Money is part of everyday life in the modern world. Many however use it daily but have never stopped to take into account obvious facts that underly most currencies around the world.
Here are some of the interesting facts about money;
1. Don't Burn Money
Yes, it is illegal in Kenya and other countries around the world to burn, deface and/or damage money with the intent to defraud or to force the government to replace the damaged ones with new ones.
Under the Kenyan law, all Kenyan currency belongs to the government. It takes money to make money and any form of destruction or defacing of currency cost taxpayers money to replace them.
If your money is torn, you are supposed to take it to the bank, it will be replaced.
2. Money has bacteria
According to a 2002 research, 94% of paper money around the world are contaminated with bacteria. Banknotes especially can carry and transfer the flu virus for over two weeks.
Most of the bacteria are however harmless to your health.
3. If it's too perfect, it is fake!
One way to discover counterfeit money is if it appears too perfect. Counterfeit has the allure of being too good and too perfect than authentic money.
Authentic notes are by default made to beat counterfeiters and technology improves so does the ingenuity of those trying to beat the money mint.
4. Only 8% of the world’s currency is actual physical money
According to research, 8% of all the money around the world is actual physical cash.The rest is digital money that exists only on digital platforms such as Kenya’s pioneering project, M-Pesa.
92% of the money is in the digital space.
5. Rough edges on coins
The grooves along the edges of coins were added to keep people from scraping off the coin faces and selling them as precious metals.
They were also made to avoid counterfeiting
6. Bill Gates
According to Forbes, Bill Gates is the wealthiest man in the world. If he decides to spend a million dollars every day, he would run out of money in about 218 years.
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