Online currencies have become more common in recent years. Why is this? Is this a positive or negative development?

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It is undoubtedly to say that society, throughout the latest years, has faced multiple innovations, one
such
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being digital currency.
This
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essay shall analyse some of the advantages of online money and what is the reason
of
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for
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being used more frequently. On one hand, using online
currencies
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as a payment type is straightforward and worldwide accepted. Nowadays, most of the shopping platforms offer, as an incentive, discounts or in some cases, points that can be
further
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for other acquisitions on the website.
Although
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it may seem like a difficult process for seniors, most of the shopping platforms are user-friendly and very intuitive. People can pay from the comfort of their house in any country.
Nevertheless
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, in Romania
for example
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, even the local authorities have been implementing digital payments and it seems to be a favourable outcome.
On the other hand
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, using online currency allows people not to worry about being robbed or worrying about a counterfeit bill.
Furthermore
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, physical cash is subject to various white-collar crimes, including money laundering, fraud, and bribery because it is difficult for prosecutors to charge felons.
In addition
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, digital payment has not
subject
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been subject
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to counterfeit bills in the past few years, the United States, recorded several cases compared to countries where online
currencies
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are implemented. As well, tourists have encountered numerous incidents when they were deprived and scammed by foreign exchange offices.
To sum up
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, online
currencies
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are used more and more because they are effortless and secure. There have been registered some downsides,
however
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, in my
opinion
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opinion,
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the positive developments outweigh the negative ones as
the
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apply
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online
currencies
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are a safer,
efortless
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effortless
and secure option for any of the moments of life.
Submitted by iuliabubulica23 on

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Topic Vocabulary:
  • Digital wallet
  • Decentralization
  • Cryptocurrency
  • Blockchain
  • E-commerce
  • Fiat currency
  • Financial inclusion
  • Cross-border transactions
  • Volatility
  • Smart contracts
  • Decentralized Finance (DeFi)
  • Mining
  • Energy consumption
  • Pseudo-anonymous
  • Regulatory challenges
  • Financial privacy
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