what is online money
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1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
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Online money transfer is where the old-fashioned concept of wiring money converges with the modern technology of electronic funds transfer, or EFT. You probably use EFT all the time — it’s simply a completely electronic way of transferring money from one bank account to another bank account.
Online money is any money earned online. Although there’s a clear but unexplored difference between online money and digital currencies. In my own simply English term, I will explain below what is online money, also with the slide difference it has with digital currency.
– Online money is any money you earn from online, or any money that you personally add/cash-in to your online account(s). For example using your credit card, paypal, or bank account. For either the purpose to invest, save, or spend it.
-Digital currencies are online money that are in no way related to the above. To be clear, digital currencies are online tokens, that can be converted to fiat money following standard calculations law and protocol. Just like $TRP, $ETH, $BTC among others.
Online money are fiat currencies stored in an online or internet account, which prompt you to MUST have access to an internet connection in other to execute any online transactions, from sending or receiving money into your online account from or to another online account.
To a more simpler term, I will say “online money are digits stored in online accounts with fiat currency sign/symbols. While “offline money” are cash stored in your pocket, with fiat currency sign/symbols written on the notes bill.