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Virtual Trading and the Global Economy​​​​​​​

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We have seen the rise of the virtual world in the twenty first century, which is a world that exists entirely on the internet. The currency that is used  is known as bitcoin, but it does not possess any physical form. Bitcoin has now become a widely used currency, especially in China, the economic powerhouse. However, the lack of physical form makes bitcoin completely different to what money should be. 

A long time ago, the value of money was exactly what it was made of. Gold coins were made, and their value depended on the amount of gold in circulation. Nowadays, most money is printed on paper, which does not have that much value. Therefore, the government can print as much money as it wants as long as it has the cheap materials needed to print the money. 

Bitcoin is the next step in this worrying trend regarding the creation money. Bitcoins have no physical form, and they cost almost nothing to create. However, using bitcoin is very convenient as online transactions can be carried out  using a currency which is suitable for  expediting simple financial transactions. 

 

more details : Virtual Trading and the Global Economy

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  • 2 years later...

  Currency is traded in pair in the forex market. Forex platform displays two currency prices for the same combination. These are the ask and bid values. The first one is valid for traders who want to buy, while others apply to sell. The difference between these two values is the spread. I am trading with ForexChief, and it offers me tight and low spread.

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