what is the difference between EFT and ETN
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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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EFT is an acronym of “Electronic Funds Transfer” which is more familiar in the online money transfer industry, mostly in used by online banks and other financial institutions. While on the other hand, ETN is equally an acronym to “Extra-Terrestrial Number”, this is more common in used here on the takido memoir community.
In short words;
– EFT is used when you or a bank wants to send money to another bank account holder, online.
– ETN is used and required when you or your friend wants to send/receive money to or from another Memoir account holder, online.
AI Overview
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ETF vs. ETN vs. ETP – Differences, Similarities, Risks, Etc.
ETFs and ETNs are both exchange-traded products (ETPs) that trade on a stock exchange and track the performance of a specific index or asset. However, their underlying structure and associated risks differ significantly. ETFs are investment companies that hold a basket of securities (like stocks or bonds). ETNs, on the other hand, are unsecured debt obligations issued by financial institutions. Their value is tied to the performance of the underlying asset or index, and they carry credit risk from the issuer.