Digital Currencies are cheaper!
Transaction costs using credit cards or PayPal range from 2.5% to 4.5%. International bank wires cost, on average, $50 to $70, not including intermediary bank fees and receiving fees.Most digital currencies are 100 times cheaper. Even the most expensive digital currency costs less than a credit card transaction! This means that transactions that were previously too expensive to make because of the time, money, and effort involved are now feasible using Digital Currencies such as EuroGoldCash. For retail merchants who process a high volume of credit card transactions, the savings can be significant! The savings in transaction costs can then be passed along to customers in the form of lower prices, which helps merchants accepting digital currencies to gain a competitive advantage.
Digital Currencies are faster!
The average credit card transaction can be reversed three to six months after the sale took place. This leaves merchants in a vulnerable position. This kind of theft drives up prices for everyone to cover the cost of lost goods and money due to fraudulent credit card use. Domestic Bank wires take at least three days to clear. International bank wires can take up to two weeks to clear! Digital Currencies solve these problems by allowing instantaneous and non-reversible transactions! For merchants this means that all sales are final. They don't have to worry about having their account frozen because some hacker used a stolen credit card at their store.Digital Currencies are international!
If merchants wanted to sell their product or service on the web, they needed an international credit card merchantaccount. The problem is, outside the United States and EU, merchant accounts can be difficult to obtain. This creates a barrier to entry that makes it harder for international entrepreneurs to offer their products and services to the world. Digital Currencies solve this problem by allowing instantaneous transfers of money anywhere in the world! As the network of exchange agents grows, it is now possible to quickly and easily convert your digital currency to cash in any country in the world.
Digital Currencies are safer!
Credit card fraud is becoming increasingly prevalent as hackers steal card numbers from computer networks, crooks root through your garbage and steal your identity, and other nefarious thieves devise ways to get your account number. Digital Currencies offer a higher level of security than credit cards. Even the lowest level of security for digital money, an account number and password, is one order of magnitude safer than a credit card. All a thief needs to steal a credit card is the account number.Digital Currencies Allow Person to Person Payments!
Digital Currencies allow one thing that credit cards never will: Private or anonymous Person to Person Payments. So what do you do when you want to buy a collector's doll that you found in an online classified ad, but the owner lives in New Zealand and you live in the US? Digital Currencies allow you to spend your money to anyone else who has a digital currency account. It only takes a few moments for your friend to open his own account using the internet, and in most cases it doesn't cost a penny! Person to Person Payments allow small scale merchants to get started without the added expense of maintaining a credit card merchant account. This means lower costs of entry into the marketplace and lower costs of doing business!Digital Currencies Allow You to Protect Your Privacy!
It is a known fact that traditional banks store massive databases tracking all of your account activity in the name of "know your customer" and "fighting the war on drugs" and more recently "the war on terrorism." In reality, we all know that banks conveniently use those databases to sell information about their customers spending habits to other companies, and governments use that data to find excuses to confiscate your money and property. So, not only does your government have access to all of your spending habits, but so does any individual or organization who is willing to pay for it or any lawyer that can easily get a subpoena from a judge in a civil lawsuit.Most Digital Currencies are housed in "capital-friendly" jurisdictions with strict privacy protection laws. For someone to get your account information they have to obtain a court order in the country where your Digital Currency is headquartered. This means that true crimes can be prosecuted, but your privacy will remain intact if you are just an average law-abiding customer. Think of it as guaranteeing yourself the right to "due process". Furthermore, it is impossible to use digital currencies for money-laundering. You have to spend your national money (such as US dollars) through an exchange agent in order to purchase Digital Currency in the first place. Since exchange agents all have accounts at banks with anti-money-laundering practices in place, this means that all money used to purchase digital currencies is theoretically "clean". Clean money in, clean money out!
At EuroGoldCash, for example, you do not even need to provide ID or real name. Just open a free account, and you are set to go to send or receive money to or from anywhere in the world. All transactions are
irrevocable, so there is no chance of blocked accounts or reversals.
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