New forms of money are becoming extremely popular nowadays. Is this a positive development or adding risk to the system? Should new money technology face greater regulation and scrutiny? Give reasons for your answer and include any relevant examples from your own knowledge or experience. Write at least 250 words. You should spend about 40 minutes on this task.

There is no doubt that the usage of

money

has changed significantly in the

last

years

Correct quantifier usage

few years

show examples

. Cryptocurrencies and digital payment platforms have

became

Change the verb form

become

show examples

an integral part of our

live

Replace the word

lives

show examples

.

While

there are some drawbacks, I tend to believe that there are more positive sides. The main benefit of new forms of

money

is that it makes life much easier for many people.

This

means that customers can purchase items online in

more

Add an article

a more

show examples

convenient way, whenever and wherever they want, they just need to touch their smartphone screen for a couple of seconds and there it is, the order is in progress.

In addition

, digital

money

transactions give

an

Remove the article

apply

show examples

access to

wider

Add an article

a wider

show examples

range of products from all over the world. Nowadays, there is a myriad of foreign websites, which provide an

anormous

Correct your spelling

enormous

amount of products, which are not available in your country.

For instance

, the popular

chinese

Change the capitalization

Chinese

show examples

website "Aliexpress" has different payment systems, like Mastercard and Visa, which

gives

Correct subject-verb agreement

give

show examples

a chance to

payment

Replace the word

pay

show examples

for anyone who is willing to do that. Despite the positives mentioned above, there

is

Change the verb form

are

show examples

undoubtedly many risks involved.

In other words

, the innovation of using cryptocurrencies and

another

Correct quantifier usage

other

show examples

forms of digital

money

has

a

Correct article usage

the

show examples

potential of many illegal activities,

such

as

,

Remove the comma

apply

show examples

money

laundering and

frauds

Fix the agreement mistake

fraud

show examples

.

For example

, recently in Russia people

receive

Wrong verb form

have received

show examples

alot

Correct your spelling

a lot

of phone calls from scammers, who are asking them to transfer all their

money

to, as they

say

Add the comma(s)

say,

show examples

"save accounts", but after

that

Add a comma

that,

show examples

they

are

Verb problem

can

show examples

no longer

can

Verb problem

apply

show examples

see them in their online wallets. In conclusion,

while

there are certain negative sides

of

Change preposition

to

show examples

using digital

money

, I would argue that it is a positive trend

overall

. The flexibility and thousands of

apportinities

Correct your spelling

opportunities

that are offered by

such

way of shopping are

endeed

Correct your spelling

indeed

attractive and help people to live more conveniently.