In a world full of diversity and various currencies in the market, it is important to know about the list and types of currency we have. Reminding ourselves of the old and new forms of currency.
Various forms of currencies can be classified into –
- Hard Money–
This is generally regarding cash at hand, coins, extra shillings, etc. This is money that is registered with the government and also is visible to the naked eye. It is used daily and is popular since the olden times.
- Barter Money–
There were no monetary denotations issued, and people would often exchange fodder or animals for money like a thing.
- Liquid Money–
This has been there but not for a long time; it is when the cash at hand is also stored in banks and ATMs. One can withdraw and even transfer money. The. The exchange of money along with the transactions takes place within the inner networking of the banks.
- Digital Money–
This brand-new concept includes digital wallets, where one can send and receive money. Along with that, certain apps will also provide you with cashback offers. Under this is another decentralized money called as.
What is it?
Since the concept is new, there are accusations that it is nothing but a pump and dump scheme. It has had an attraction to suspicious activities, high risks, instant but depleting rewards, as well as the low bars in the stock market. They have also been pressed for being included in criminal activity. Most people would agree to disagree that it might not be a scam because they have higher return policies, and many peer-to-peer groups have invested in the growing concept of Bitcoin.
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