The world is said to revolve around money. We need it to do a lot of tasks and activities in our world. However, there was a time when money is not actually used as a part of the economy. Trade usually happened though barter, a transaction in which two or more parties exchange different but equivalent goods and services. You might think of it like an “eye for an eye” type of transaction. Usually, barter trade happens between parties who are too far away from each other and have different products. The Silk Road is one of the most famous trading routes in the world, although it existed after the barter trade went out of style.
On the other hand, barter became one of the foundations of the market that we know today. Learn more about by clicking here.
Instead of the barter trade, humans found a way to exchange goods and services using another form of deal or trade. Money has been in existence for many years now. The first ones were coins made of precious metals like gold and silver. The heavier the metal is, the more expensive it will in the market. From the polis of Greece to the Chinese dynasties, gold and silver coins were the norm in the market. However, only the rich can have an easy access with these coins. The poorer people used bronze and other cheaper metals in order to trade in the market. Some even stick to barter trade as way to transact with other people.
Moving into the modern days, it became too impractical to carry a lot of gold coins in your pockets. The market has also drastically changed as gold became even more expensive along with silver. Incorporating it into coins was the more prevalent idea, and gold became a part of the modern brass and other metallic coins. Paper money was also made in order to make money extremely lightweight and accessible for money people. Now, it has become the norm to have paper bills and coins in our wallets. It is easy to use and understand by many people and provides a way for us to interact with the market without using our own belongings.
However as we are now in a technologically advanced time, the need of humans have also changed. Using paper bills seems to be slower as you need to count it before even using it. The coin has also been abolished in many countries due to its ineffectiveness and cost inefficiency. There are some studies that even say that making a coin is more expensive than spending it. Read more about this here. Many people now opt to use solely paper bills as they are easier to carry. However, what if there is another way? Transactions can be made easier using credit and debit cards.
Credit and debit cards were just used as easier payroll for companies and for rich people to store their money without stuffing their pockets with bills. Now, credit cards can be used anywhere from grocery shops to salons and restaurants. It is even far more useful in online transactions, as it is the primary tool for that. With your credit card information, you can purchase anything you want on most internet platforms. Here lies its downfall though, as it can be really easy for someone to take advantage of your credit card information and use it for their own. The need for a more secure currency was increasing, thus cryptocurrency was born.
The history of cryptocurrency is long and mysterious. Its originator is currently unknown, although there are a few who are speculated to be the one who made the system. It is basically like any kind of currency in our world, it’s just the origin that is different. Anyone can get access to cryptocurrency as long as you want to invest in it. There are a lot of cryptocurrencies these days like Bitcoin, Litecoin and Qtum. You can even exchange one to the other, like the current currencies today. Check out the exchange rate between these cryptocurrencies as well in websites like Rubix. It will surely help you out as you explore the cryptocurrency world.
Whether you are using paper bills or currently trying to mine for Bitcoin, there is always room for you in the economy. All you need to do is to invest and spend wisely so that you will not lose all the money you gained. It can be difficult to use your money wisely, but striving for it will help in balancing your life.
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