking Authority defined virtual currency as “a digital representation of value that is…accepted by natural or legal persons as a means of payment and can be transferred, stored, or traded electronically.” SOURCE: WIKIPEDIA.
A virtual currency exchange is a particular platform on which individuals and businesses come together to transact business without the use of cash, by using a virtual currency called “trade credit” as a medium of exchange and as a unit of account on the same platform.
A VIRTUAL CURRENCY EXCHANGE could operate as a trading platform, membership organization, social networking community, or B2B eCommerce marketplace, involving several individuals and businesses who come together in an agreement to buy and sell among themselves without the use of cash, by using another virtual currency, called trade credit, as a medium of exchange.
VIRTUAL CURRENCY EXCHANGE works like a central bank. Transactions done through the VIRTUAL CURRENCY EXCHANGE platform using trade credit work exactly like credit card transactions.
A VIRTUAL CURRENCY EXCHANGE business is a business that PROVIDES AND MANAGES A VIRTUAL CURRENCY EXCHANGE PLATFORM AND ONLINE MARKETPLACE for businesses that are members of the exchange, to buy and sell among themselves without using cash, by using a virtual currency, called trade credit or trade dollars, as well as solving business problems for its members.
The VIRTUAL CURRENCY Exchange Business is a business opportunity through which you can provide and manage a particular platform through which individuals and businesses can come together to transact business without the use of cash, by using a virtual currency called “trade credit” as a medium of exchange.
Through this platform, you can start providing interest-free and collateral-free trade credit loans from $10,000 to $100 million or more to businesses of all sizes without using your own money, as well as solving the financial problems and excess capacity challenges of businesses, while earning millions of dollars per year.
Owning your own VIRTUAL CURRENCY EXCHANGE business platform is more like–and even better than–owning your own BANK, operating your own cashless economy, and being the central bank of your own economy all at once.
Every member in your VIRTUAL CURRENCY EXCHANGE uses the currency you create.
You have the ability to create an unlimited amount of currency, subject to credit management policies.
As the VIRTUAL CURRENCY EXCHANGE owner, you are the issuer, the administrator, and the regulator of this currency (or medium of exchange) used in your VIRTUAL CURRENCY EXCHANGE platform.
The VIRTUAL CURRENCY EXCHANGE business is the best definition of–and the most practical way of–creating money from thin air or owning an AUTOMATED MONEYMAKING MACHINE.
…that millions of businesses will be using as a currency and medium of exchange to buy and sell goods and services through your VIRTUAL CURRENCY EXCHANGE platform.
If you ever wanted to start a financial services company — like a bank — combined with a B2B marketplace business model, offering businesses any amount of interest-free financing without collateral security (whether the amount is $100,000, $1 milllion, $100 million, etc.) in five MINUTES…then the “VIRTUAL CURRENCY EXCHANGE Business” is ALL you need to start living your ultimate business dream!