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Topic: Paper money vs Digital currency (Read 878 times)

full member
Activity: 1134
Merit: 134
April 13, 2021, 05:53:04 AM
A large majority of peoples in the world believes on paper money. They think that this is used for buying or selling goods and services. A currency which has a physically appearance in the world.
But the upcoming world is the world of  digital currency. Because it is easy and reliable way for sending and receiving money at any place in the world. We can send or receive money within minutes.
But there is a huge difference between both these two types of currencies.
So, it is very difficult that Digital currency will be adopted worldwide. Because of the users are not aware of this new technology and they are not comfortable to use this mode of payment. Because they don't believe in this technology yet.
So, how we  convince the peoples to adopt digital currency?Huh

Most people are aware of the existence of digital currency and still uses paper money when buying goods/services. Practically speaking, some people prefer paper money over digital money simply because of its availability and accessibility. What if digital payment is not available? and what if you encounter some problem accessing your digital wallet?. I think those are the flaws of a cashless payment system and its not always applicable to every circumstance which is why most people still prefer paper money over digital money
full member
Activity: 686
Merit: 100
April 13, 2021, 05:06:52 AM
Actually it is tough to convince people to use digital currency because they are using paper money from the beginning. They are not used to buy sell with digital currency. Time and situation will handle it. We should teach them about digital currency in basic level now.
It is true that it is very difficult to introduce digital currency to other people. I have friends and I advise you to collect digital currency to save for the long term, but it is in vain. My friends do not respond to what I say but now my friends regret seeing the market.
full member
Activity: 771
Merit: 105
Citizen Finance
April 13, 2021, 01:22:38 AM
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So, how we  convince the peoples to adopt digital currency?Huh

We don't have to bother convincing people about the adoption of digital currency (crypto). Even though they currently don't believe in using cryptocurrency, over time they will realize that crypto and digital currency are important in everyday life.

Currently, many giant companies and well-known institutions have adopted a lot of bitcoin, which has made many people realize that bitcoin and digital currency are very worthy of adoption.
sr. member
Activity: 644
Merit: 250
April 13, 2021, 12:34:27 AM
A large majority of peoples in the world believes on paper money. They think that this is used for buying or selling goods and services. A currency which has a physically appearance in the world.
But the upcoming world is the world of  digital currency. Because it is easy and reliable way for sending and receiving money at any place in the world. We can send or receive money within minutes.
But there is a huge difference between both these two types of currencies.
So, it is very difficult that Digital currency will be adopted worldwide. Because of the users are not aware of this new technology and they are not comfortable to use this mode of payment. Because they don't believe in this technology yet.
So, how we  convince the peoples to adopt digital currency?Huh
Today world changing. If you saw many people used digital currency. Today you can pay digital currency when you buy and sell. If you want to buy a products on online you need to pay digital currency.
hero member
Activity: 1554
Merit: 515
Copy-Paste: ★Bitvest.io★ Play Plinko o
April 12, 2021, 11:32:43 PM
I want to give my 2 cents worth about the issue. I always regard these two as two separate yet important tools in my journey to financial freedom. Bitcoin is a digital asset that can be traded and get profit from it, if you know how the system works. Many have profited from it and was able to convert it to fiat where at that point the fiat is now serving as a tool to buy goods and the services that accepts fiat. Bitcoin still regarded as an asset, is now rarely used as a medium of exchange. Invest and trade smart and you will reap the benefits of Bitcoin profit.
member
Activity: 196
Merit: 40
April 12, 2021, 05:25:05 PM
Maybe you are about fiat currency and cryptocurrency, we already have a lot of thread about comparison for both currency, both are good actually, each currency are good for daily expenses but in different circumstances. Fiat currency will always be the preferred one when talking about daily expenses as it can be used anytime and anywhere we are while cryptocurrency is also good in terms of sending money, investing and trading.
sr. member
Activity: 1120
Merit: 257
Bitgesell (BGL) Decentralized Cryptocurrency!
April 12, 2021, 04:56:55 PM
It is not easy to convince people who are accustomed to using paper money to be able to adopt digital currency. Especially for people who are old
and do not understand technology, it must be very difficult to use digital currency. But as long as we educate slowly and patiently, anyone should
finally be able to start adopting digital currency. Although it may take a while for a lot of people to start adopting Bitcoin. The key is to be patient
in explaining and convincing people about digital currency, but for people to believe in something new it requires a long process.
sr. member
Activity: 474
Merit: 251
April 12, 2021, 04:35:27 PM
The choice is obvious - digital money. I wonder why we still haven't switched to digital currencies completely yet.
full member
Activity: 756
Merit: 107
★777Coin.com★ Fun BTC Casino!
April 12, 2021, 01:35:11 PM
So, how we  convince the peoples to adopt digital currency?Huh
We just need to show them what crypto really is then they would decided it on their own,
We couldn't force them if they don't want too but at least we tried to convince them into it.
We all have our choice and free to do what we want so as to those who doesn't want crypto or digital currency.
full member
Activity: 395
Merit: 100
Student Coin
April 12, 2021, 01:08:02 PM
Actually it is tough to convince people to use digital currency because they are using paper money from the beginning. They are not used to buy sell with digital currency. Time and situation will handle it. We should teach them about digital currency in basic level now.
full member
Activity: 550
Merit: 100
April 12, 2021, 12:34:03 PM
A large majority of peoples in the world believes on paper money. They think that this is used for buying or selling goods and services. A currency which has a physically appearance in the world.
But the upcoming world is the world of  digital currency. Because it is easy and reliable way for sending and receiving money at any place in the world. We can send or receive money within minutes.
But there is a huge difference between both these two types of currencies.
So, it is very difficult that Digital currency will be adopted worldwide. Because of the users are not aware of this new technology and they are not comfortable to use this mode of payment. Because they don't believe in this technology yet.
So, how we  convince the peoples to adopt digital currency?Huh
True to paper money and digital money has different. Money has a stable value and users can rest assured to use paper money to exchange all activities in life. This is not available in digital money. The value of electronic money changes constantly depends on the market. Electronic money is not uncommon in everyone so it has not been used as paper money. An interesting difference is that only new electronic money brings great profits to users. Gradually Bitcoin will master.
full member
Activity: 1274
Merit: 107
Student Coin
April 12, 2021, 12:24:33 PM
Already today, both the banking system and the government are urging people to abandon paper money, completely switching to non-cash payments. But their plans will lead to the results they least want. I believe that this trend will lead to the fact that fiat funds will gradually survive from use and cryptocurrencies will take their place.
copper member
Activity: 196
Merit: 78
April 12, 2021, 12:13:58 PM
I always prefer digital money first. Because, If you need to transfer money to long distance, You have to use digital money for sending money fast. Digital money is problem solver for sending long distance money.

