Convincing the populace that crypto(digital money) is advantageous than the physical money.
It is very essential and quintessential to have a better and grainned mastery of the concept of "Digital money" and "physical money" so as to comprehend in totality the theme: which is more better between the two of Digital vis-a-vis physical money.
Digital money
which is synonymous to crypto currency can be defined as a digital currency in which transaction are verified and records maintained by decentralized system.
Physical money
It is a legal tender or coins that can be use to exchange goods, debt or services. It is the most acceptable means of transactions round the world.
Understanding what digital and physical currency means I will be sharing my points why I will prefer Digital money over physical cash.
Advantages of Digital currency
Are
- transaction speed
- security
- transaction cost
Transaction speed
With physical cash it take longer time to carry out an instant deposit from your bank to another but with digital means it takes just seconds to complete your transfer transactions.
Security
Digital money has a very secured system the only way it can be bridge is if someone gains an access to the private key of your crypto wallet or if you loss your private key then you can't have access to your money and there is no way you can recover it.
Transaction cost
The cost of completing a transaction on crypto is very low compared to order financial e.g western union, money gram, bank to bank transaction there are petty on the high side compare to crypto currency.
you write very well buddy
Thanks bro
So much benefits of crypto currency and we all agree that it is ideal but would the Introduction to everyone be easy with eliminating physical money?..I feel it would take time but it is achievable
That's ture thanks for reading bro
The security measures that have been put in place to ensure the safety of your crypto wallet is what keeps drawing people to it. Who knows just how this system will evolve in the coming years...
Thank you for sharing this with us.
That's ture thanks for reading my mod