How to Explore the Advantages and Disadvantages of Electronic Cash

How to Explore the Advantages and Disadvantages of Electronic Cash

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Step 1

Think about the advantages and disadvantages of electronic cash when it comes to the time aspect. Although it doesn't take a ton of time to write a check or pay with money and wait for change, it does take longer than a simple debit or credit card transaction. If you hate waiting in lines at the grocery store, this might help things along.

Step 2

Consider the safety of your finances. In general, the advantages and disadvantages of electronic cash lean in the direction of safe when it comes to E-money. There is less chance of someone stealing your wallet and using your money because cash is unmarked. Credit and debit cards, on the other hand have names and PIN codes. Of course, if someone actually does hack your account, however, a lot more money is at stake.

Step 3

Turn your mind towards the amount of money it would take to provide everyone with the equipment necessary for an entirely E-money system. Every single individual would have to have access to this equipment, or they would be broke. Something like this is so overwhelming to think about, it belongs in the advantages and disadvantages of electronic cash category.

Step 4

Consider how people get into financial troubles by overspending with their credit card. There is something much easier about swiping a card rather than giving someone physical money. Advantages and disadvantages of electronic cash also deal with the aspect that perhaps it would be too easy for people to spend. If we think there are financial problems now, think about an all E-money world.
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