Is foreign exchange a virtual currency

1. Really, I went to the bank for identification, but it's not worth much....... It's worth a few cents! For example, the old Korean currency sold by pinoo is worth 3 yuan, and the foreign currency sold by pinoo is old currency. It's out of date and even invalid. It's just for collection

2. bitcoin is not foreign exchange
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's ideas, open source software was designed and released, and P2P network was built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million
bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items< On February 26, 2014, Joe Manchin, a Democratic senator from West Virginia, issued an open letter to a number of regulatory authorities of the US federal government, hoping that relevant institutions would pay attention to the status quo of bitcoin's encouraging illegal activities and disrupting the financial order, and demanded that actions be taken as soon as possible to completely ban the electronic currency

3. Foreign exchange rate is the price of another country's currency, which is ultimately determined by the foreign exchange market. Foreign exchange trading is generally concentrated in commercial banks and other financial institutions. The purpose of buying and selling foreign exchange is to pursue profits. The method is to buy cheap and sell expensive to earn the difference between buying and selling; The exchange rate on which foreign exchange is sold is called the selling rate, also known as the selling price

under the direct pricing method, the buying rate is the amount of local currency paid by the bank to buy a unit of foreign exchange, and the selling rate is the amount of local currency received by the bank to sell a unit of foreign exchange. The intermediate exchange rate is the intermediate price between the buying exchange rate and the selling exchange rate, that is, the buying exchange rate and the selling exchange rate 1 / 2 = the intermediate exchange rate. It is applicable to the trading of foreign exchange between banks, which means that they do not make profits from the trading of foreign exchange

4. Foreign exchange is the proct of international trade and the means of payment for international trade. Foreign exchange refers to the exchange of foreign exchange between countries. "Exchange" refers to the transfer of currency in different places, "exchange" refers to the conversion between currencies. From a dynamic point of view, foreign exchange is to convert one country's currency into another country's currency and circulate in the international market to settle the claims and debts arising from international economic exchanges. From a static point of view, foreign exchange is also a means and tool for international settlement, such as foreign currency and various securities denominated in foreign currency

the definition of foreign exchange given by the International Monetary Fund (IMF) is: "foreign exchange is the creditor's right that the monetary Administration (central bank, monetary administration, exchange stabilization fund and Ministry of Finance) can use in the event of international balance of payments deficit in the form of bank deposits, treasury bonds, long-term and short-term government bonds, etc. These include bonds that are not circulating in the market as a result of agreements between the central bank and the government, regardless of whether they are expressed in the currency of the debtor country or the currency of the creditor country. " According to the definition of IMF, China has made more explicit provisions on foreign exchange< Article 2 of the Provisional Regulations of the people's Republic of China on foreign exchange control stipulates foreign exchange as follows:

foreign exchange refers to 1< 2. Foreign currency securities, including government bonds, treasury bonds, corporate bonds, stocks, coupons, etc

3. Foreign currency payment voucher, including bills, bank deposit voucher, post and Telecommunications savings voucher< Other foreign exchange funds

from a formal point of view, foreign exchange is a kind of foreign currency or foreign currency assets, but it can not be considered that all non domestic currencies are foreign exchange, only those foreign currencies with convertibility can become foreign exchange

the currencies of countries that accept article 8 of the IMF Agreement are internationally recognized as freely convertible currencies. These countries must implement three laws and regulations:

1< 2. No discriminatory monetary measures or multi currency exchange rates

3. At the request of another member state, it has the obligation to exchange the other party's domestic currency in current transactions at any time

so far, the currencies of more than 50 countries in the world are freely convertible. In addition, the currencies of countries that accept the provisions of Article 14 of the IMF Agreement are regarded as the currencies with limited degree of convertibility. The common characteristics of these currencies are that they impose various restrictions on international payments and capital transfer. Such as restrictions on the free exchange of residents or restrictions on the exchange of foreign exchange under capital account. China's RMB is a limited degree of freely convertible currency

in China, there are more than 20 kinds of foreign currencies that can be listed on the foreign exchange market. They are: USD, DEM, EUR, JPY, GBP, CHF, FRF, ITL, NLG, BEC, DKK, etc SEK, ATS, HKD, CAD, AUD, NZD, sin, mop, Myr, etc.

5. Speculation in foreign exchange is to make use of the exchange rate changes of different countries to make profits. Foreign exchange transaction is a kind of financial transaction aiming at the currency exchange rate of different countries, so when you grasp the future trend of the exchange rate of the transaction currency correctly, you may obtain potential profits

for example, according to your observation of the exchange rate between RMB and US dollar in the market, you think that the current US dollar is undervalued relative to RMB, and you estimate that the US dollar will increase in value in the future. So you buy a certain amount of dollars in RMB in advance. If the trend of the market is consistent with your judgment, and the US dollar is appreciating relative to the RMB, then you will sell the US dollar in exchange for the RMB and make a profit In the past, you had ￥ 1, and it was $0.8 to change it into US dollars. Now when the US dollars appreciate to 1 RMB = 0.6 US dollars, you can change it back to 0.8 = 1.333 with 0.8 US dollars... RMB, 0.333 more than 1 RMB before... You take 100 yuan to buy lollipops. When you buy lollipops, it's 1 yuan, so you buy 100 lollipops. When you buy them, the price in the store is adjusted to 10 yuan for various reasons. You ask the boss how much to sell them back, He said 2 yuan a piece. So you sold him 50 pieces and got 100 yuan. So you went home with 100 yuan and 50 lollipops. You can tell others that you didn't make any money, but you robbed 50 pieces of sugar in vain. This is the profit

6.

1. The meaning is different

foreign exchange purchase is a kind of behavior when we need to pay for foreign currency after foreign currency transaction. It is a transfer transaction, which is equivalent to foreign exchange trading

cash purchase refers to the exchange of local currency cash for foreign currency cash

2

in the past, foreign exchange purchase used to exchange the local currency in the account for foreign currency, and the converted foreign currency would also be in the account or bank card, and no cash would be withdrawn

cash purchase is directly converted into cash

3. The handling charge is different

the handling charge for purchasing banknotes will be higher than that for purchasing foreign exchange. This can be reflected in the daily selling price of foreign exchange (the price the bank sells to customers) and the selling price of cash issued by the Bank of China

7. It doesn't matter
the investment object of monetary fund is RMB, mainly including short-term treasury bonds, government bonds, large amount transferable certificates of deposit, commercial promissory notes, bank acceptance bills, etc.