Currency notes have been replaced by plastic money and now its all about electronic money . Discuss advantages and disadvantage.

It is irrefutable that the paper cash has been replaced by the digital currency and now people prefer it as a primary medium of transaction.
This
essay shall discuss its benefits including convenience and safety in terms of using, along with some of the drawbacks of
this
phenomenon. On the one hand, there are a wide variety of reasons of using digital payment.
To begin
with, the value of the money cannot be assessed during spending. As a matter of fact, it might lead to over expend while shopping online or physically at a store.
For instance
, when individuals pay in retail outlets through mobile, psychologically they do not feel about extra spending.
Moreover
, non-accessibility to a major population of the world is another obvious issue. Many underdeveloped countries are still unable to provide
this
type of a transaction system to the nation.
Therefore
, it can be concluded that online transferring of the money to the vendor has still some issue that needs to be resolved properly.
On the other hand
, a numerous positive aspects are
also
related to adopting digital transferring of assets.
Firstly
, it is a convenient mode of purchasing because the masses do not need to carry a huge sum of cash with them. As a matter of fact, they can not only use it all over the world, but
also
save their time by avoiding currency exchanging at the particular shops.
Secondly
, safety of a person as well as valuables is a major benefit of using web transactions because robbers and thieves cannot steal
this
type of money.
Therefore
, it seems that it is the most preferable method to purchase items. In conclusion,
this
essay has discussed two major threats including the possibility of budget disturbance and the accessibility issues
besides
a myriad of upsides of
this
situation.
Submitted by farrukh.maqsood on

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