It is irrefutable that the paper cash has been replaced by the digital currency and now people prefer it as a primary medium of transaction.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.
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been replaced
by the digital currency and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.