Trade has always been one of the backbones of economic development. In the ancient times, it wasn’t unheard of that kingdoms traded with each other.
There are a lot of reasons for this, but mainly because there are certain materials that are not available in certain areas. Ancient Korea traded with China for salt, while the Chinese were looking for red ginseng in Korea. Kingdoms in South America traded with each other all the time. Even the Indians and the Arabs had to cross seas just to travel to the Malays just to trade their spices. The Silk Road in the Middle East was constructed to make a faster route to the European countries. Of course, there are conflicts here and there but the effect of trade to the consciousness of people can be seen until today.
One of the not obvious effects of the barter trade is not just the exchange of goods and services. The exchange of culture happened as well. As people interacted with each other, conversation happens and that exchange of information leads to learning and discovery. There might be a language barrier, but it did not stop the message from being delivered with each person. The items that were traded provide a piece of history of where it came from. This makes that item that creates a connection between two very different cultures. Stories and tales from each other’s home country are also exchanged, and these were passed on from generation to generation. Why do you think a lot of old stories have similar concepts and sometimes even storylines? Click here to read more.
In the modern era, the exchange of goods and services happens when money is involved. Barter trade still exists, but usually it’s just between person to person. With currency, you are trading with society itself as money just revolves and increases over time. Resources are exchanged, currency is given and everybody is happy for the most part. This is the most common interaction between a person and the currency, and this plays with the person’s needs and wants. Without money, you cannot interact with the modern society as it is considered a need or means to acquire more.
As you may know, money commonly comes in two physical forms: paper and coins. Coins are rather controversial these days as there are people who are actively against it. Even countries like Canada have started to ban it from their currency as it is said to be not economical. Learn more about this by clicking here: https://www.mint.ca/store/mint/about-the-mint/phasing-out-the-penny-6900002
Paper currency, on the other hand, is still used by a lot of people. You may even have some of it inside your pockets or wallets right now. It can hold more value than a coin without getting heavier and it is easier to store as well. It also feels better to have a wad of cash in your wallet rather than a bag full of coins.
However, using cards for transactions is even easier. With just one swipe, you can acquire the service or product that you want. You can even use your phone instead of having an actual card. It is that convenient for anyone who uses it. You do not need to worry about forgetting you change at the counter after a transaction happens. One tap and you are done.
What if we tell you though that there might be an easier way?
You might have heard of the term cryptocurrency. It is virtual cash that you can store even on your own phone. One of the biggest advantages of using cryptocurrency is that you can use it anywhere and anytime with a good internet connection. Many cryptocurrencies can also hide your transactions by securing them using a private key. You can even share and exchange currencies online using sites like rubix. It is such a convenient means for exchanging goods and services and you can also mine some of your own using their respective software.
Trade can be easy to understand but there are a lot of ways that you can mess it up. In this modern world, you must be careful with your money whether it is the tangible one or cryptocurrency. Spend wisely, invest some of it if you can and save the rest. It might be tempting to spend some now, but try to hold back and the results might surprise you.