Welcome to ExchangeCurrency.Biz
— a site that will help you to exchange currency in a convenient way, giving you different free online services and useful information, like current business news, latest currency rates and many others.
Within this web site you will find useful information about one of the most important processes in the world of finance — Currency Exchange
, also known as foreign exchange, currency trading, forex and other expressions.
Need to exchange the currency can be seen every day for many people, who need a different currency than the one they hold. Usually, these are:
- People who want to get a profit from selling/buying currency (these people are called traders and they perform most transactions);
- Tourists who must travel in a foreign country, which does not accept or not use currency that they hold;
- Users who own or plan to have electronic currency and use this money to buy different goods and services through the Internet;
- Customers of different banks that want to open a deposit or take out a loan in an advantageous way using foreign currency;
But as any process where money is used, foreign currency exchange has some risks about which many do not know, that can be considerably reduced if these rules are applied:
|description of risk
|Guarantee a fair exchange, risk free, is provided only by authorized exchange offices.
||Before to exchange currency check for appropriate license to make sure that the exchange office is not owned by currency fraudsters.
|As rule, each authorized exchange office have the right to use the exchange rate, different from that of the national bank.
||Before proceeding to the exchange of money, check exchange rates from other sources to be sure that chosen exchange office offers the most favorable rate of exchange.
|The fact that the exchange office is authorized does not mean that an employee can not deceive you or he can not go wrong.
||Before entering the foreign exchange office, calculate the amount of money you should receive.
|Again, you should take into account that the employee of exchange office may make mistakes or simply lead you astray.
||Without departing from the exchange office, carefully recalculate the amount of money received and at the same time check that banknotes are not counterfeit or damaged.
Most of the actions listed above are valid only for cases of real life (ie offline), but with slight modifications, works perfectly for online currency exchange.