Absolutely right. Digital money is transferred faster and no third party is involved that is why transaction fee is much less than transfer through  Traditional banking system. Digital money specially Bitcoin is Anti inflationary because its supply is limited unlike Fiat money that can be printed as much as the Central Banks want. Mass adaption is taking place worldwide specially developed economies. developing countries will also adapt it gradually.
newbie
Activity: 13
Merit: 0
April 12, 2021, 11:41:34 AM
I think it's just a matter of time. Even states are already trying to gain control of crypto. This process can no longer be stopped.
full member
Activity: 854
Merit: 110
April 12, 2021, 11:33:08 AM
I always prefer digital money first. Because, If you need to transfer money to long distance, You have to use digital money for sending money fast. Digital money is problem solver for sending long distance money.
member
Activity: 812
Merit: 28
Apeswap
April 12, 2021, 11:28:31 AM
Many people that used to paper money see it as the best money someone can use to invest and make something good from the investment. There are some country don't need digital currency in their country because they are not the one controlling the digital currency in the country.
Many investors are now prefer to use bitcoin to invest than paper money because during the pandemic many paper money loosed value in the exchange market where bitcoin was pumping massively through out the season.
full member
Activity: 646
Merit: 103
April 12, 2021, 11:12:38 AM
#99
The advantage of banknotes is that it is direct immediately with a variety of denominations for all types of goods and does not cost anything to pay. For items with small denominations, it is difficult to return the change and normally if shopping in the store, the employee will pay you some candy worth the extra money they cannot pay. with paper money. Banknotes have value in existence and anonymity. The holder of the banknote has immediate and unaffected power over the fiat money in the bank account. Banknotes need to be properly stored and they will lose value if you damage them.
For large transactions up to tens of millions of dollars, billions of dollars in cash transactions will be more difficult to execute.

Cryptocurrencies can pay for any item of value up to billions of dollars. Cryptocurrencies can be as small as a few digits after the decimal. Cryptocurrencies may or may not be anonymous depending on the currency you use. Appropriate electronic equipment is required for use and storage. Cryptocurrency transactions will incur a certain cost. Cryptocurrencies are secured on the blockchain so there will be no fraudulent operations.
legendary
Activity: 1988
Merit: 1048
Crypto Casino & Sportsbook
April 12, 2021, 10:18:28 AM
#98
Both fiat currency and cryptocurrency are good, they are both used for different purposes. Almost all of the people are using fiat currency because this is the standard one and no one can live without it because they are using it to sustain their daily needs and wants while cryptocurrency is still new for the eyes and ears of many people because it is used on the internet and some are not familiar with using the internet and some are now having a stable internet connection. When talking about daily expenses then we should still go for fiat currency as we can use it for buying things in just a moment without any transaction fee and time for confirmation.

fiat money has been the major currency of humankind for centuries and it will not be replaced anytime soon. but definitely, we are already in the digital age and use of digital currencies is one of the accompanying developments in this age. however, even people who are into digital currencies or crypto are still using fiat in their major financial dealings. let's accept that we dont need to compare the paper money vs digital currency, as they can co-exist with each other.
whichever is convenient for the user, at least he has alternative options now.
member
Activity: 630
Merit: 28
April 12, 2021, 10:03:53 AM
#97
Actualizing the global use of digital currency all of the worlds will take a whole lot of years before it comes to existence. The majority still believe in paper money than digital money more especially the aged ones. They prefer using paper money due to they can feel and have easy access to it without using their gadgets.
full member
Activity: 322
Merit: 113
April 12, 2021, 08:52:21 AM
#96
Both fiat currency and cryptocurrency are good, they are both used for different purposes. Almost all of the people are using fiat currency because this is the standard one and no one can live without it because they are using it to sustain their daily needs and wants while cryptocurrency is still new for the eyes and ears of many people because it is used on the internet and some are not familiar with using the internet and some are now having a stable internet connection. When talking about daily expenses then we should still go for fiat currency as we can use it for buying things in just a moment without any transaction fee and time for confirmation.
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