Saturday, Aug 29, 2020, 12:59 pm

By:Tony Williams

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1.Ven

This is another virtual currency, but it is used by a social network called Hub Culture. The value of it is tied in with various global currencies, so it does fluctuate by a reasonable amount. It is certainly something that is gaining in popularity, but it is lagging behind bitcoins at this moment in time.

2.Detroit Cheers

The idea behind this currency is to really try to bring back the local economy as it has certainly been hit hard in recent years. Businesses are able to sign up and then print them, but only when the same amount of money has been put into a local bank account as they are tied into the US dollar exchange rate.

3.Ithaca Hours

This is actually the oldest alternative currency operating in the United States and it focuses on the Ithaca area of New York. The idea is that you end up having hours and one hour is worth the equivalent of $10. It is a very personal type of alternative currency, but very few local businesses actually handle them, so are they worth it?

4.Goats

Yes in different parts of Africa goats, or even cows, will be used as currency. At one point in Zimbabwe things were that bad it resulted in people being able to pay their medical bills by handing over three goats, but other monetary exchanges are entirely possible.

5.Lewes pound

This alternative currency comes from the town of Lewes in England. The idea is that it is like a local currency that is directly tied in with the pound, but it can only be used in local shops in order to help try to stimulate the local economy.

6.Giant stone discs

This type of currency is used in Micronesia even though they also use the US Dollar. The amazing part is that they do not actually change over, but the locals know who owns which stone and word spreads when one has been traded between members of their society.

7.TEM's

This is something that has been created in villages in Greece and people earn them by buying or selling goods or services. The idea is that the local economy can help itself without relying on the Euro, which is a great thing considering the mess that their actual economy is currently in.

8.Berkshares

This is a local currency that is based in the Berkshires part of Massachusetts. The amazing thing is that almost 400 local businesses now accept it as currency and they even have security features built into the print like real bills.

9.Detergent

This has to be one of the strangest alternative currencies possible because criminals, and drug addicts, have been known to exchange Tide detergent for goods. If they manage to steal a $20 bottle, then they get drugs worth a grand total of $10, so this gives you an idea of the exchange rate.

10.Zimbabwe fuel coupons

The local currency was hardly worth the paper it was printed on for some time and this meant that people ended up actually using their fuel coupons in order to buy goods as they were actually worth more. It is a sad state of affairs when this is seen as being the best option, but at least it meant they could eat even if they could no longer drive anywhere.

11.Linden dollars

This is a virtual currency that is used on the game Second Life. There are actually people on there that earn thousands of dollars a month and the currency can be changed into real cash, so imagine making a living from being a computer character?

12.Bitcoin

This is certainly something that has been in the news in recent weeks as this virtual currency has skyrocketed in value. It is completely online, although some offline stores now accept it as a payment, and it is tied to its own inflation rate. If you get in at the start you may now have a fortune sitting on your computer.

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