Will cryptocurrency successfully replaced the physical money you and I use today.

[TOZZIBLINKZ]

There is literally a lot of advantage and benefits why an individual should keep his money in cryptocurrency , some of this benefit probably includes the fact that there is absolutely no restriction as to what amount of coin tokens that you are requested or restricted to keep in a particular cryptocurrency wallet . But if we were to save our money in a bank institution there is absolutely a restriction to how much money that we can save in a particular bank account and even if we want to expand we have to go to the bank and make some enquiries .

So with this analysis someone could readily say that keeping money int cryptocurrency is way more flexible , stress-free , and very superior than to keep money in real cash . So does not mean that cryptocurrency have the potential to successfully replaced the physical money we use today . Personally I do not think and believe so , this is probably because human beings have been acquainted to the use of money for a long time ago and our aged people or aged ones cannot be acquainted to the use of cryptocurrency because it could sound complicated for them , because of this I do not believe that cryptocurrency we want to successfully replace the physical money you and I are using today .

 

[prathambagde]

At the beginning of the cryptocurrency boom, Bitcoin seemed to be the unquestioned leader. Up until early this year, Bitcoin accounted for the vast majority of the industry’s market capitalization; then, in a span of just weeks, Ethereum, Ripple, and other currencies rushed to catch up. While Bitcoin is still in the lead, the rapid turnover in the industry has some analysts debating if cryptocurrencies are actually currencies. Some are predicting that even bigger changes could be ahead. Among them? The idea that cryptocurrencies could come to replace cash entirely.

Best Crypto starter kit for BEGINNERS CONTACT - prathamcrypto12 ( AT the rate ) gmail

 

[Suba]

In my opinion, it is impossible for cryptocurrency to replace physical money (fiat money). As is the case in El Salvador, even though crypto has been recognized as a legal tender it is by no means a substitute for physical money. USD is also still valid as a means of payment in El Salvador. Moreover, the current situation is that many governments are tightening cryptocurrency regulations and also implementing high tax rates so that it will be difficult for retail crypto traders.

 

[CALVINDOL]

In today's world a lot of people today believe that cryptocurrency is the future and it is way more better to make money in cryptocurrency how to store your money in cryptocurrency which usually have the potential to increase in value or decrease in value rather than holding or keeping your money in the physical cash that you and I used today to purchase something that we desire possibly an asset or property . It is unthinkable for an individual to think that cryptocurrency can successfully replace money this is absolutely not true because the use of money is widely known by a good number of persons and not everyone know how to use cryptocurrency for buying and selling possibly our agent and old parents .

There is absolutely no way that cryptocurrency can replace the physical money you are I used today because money is as old as mankind . But cryptocurrency is just a newly introduced idea of business transaction and not everyone is actually getting acquainted to it probably because it is kind of complicated and requires an individual to own a smartphone or a laptop device so as to successfully transfer crypto to another individual .

 

[Good-Guy]

I think that cryptocurrencies have yet to gain much exposure and many people on the Earth are kind of people who do not have enough knowledge about cryptocurrencies. In fact, many people in the developed countries also do not have much knowledge about cryptocurrencies. I think majority of these people are elderly people who are too old and they do not know how cryptocurrencies work. This is why they rely on traditional payment options such as cash and bank checks in order to pay people and get paid. This is also one of the main reasons why I believe that cryptocurrencies will take far much more time to become popular in developing countries because if they are not that popular in developed countries, then how can we expect cryptocurrencies to be used as a regular payment method in developing nations?

Cryptocurrencies are just 14 years old and I do not think that 14 years is a very long period of time for digital assets to become popular. I remember there was a time when digital apps and banking system was not a popular way to get paid or pay people, but now online applications and payment processor are being used by many local people. So to summarize this all, I can say that cryptocurrencies will take much more time to become more popular.

 

[eldavis]

I might be wrong though but personally I feel it is Impossible for crypto currency to replace the flat currency based on certain reasons. First and foremost, crypto currency is not in control of any government, meaning if it should replace flat currency, the government would no longer have the power to control money as a whole and how it is being regulated. They would also have no way to trace how money are spent.

 

[btaliat]

It is only an utopian thought that crypto may replace fiat currency. The two of them are not in any way perform the same function or even have the same usage. They can not be substituted for each other. Even some countries that have accepted crypto as their currency like El Salvador still spend USD.

The reasons why crypto cannot replace fiat currency include the following.

The literacy level of people is the number factor. It is not everybody that stays in a country that knows the importance of crypto. This alone is a turn off to the illeterate. This category of people do find it easy to understand how crypto works.

The volatility of crypto coins will not make it to be adopted. Crypto is not stable. The volatility of the coin will make it so difficult For it value to be quantified. This is a great problem because no one know the next mone of the price of coins. It can soar up and it can go down at will.

These facts have made some governments to rather embrsce another form of digital currency but which is not volatile and not running on Blockchain network, it is called CBDC.

 

[Mika]

Sea shells, stones, foods, animals, and all kinds of goods that had value to the buyer were the first kind of money used by human civilization. With the discovery of metals, people started using metal pieces for money. When people invented minting technology, they started mining coins and used them as money. This kind of money existed for a long time until paper money came into existence. Paper money did not replace coins entirely. Governments still mint coins and people still use coins, but paper money is the primary currency. Then came the plastic money (Debit Cards, Credit Cards), plastic money has not replaced paper money entirely but more people prefer to carry cards instead of a stack of cash. Then came the digital money (without the involvement of paper money or plastic money), you can send, receive, and pay digitally (PayPal is digital money, QR payment is a digital transaction). Digital money has not replaced plastic money entirely. Now, cryptocurrency is taking the world by storm. It is being used s a preferred payment system in many countries. Just like its precessadors. cryptocurrencies will not replace physical money but I see the use of crypto getting bigger and bigger.

 

[Sotherefore]

Well I always believe this in the past , that it will be possible for cryptocurrency to replace the physical currency but now I do not believe in such anymore because it's won't be possible. In the economic sector of the world there are a lot of things that are being put into consideration when thinking of making a new currency legal. Any currency that must be made legal must always be a a stable currency because . This will help people to have the value of their assets for a long time and will benefit people who also consider to invest in it for long-term purposes..

In a country like El Salvador they have made cryptocurrency to be legal in the country , I don't really think the citizen of the country is really interested to trade and transact with cryptocurrency as a normal mode for payment of goods and services because of the high volatility in cryptocurrency.

Right now we are in the bearish market and what of those people who had cryptocurrency in their arsenal sometimes ago hoping to use it during this period of Time , by now the value of his or her assets must have reduced by almost 50%.

 

[bobs]

The literacy level of people is the number factor. It is not everybody that stays in a country that knows the importance of crypto. This alone is a turn off to the illeterate. This category of people do find it easy to understand how crypto works.