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 human beings’ lifestyles in recent years. The concept of using banknotes and coins has almost transformed into oblivion due to the invasion of digital replacements through online methods. In this essay, I will explore the pros and cons of substituting 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 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, therefore avoiding the hazard of pick-pocketing or theft exposure.
As opposed to the previously mentioned advantages, using plastic money can also be a troublesome experience for a plethora of reasons. Clearly, a networked purchaser could be a naive, gullible 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 card holder’s information to make financial transfers to anonymous accounts without the ability of being traced through the intended authorities.
In conclusion, replacing paper currencies with molded ones can be considered as an advantageous solution for a noticeable amount of individuals. In contrast, relying entirely on this financial approach can have its hazardous,non-reversible consequences if not used wisely and suitably.