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Calvin Tagacay

Crypto vs Cash

Crypto vs Cash

Why is cryptocurrency getting popular?
The world is getting more and more digital. Whatever we can make digital, we make it digital. In the past, people send handwritten letters, travel long distances for a meeting, do all transactions in cash. But now, all these things are mostly done digitally. The digital revolution made things cheaper, faster, and convenient.

Transaction Fees
Sending money from bank to bank or remittance centers is expensive especially when you send money to a different country. Transaction fees of cryptocurrency are cheaper and you can send it to anyone in the world as long as they have a crypto wallet address.

Convenience
Many people say that cash transactions are still better because you do not need any device, electricity, or internet to transact. That is true. Cash is better in micro-transactions like buying little stuff in a convenient store. But when it comes to long-distance transactions or if a big amount of money is involved, digital currencies like cryptocurrencies are better.

Is there no cash in the future?
There will still be cash. At least in the near future. But in the further future where all people are connected to the internet, a cashless society might become a reality.

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