5 Ways Virtual Currency Impacts Spending Habits


2. A Global Norm

The U.S. Dollar and the Euro are the current global norms in conventional currency. Recently, Facebook has decided to stop its plans to promote a universal currency for use throughout its social network. Game developers preferred their own currency. However, that doesn't stop Facebook from taking a 30 percent cut on each transaction. Another form of electronic money is Bitcoin. Though still experimental and open source, it has endured over 41 months of active use and only seems to get better. Users use a Bitcoin client to transfer money to others.

3. Developing Broader Audience Spending

With all the clutter in peoples' homes, virtual gifts can sometimes be more appreciated. You can buy customized greetings cards, virtual strawberries from Zynga and machine guns to kill your game opponent quicker. Virtual currency has now hooked people of all ages from teenagers unable to make conventional banking payments to the elderly who buy equipment for their virtual farm.