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The evolution of money

September 13, 2019

Cryptocurrency is becoming so popular these days. Are you curious about its history and the money evolution in general? This article will tell you about it.

For those who are interested in the financial market, money evolution then this is an exciting topic. As a matter of fact, money is an important factor of the economy and it has been transformed from one type to the other from time to time. 

The evolution of money

Long time ago, before the Silk Road became the most popular trading route, all the transactions happened through barter. People exchanged different goods with the same value to each other. Then they found another form of trade to exchange their goods and services which we call money these days. The first type of money was coins, made of gold, silver and other metals. Coins is still a common currency in many countries. Then it came to the point when people realized that carrying a lot of coins is not very convenient. That’s when paper money was made to make money accessible and easier to use. 

In modern days, with the development of technology, using paper bills seems to be slow and ineffective, especially with big transactions. Therefore, people invented a new method, that is using credit and debit cards. This used to be applied by big companies to pay salary for their employees. Nowadays, you can use them for any personal transactions, like paying for buying groceries or eating at a restaurant. Additionally, with a credit card, you can buy anything online all around the world. However, it leaves your personal information on the internet platforms and someone might take advantage of it. That’s why a more secure currency was born, we call it cryptocurrency.

Cryptocurrency is the newest type of currency

Using money wisely with cryptocurrency

The founder of cryptocurrency is still mysterious. But other than that, using it is simple, just like any other kinds of currency. With many types of cryptocurrencies in the market such as Bitcoin, Ethereum,… you can invest and spend wisely, even exchange one to the other. If you want to explore the cryptocurrency world, make sure you find a trustworthy website, check out the exchange rate and then decide how much you spend.

Make your money work for you, it will then make your life much easier. However, you need to be careful with your money and using money wisely.

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