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

It is becoming increasingly popular the usage of digital
currency
in
last
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the last
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decade. From my perspective,
this
is a definitely positive phenomenon for current society as a whole despite the financial risks On the one hand,
the
Correct article usage
apply
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digital money can ensure stability and
provided
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provide
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as
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apply
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a reliable alternative to commercial bank money. It means that the mass adoption of one specific
currency
and possible economic crisis can be avoided.
Furthermore
, the ability to digitally trace transactions individually promotes
a
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apply
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monetary sovereignty.
As a result
, electronic currencies can make the payment system safer and prevent some potential future threats.
On the other hand
, implementing a new
currency
by governments could introduce several minor concerns.
In other words
, if some governments establish
such
kind of
currency
, all financial operations will be monitored. In turn,
this
will lead to the centralisation of the monetary system and
raising
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raise
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awareness about the potential misuse. All in all, future
government
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governments
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might have control of your financial data and restrict freedom of economic relations.
To sum up
, individuals must
mindful
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be mindful
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about
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of
show examples
potential control of their finances.
However
, technological safety and a total absence of risks are vital advancements
of
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in
show examples
online
currency
.
Submitted by sevaraalbertovna on

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task achievement
Your essay provides a general view on the topic but lacks a clear and nuanced position on whether the development of online currencies is positive or negative. To improve, directly address the question in the introduction and conclusion, stating whether you believe it to be a positive or a negative development and supporting your view with targeted reasons throughout.
coherence cohesion
Your essay demonstrates some ability to organize ideas logically. However, the overall structure could be enhanced by ensuring that both sides of the argument (positive and negative aspects) receive equivalent development. Additionally, make clearer connections between points, and ensure that your argument progresses naturally from introduction to conclusion.

Fully explain your ideas

To get an excellent score in the IELTS Task 2 writing section, one of the easiest and most effective tips is structuring your writing in the most solid format. A great argument essay structure may be divided to four paragraphs, in which comprises of four sentences (excluding the conclusion paragraph, which comprises of three sentences).

For we to consider an essay structure a great one, it should be looking like this:

  • Paragraph 1 - Introduction
    • Sentence 1 - Background statement
    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
    • Sentence 4 - Outline sentence
  • Paragraph 2 - First supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 3 - Second supporting paragraph
    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
  • Paragraph 4 - Conclusion
    • Sentence 1 - Summary
    • Sentence 2 - Restatement of thesis
    • Sentence 3 - Prediction or recommendation

Our recommended essay structure above comprises of fifteen (15) sentences, which will make your essay approximately 250 to 275 words.

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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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