How to choose an E-Currency exchange service which is reliable.

E-currency is digital money which means it is now easy for internet transactions to occur. The digital currencies provide payment options online that make the sending and receiving of instant exchanges of money possible from individual to individual or company all around the world. With the modern security steps, the online platforms have grown to be safer, but it can help to be cautious when handling or even selectingan E-currency service.

E-currencies will break edges, which makes it possible for individuals from various areas of the world to transact and these payments are instant with no long control delays unlike bank services. The currencies can be utilized for anything from expenses, charitable donations, E-commerceand to payrolls and peer-to-peerpayments. With apparently so many providers, you need to be careful with choosing the rightcurrency exchange service if you decide to benefit from the best experience while handling payment systems online.

Don’t be too quick to trust an e-currency exchange service. Understand that despite having the capability of online transactions, there have been so many frauds committed online that can’t be ignored. The very last thing you want is to end up with a fraud exchange site so invest some time to understand which companies you should trust and why. Try to find out whatever you can about the supplier to check out the reviews and that means you do not have to waste your money on the fraudulent services.

Always compare rates. This won’t mean settling for the rates which are shadily too low, nevertheless, you also do not need to finish up with something that offers high rates either. By using rate assessment sites you will be able to learn what rates are fairly good and accept them. Some sites that compare are helpful as they can summarize all necessary data on the most respected forex services and using such a site would make it easier so that you can choose the best service provider with the best rates.

Try to exchange huge amounts of money. It could seem dangerous if you are just beginningnevertheless, higher levels of money attract less commission rate which means you can make cost savings by the end of your day. You can investigate and look out for any discount offers depending on the amount transacted which means you can time your transactions to the precise time to help make the gains.

Look at the location of the company. It might not really matter, but sometimes the length between you and the company can have an enormous effect on the commissions which you finish up paying. Some providers offer standardized rates for these e-currencies.However, many may work with the type of currency that you will be thinking about exchanging so look for the rates and the commissions. Understand the exchange plan of your provider so that you are certain of what things to expect with each exchange. Evaluating between the best websites can also prove to be beneficial in cases like this too.

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Digital currencies, generally called cryptocurrencies, have their advantages and have become widely popular worldwide. Countries like America have fully accepted the use of bitcoin while countries such as Australia and Canada are still on the deliberations as to what its applications should be. However, a few countries have reservations on the idea of a decentralized currency without a regulating body. This has led to bans in these countries. Here are a few of the countries that have banned bitcoin;

  1. CHINA

This ban is a misconception as the ban in china is mainly on banking institutions. The people’s bank of china and its affiliates are banned from engaging in trading of bitcoin but trading or mining of bitcoin is completely legal for citizens, as a matter of fact china is one of the biggest bitcoin trading market in the world.


This may be a national issue but the government frowns at the investment in other currencies for any reason, be it digital or physical currency.


Bitcoin was banned in Thailand in 2013; this was because of the decentralization concept. It left no means of accountability and was seen as a risk.


This is probably the strictest country when it comes to cryptocurrency trading. It is seen as a threat to financial security as it has no centralized system of regulation and it vaguely supports money laundering. There is also a capital punishment of about 12 year’s imprisonment for anyone found to deal in cryptocurrency.


The belief surrounding a currency is that it has to be fully authorized by the government and it has to meet all the qualifications of transactions. It should also be controlled by the government. This is the belief of the Bolivia government that led to the ban of bitcoin and other cryptocurrencies inclusive.

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