Nowadays, in light of technology, there are plenty of ways to exchange currency. Some believe that money will be traded by card or online applications instead of cash, while others think cash can still be useful for consumers. Personally, physical money has no room in this modern life.
On the one hand, those who expect the removal of cash out of trading method claim that online banking will take over the payment methods based on its convenience and precision. Firstly, consumers prefer tapping their card to using physical currency as it saves their time for not counting money and waiting for changes. Secondly, the probability of losing cash is higher than online payments due to avoiding counting steps, which is a possible reason for miscalculations from users and cashiers.
On the other hand, people supporting cash consider that having physical currency is easier to save money than using cards. While cards allow people to purchase and repay later, cash is a considerable method for consumers to set their limit and use what they have. Additionally, physical money is a convenient way to avoid taxes because of the traceability.
In my point of view, physical money should be removed for the development of every country. The majority of illegal labors are getting paid by cash with lower salaries, which affect the chance of getting jobs for legal workers. Moreover, crime cases like bank robbery, thief will drop significantly by the disappearance of cash.
To sum up, using cash has its own benefits. However, the disadvantages outweigh the advantages and the government will replace cash in the near future