Venus, the genius bank!
How to do wise banking:
Why is your money so important?
Haven't yo ever wondered what are the real functions of money? Well, imagine a world without money, it would be very difficult to trade anything as both sides would have to agree on the exchange and not everybody wants the same things. Money is the most precise and easy way to exchange your goods or services. You can save it for later as it holds it's value overtime. It's easier to measure the value of any good ore service and then compare it.
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Are there different types of money?
There are three types of money. There's commodity money, where the object (coin) is valuable for what it is, nowadays it's rarely used. Then we have representative money, which is paper money that can be exchanged for something valuable. You get a paper with a written amount of metal for which you can exchange it, the only problem is that, as it depends form the value of gold or silver it can cause inflation or deflation. Finally we've got fiat money, this has value because the government says it can be used as money and because people has accepted that it covers all the functions of money.
- We store your money and other important documents in safe places as vaults.
- We are insured against theft or money loss.
- Your accounts we'll be insured in case the bank fails.
- If you your savings or checking account is high enough you'll be paid some interests!
- You can borrow money from our fractional reserve.* You can find:
- Mortgages( when you give back the money, you'll have to pay a certain amount of interests).
- Credit cards
- Loan for college or a start-up business