In an Uncertain World the Internet Is Giving Us More Financial Power

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Everyone knows the internet has created new opportunities. Since the turn of the millennium, cyberspace has not only been responsible for new innovations, it’s opened up sections of society that were once closed to all but a few. Remote working has become more accessible in recent years. Entertainment is now available at the touch of a button. Information is in abundance and communicating with friends is easier than ever. The internet has improved many aspects of our lives.

One thing the internet has given us real power over in the last decade is our finances. From personal banking to payments and even financial trading, our control over money is greater than it once was. This is particularly important in times of uncertainty. We’ve always faced threats, unknowns and instability. Whether it’s economics, politics, health or nature. As humans, we always look to the future with one eye on what could go wrong.

The Internet Offers New Ways to Pay and Earn

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Although we can never predict what’s going to happen and eliminate all risk, we can mitigate it by taking control. For example, when you want to pay something and have a degree of protection, it used to be the case that a credit card was your only option. Today, online payment processors such as PayPal offer an alternative. The system itself changed the way we pay for goods and services because it was more efficient. Online buyers and sellers know they can send and receive money in a secure way without jumping through unnecessary hurdles – i.e. money from bank to online platform to bank.

Today, PayPal processes 12.4 billion transactions from 305 million users each year. This reach means PayPal has the ability to offer its own credit card as well as a “buy now, pay later” service. With PayPal offering a similar level of insurance to the likes of MasterCard and Visa, you can see the power of the internet in full force. Indeed, when you take things a step further, online platforms have also given the average person ways to make money from money. Beyond using eWallets for payments, you can generate revenue using the latest innovations.

One particular area of interest is forex. Prior to the internet, trading of stocks, shares and currencies was reserved for those with inside knowledge. Unless you were part of a trading house or enlisted the services of a broker, playing the markets wasn’t something you could do in your spare time. Today, things have changed. Thanks to the internet, you can start trading with nothing more than a computer or mobile. In fact, as a testament to how easy it is, finding a place to trade is as simple as searching for car insurance or a new energy supplier.

Take Control of Your Money Online

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Using TopRatedForexBrokers, users can search through a list of options based on their own circumstances. Using a dropdown menu, it’s possible to find the best forex brokers for beginners, intermediates and professionals in over 30 countries. Alongside reviews, ratings and suggested brokerage services, aspiring traders can access a wealth of financial information online. In fact, even our little corner of the internet has information that’s useful for traders.

For instance, Raiffeisen Bank corporate bonds started trading on the Bucharest Stock Exchange (BVB) in May 2020. This could a local investment opportunity you can take advantage of by using an online trading site. In years gone by, this wouldn’t have been possible. Of course, we can’t talk about the liberation of finance without mentioning cryptocurrencies. Although the true power of Bitcoin (BTC) et al is yet to be shown, the seeds of change have been sown.

Unlike other products of the internet, cryptos have the most potential to really change the game. Online processors have made our lives easier as consumers. Online trading has made it possible for novices to learn a new skill and, potentially, earn some extra income. However, cryptocurrencies could change the fundamentals of value exchange forever.

Because blockchains create a decentralised system, power is in the hands of users, not a central authority. With the middleman removed, the network powers and regulates itself. If cryptos become commonplace, they will stand as the greatest example of the internet’s ability to empower. However, even if Bitcoin doesn’t replace the Romanian leu, it’s shown us what’s possible. In an unpredictable world, it pays to be prepared and that’s something the internet is allowing us to do more and more each day by taking control of our finances.

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