Why is a profitable exchange on the Internet not everywhere?

The use of electronic money has become an invariable part of our life. With the help of virtual currency, people make transactions, repay loans at the bank, pay for goods and services, pay for utilities, buy tickets, and so on. But payment systems open up another opportunity - currency exchange. Thanks to this option, it is possible to make a quick and profitable exchange of electronic money with the subsequent use of virtual funds for making a payment, making a transfer, and so on. The problem is why the best electronic currency exchange rate cannot be found everywhere. Why this happens will be discussed in the article.

Profitable e-currency exchange: why is it needed?

After the money is credited to the electronic wallet, the holder has several ways:

• Transfer virtual currency to other users, withdraw funds to a card or "convert" them into cash.
• Make purchases in the global network or pay for services.
• Carry out a profitable exchange of electronic currencies in one of the existing ways.

Most of the EPS (electronic payment systems) offer users a personal payment card that can be used to pay in stores and sometimes withdraw cash. The problem is that such "plastic" allows using only the national currency. But what if you urgently need money from another country? In such a situation, it is worth finding a place for the exchange of electronic money, where it will be profitable.

There are several types of exchange on the network:

• Personal exchange. In this case, the two parties find each other on the Internet (for example, through one of the many forums), agree on a suitable exchange rate, negotiate the time of the transaction and complete it.
• Through the exchange. In this case, the purchase and sale of currency is carried out at the most favorable rate. The difficulty is that the price declared by the seller may not immediately resonate with buyers. Because of this, the exchange can take from several minutes to several days.
• Through one of the exchange offices. This option is the most popular. There are dozens of exchangers on the network that offer individual exchange rates. The users task is to study the current offers by monitoring exchangers, choose the appropriate option and carry out the operation.
• Internal exchange. In some electronic payment systems, internal currency exchange is possible when a transaction is made within the system. For example, WebMoney has such an option. This option cannot be called a profitable exchange of electronic money, because the rate here is excessively underestimated. On the other hand, there is no need to look for an exchanger and spend additional time on the transaction - all work is carried out within the system.

Which of the types of electronic currency exchange implies the most favorable rate. As already mentioned, the leading position is occupied by the exchange on the exchange floor, because there the user personally sets the rate he is interested in and is looking for a buyer who is ready to purchase the product (currency) at the declared price.

Favorable exchange of electronic currencies in exchange offices: what you need to know about?

According to statistics, most of the exchanges on the network are made with the help of exchange offices (in a simple way - "exchange offices"). But in order to carry out a profitable exchange of electronic currencies, it is worth considering a number of important factors:

1. Experience and reputation. The exchanger must be reliable, verified and not have negative reviews from users. You can check such a service for honesty through monitoring exchangers, by studying reviews about the site, evaluating the site and the responsiveness of the support service, business level and restrictions.
2. Currency reserve. Many users cannot profitably exchange electronic money due to a limited reserve. By the way, most of the problems arise precisely because of the lack of funds for a special service. For example, a person makes an exchange operation in the hope of quickly executing a transaction, and due to the lack of a reserve, the transaction "hangs". At the same time, no one knows the exact terms of replenishment - most often the process is automated. Therefore, before carrying out the operation, it is worth asking if the exchange office has a stock of the required currency in the account.
3. Processing type. As a rule, modern services carry out operations in three modes:

• Automatic. In this case, the human factor is excluded - all the work is performed by a special script that performs currency exchange. The advantage of this method is obvious - high speed of exchange, no errors.
• Semi-automatic. In this case, the owner of the exchange office takes on part of the functions of exchanging (checking) user data. Unlike the previous version, the exchange transaction is carried out more slowly.
• Manual. Here, all the work is done by a person who accepts the application, processes it, checks and changes the currency with subsequent sending to the customer. The main disadvantage is the delay in the transfer of funds. The entire exchange process can take from several minutes to a day.

Of the listed options, it is worth giving preference to exchangers that work in automatic (in extreme cases, in semi-automatic) mode. In this case, the human factor is excluded and the speed of the exchange transaction increases.

What does the exchange rate depend on?

One of the main points in any exchange transaction is the rate at which the transaction is made. What does it depend on? Two factors are worth highlighting here:

1. General. At the state level, the exchange rate depends on the following aspects:

• The trade balance of the state, that is, the relationship between imports and exports. If a country exports a lot and receives currency in exchange for goods (services), then the balance will be positive, and the exchange rate will be higher. If the reverse process takes place, when imports exceed exports, then there is a shortage of currency and, as a result, a fall in the exchange rate;
• Macroeconomic indicators, including inflation and unemployment rates, GNP and GDP, production levels, and so on.
• The policy of the Central Bank is another fundamental factor on which the exchange rate in the country directly depends. It takes into account the following aspects of activities - currency emission, financial intervention, discount rate, operations with bonds and bills.
• Availability of large investment projects and contracts with other countries for the supply of large volumes of goods. The presence of such agreements allows you to count on a stable inflow of foreign exchange.
• Peoples trust in money. If people try to invest money in foreign currencies and do not trust the national currency, then the level of demand will be high. In the event that the Central Bank begins to impose restrictions, this leads to even greater problems and jumps in the price of money.
• Currency speculation. In practice, it is possible to artificially "swing" the rate by the participants in the interbank market. Such participants are often punished by the Central Bank.
• Force Majeure. One can not dream of a profitable exchange of cash or electronic currencies when hostilities, terrorist attacks or force majeure circumstances begin. Fortunately, such an impact is short-term.

1. Local. In electronic currency exchange, a favorable rate is also not always found. The reason is that each exchange office has the right to set the exchange rate itself within a certain range. This indicator depends on a number of factors:

• Experience of exchanger work. If the exchange office has just opened, then it offers a profitable exchange of electronic money. This is done in order to attract customers and build a reputation. If the newly appeared exchange office sets the same rates as those of the "guru", then no one will go to him.
• Time of day and day of the week. It turns out that the exchange rate of a particular currency in exchangers depends on the volume of transactions. For example, it is profitable to exchange electronic money on weekends.
• The popularity of the exchange direction. Its no secret that the popularity of the destination also matters. For example, if customers buy WMZ for QIWI RUB for a long time , the rate will decrease.

It is not difficult to choose a profitable course on the Internet and make a deal. The main thing is to carefully approach the selection of an "operator" for the exchange and to clearly understand on what factors the exchange rate depends.