What is a virtual currency?

virtual currency is a currency that people can use to make payments in virtual environments such as gaming and social networks. It can be obtained by completing tasks in the virtual environment or simply participating in the specified time period and users can also buy it, convert the actual currency to virtual, usually with a very favorable exchange rate. The rise of virtual payments began at the beginning of 2000 and quickly retreated a number of legal and ethical questions.

companies can use virtual currency as a tool for users more involved in the site and facilitate frequent visits to the site. Because users invest more time and sometimes money, they are more inclined to stick to the site to reap these investments. They can also hire friends to join the game, especially if bonuses for new registrations are offered in virtual currency. Users can also participate in virtual worlds with other users.

In the game context, virtual currency is often to the displayozni for shopping in the game. Users can also earn a currency, find it or take it from other players, although the rules may differ from game to play. The currency can provide a faster way to move over the level of games by providing users that can use tools to overcome challenges in the game. It also allows players to accumulate goods for their characters and increase their feeling of connection with the character and game. Other players can also be traded. This makes it easier to cooperate between players and creates a social network.

Social network pages apply virtual currency to activities such as buying virtual gifts for friends, access to special features of the site or making adjustments to profile. In social networking communities, research shows that participants can appreciate the sense of value and achievement of metrics like how many friends they have, the number of gifts they receive, and comments, and commenting on their pages. Virtual currency can add a new dimension of complexity as users may feel a duty to participateT with activities such as gifts exchange to increase their social capital.

Legally such a currency can create some puzzles. In the event that it is only possible to obtain by participating in the activity and cannot be transferred, it can be considered points in the environment of the game or social networks. If it can be bought or traded, problems such as money washing, trying to play the system by paying to other players for money and goods, and so on, they can occur. Japan was one of the first nations to try to regulate the virtual currency.