It is believed that the use of diverse types of plastic currencies such as credit and debit cards has become an essential factor of most individual’s lifestyles in recent years. The concept of using banknotes and coins has almost transformed into an oblivion due to the invasion of digital replacements through online methods. In this essay, I will explore the pros and cons of replacing paper currencies with elastic alternatives.
Considering the numerous benefits of using a digital purchasing tool such as debit and credit cards; using plastic money is agreed to be highly beneficial and for an abundance of reasons. To begin with, it is more handy to make wired purchases from a variety of places all over the globe. For example, you can reside in any country and just with a click of a button, buy any sort of product from the other side of the sphere -in the most convenient way possible-. Besides, individuals could almost safely transfer a tremendous quantity of cash instantly without the burden of carrying it and therefore avoid the hazard of pickpocketing or theft exposure.
As opposed to the previously mentioned advantages, using plastic money can also be a troublesome experience due to a plethora of reasons. A networked purchaser can be a naive target for digital scams and identity theft crimes. For instance, a hacker can log into wired users’ accounts, use their identities and credentials to either obtain online items without being tracked, or use the user’s information to make financial transfers to anonymous accounts without the ability of being tracked. Moreover, individuals who are slightly inexperienced when it comes to an adequate usage of technology, can be gullible targets to frauds and web-related crimes with a far-fetched possibility of acquiring their stolen funds back as a result of the harshness of targeting and tracing digital criminals through the intended authorities.
In conclusion, replacing paper currencies with plastic ones can be digested as an advantageous solution for a noticeable majority of individuals. It also can not be denied that relying entirely on using this type of financial approach can have its hazardous, – in most cases- non-reversible consequences; if not used wisely and suitably-.