With the advent of virtual currencies, another way of making money online was born. People on line from myspace, Hi5 and facebook and other social network now has billions on their account as they play games.

With this large amount of money, the user can buy gifts, cakes, house, cars and so many other staff. They had the financial freedom in their virtual world when they had lots of money.

I remember the application Yoville in Facebook which gives you means of earning and spending money. You can earn virtual dollars when you play tic-tac toe and report to the factory to work. So, what is the player’s motivation to earn such virtual currencies? They will have the financial power to buy house staff and decorate their house.

The game Yoville touched a human nature which is to collect things; to want the best of everything. In Yoville, a user can have something that they could not buy in the real world. You can own a two-floor condo unit and decorate it with the latest available staff. You can buy the latest laptop in the market and show it off to your friends. Psychologically it has become an outlet of frustrated dreams from the real world.

In the social network Hi5, virtual currencies are used to buy cakes, flowers, and so many kinds of gifts to give to your friends. When you send a cake to a friend though they could not eat it; you are sending the feelings of the cake to that friend. So receiving a love gift or a friendly cake can already make your day starts rightly.

Workers in China are known to play a game with virtual currencies and sold the virtual money on the game user in the west. So in this way the virtual money can be turned into a real currency through this process.

Experts though see a very complicated task ahead for the use and making of virtual currencies. And one problem can be that of huge fraud activities for there are no institutions that can monitor the exchange of virtual currencies online.

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