Not the most famous, but promising payment systems

The concept of money has changed over the centuries: from bags of salt (in fact, this is where the word salary came from, from the English salt – salt) in ancient Roman times to today's, striking in their volumes, digital transactions. Of course, most of the money transactions are still done in 'cash', but the really big deals are digital.

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Ordinary users are also increasingly faced with non-cash payments: starting with the abundance of plastic cards in our lives, along with the recent launch of Samsung Pay and Apple Pay in Russia, and ending with rumors about Germany's intention to abandon cash throughout the country.
You may not believe it, but almost all the means and mechanisms have already been created for the transition of all mankind to digital means of payment, which, moreover, are much easier to use and even often help to save money. However, there are also some not entirely clear questions. For example, how will banks react to the new rules of the game in the digital world?

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However, today there are already systems that are ready to offer their own version of the new currency. The most famous among these alternatives is perhaps Bitcoin – you can read more about it below. These systems can actually radically change the world if enough of us understand the benefits of cashless transactions and trust these next generation payment systems. The changes that they promise are very significant: we are talking about both a simple change in payment methods, and the emergence of new, unimaginable today types of money that can change the financial landscape around the world.

Bitcoin

The giant of digital currencies, Bitcoin isn't just an alternative way to spend money. Its creators believe (quite rightly, please note) that Bitcoin can replace the traditional financial system, saving people from problems with monetary transactions. One of the keys to the success of this cryptocurrency is its open source code. In other words, unlike pounds or dollars, no one can own or operate Bitcoin – its success depends only on the trust of users.

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Another significant achievement of Bitcoin can be called the openness of operations – various sites like this allow you to publicly view the details of all transactions performed, which eliminates the problems with the absence of an owner who controls the process of performing transactions. To summarize, we can say that Bitcoin is a unique system of its kind, the key feature of which is the absence of a centralized owner, which excludes the possibility of its private or government regulation.

Usage cost: free
Simplicity: 1/5

Ethereum (Ether)

While Bitcoin has clear problems with public attitudes, Ethereum, by contrast, is a more flexible and open platform for investors. Ethereum was launched in 2014 through crowdfunding and is run by a Swiss non-profit organization. The uniqueness of Ether lies in the fact that any user can create their own cryptocurrency, which will be intended not only for making payments, but also for exchanging funds or, for example, conducting transactions with assets.

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The project exists as a single virtual machine. Ethereum's flexibility is so great that giants like Microsoft and IBM are willing to invest huge amounts of money in its development, and even call Ether 'the Bitcoin 2.0 system. On the other hand, Ethereum is so flexible and multifunctional that these qualities can play a cruel joke with it, making its device overly complex and resource-intensive. However, this system is still too young to predict its popularity. Anyway, who said that creating a new world currency would be easy?

Usage cost: free
Simplicity: 1/5

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Circle

Circle is a Android -, iOS – and a web application designed to maximize the speed and ease of money transactions. The main emphasis in it is made on the convenience, simplicity and elegance of the interface. There is also a group payment function here: for example, if you and your friends ordered a taxi after a party, you can split the amount spent with them by sending them a request the next morning. To start using Circle, you just need to download the application and link your bank card in it.

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Another interesting point is the absence of commissions when converting currencies (say, from euros to dollars or vice versa). In addition, this system is based on the blockchain algorithm and the principles of 'free internet', saving you from the costs associated with traditional banks.

Usage cost: free
Simplicity: 3/5

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LEOCoin

LEOCoin also uses blockchain and, by analogy with Bitcoin, can be generated by mining on users' computers. LEOCoin aims to be the digital currency that entrepreneurs will be the first to look at. For this, the developers of the system focused on security. According to them, “LEOCoin has a significantly higher level of security even in comparison with Bitcoin.

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Bitcoin and LEOCoin differ in a very interesting feature for digital payment systems – like ordinary banks, the 'lion' platform will award you a bonus of 4% of your amount simply for creating a wallet. The creators of LEOCoin are positioning this function as “a tool that can keep customers for a long time”. However, the product has not yet become widespread, so there is no need to rush and transfer all your cash to LEOCoin.

Usage cost: free
Simplicity: 2/5

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