Komalavalli answered on Apr 04 2022
Advantages and disadvantage of cash
The most obvious advantage of cash payments is the restriction on what you may buy. You'll only buy products that are cheap and covered by the cash you have on hand if you don't have the buy now, pay later attitude associated with credit cards. You'll never have to wo
y about buying anything you can't afford right now this way. Cash payments also assist to reduce impulsive spending.
According to the Federal Trade Commission, credit and debit card fraud occurs on a daily basis. You secure your identity and credit by utilizing cash. You may use your card online safely as long as you take the required precautions, such as using the most up-to-date antivirus software and changing your password on a regular basis.
Purchase receipts are frequently required by customers in order to return or exchange merchandise. Many businesses may access a credit or debit card transaction by entering the buyer's card number into their system and completing the transaction; no reference information is available for cash purchases. Credit and debit card purchases are simple to trace using statements and online banking. To keep track of their financial expenditures, consumers should keep a shopping journal.
Advantages and disadvantage of digital money
The study of economics is concerned with determining the origin and value of money. Consider the many aspects of money. Although its formation and growth are sometimes unseen, it is the way by which we obtain the things we want and desire. Prior to the invention of the means of exchange, individuals traded in order to get the products and services they need.
Electronic payments enable your customers to pay for goods and services without using cash by using a credit card, cell phone, or the Internet. It provides several advantages, including time and cost savings, greater sales, and lower transaction expenses. It is, however, subject to Internet fraud and can raise the cost of doing business.
Venezuela attempted to construct himself, but Petro was unsuccessful. We shall have hy
id money if and when this revolution occurs. Cu
ently, classical cryptography may be used as an electronic payment method; however, this varies by nation. In the UK, for example, the financial-conducting agency (CFA) has determined that encryptions such as Bit coin constitute "exchange fees" that do not comply with its laws.
The lack of regulation creates a new, but not entirely new problem: money laundering. Bit coin transactions are recorded on a block chain, which is a public ledger, to help limit this risk. Transactions can never be deleted, which contributes to the creation of a transparent type of regulation.
encies particularly shine when it comes to money mobility. Gold bars, coins, and banknotes must all be moved and kept, and the more money that travels, the heavier it becomes. Crypto cu
encies, on the other hand, provide a whole new sort of payment service, with the possibility to transfer any amount without paying any costs. Paying at the point of sale is made easier and faster with debit, prepaid, and credit cards. And smart cards and other types of smart cards increase the security of these computerized transactions.
Money transfers can be made via...