Great hivers,
I'm very happy to be here again. Special thanks to the organisers of this contest and all the participants. It's been an awesome time doing this write up.
I thank God for the topic for this week which focuses on crypto world.
“PHYSICAL MONEY OR CRYPTO” Ever since crypto currency became a thing and got the attention of the world, many governments have been against it while others embraced it. What about you as a person? Do you prefer the digital form of money? Or you would rather use physical? Give reasons as well, we would love to know.
Let's define crypto currency briefly. This is a digital currency or virtual currency which is used for transaction. This currency requires the use of computers, internet or electronic wallet or electronic devices which are used for the transaction. The government in my country have been against it in fact, it was banned. This digital currency has a lot of risk involved which 70% of the citizens of a particular country may not be able to cope up with. Most of the people aren't computer literate because the country is under developed therefore accessing internet will be quite demanding and challenging. If there is no sufficient knowledge of computer, it becomes very difficult for everyone transact such currencies. Therefore it's expedient that the government suspend such activities. No internet no trading.
While the physical currency involves the use of minted coins or banknotes which is controlled centrally.
Hmmm the crypto currency is portable and can easily be compressed however personally I won't absolute depend on it because of the demerits it carries. I prefer something I can and to transact with instead of virtual. There's an adage that says seeing is believing. What you can see, touch and feel makes more meaning to me than what I keep imaginary.
Digital currency doesn't have regulatory body. Is just open therefore it fizzle out anytime unlike the physical currency which is controlled by the central bank. It controls demand and supply thereby creating an enable market for everyone.
I prefer physical currency because of its legality and acceptability by the people unlike crypto currency are generated always and any individual can invent it. Not everyone accepts it.
Physical currency is better than the crypto currency became you don't need someone to teach you unlike digital currency which requires internet facilities before any oppression could be carried out.
Thanks to everyone.
