Understanding Digital Money vs. Cryptocurrency- WeGain

 Digital money has been conceived of since very early in the age of the internet. Several digital cash companies were founded in the early 1990s, the earliest and best-known of these being DigiCash. However, most of these early initiatives failed or declared bankruptcy quickly because eCommerce had hardly integrated into the internet and there were few retailers that would accept the early digital currencies. The advent of PayPal brought forth the idea of easy-to-use digital financial transactions. 

Financial services companies facilitate digital money transfers and foster online transactions between complete strangers across long distances. Without digital money, many online retail websites would operate much less efficiently. Digital money also makes it possible to bank online or via smartphone, eliminating the need to use cash or to visit a bank in person.

Banks have felt the effect of the accessibility of digital money, and in response closed branches and fired many retail employees. This can be seen as a double-edged sword, as the retail employees are no longer needed, the bank can lower their cost structures since their overhead will be much lower. However, banks are then unable to upsell retail customers who come into their locations with items like car loans, financial planning services, and other in-person sales opportunities

Cryptocurrency, or virtual currency, is an unregulated digital currency that is secured by cryptography, typically on a blockchain or similar distributed ledger. Cryptocurrencies are usually decentralized, meaning that no single entity has control over transactions or account balances.

Cryptocurrencies are distinct from central bank digital currencies or corporate payments systems such as M-Pesa, Alipay, or Venmo. Unlike cryptocurrencies, they are controlled by a single body, which has the ability to freeze and reverse transactions.

WeGain offers a unique platform, using blockchain technology and our Artificial Intelligence engine, WeGain perfectly manages a portfolio of crypto assets.

It purchases a basket of cryptocurrencies to a portfolio, which is called a fund, against this fund tradable tokens are issued, which can be bought or sold on crypto exchanges and peer-to-peer platforms.