Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,196,533 members, 7,961,686 topics. Date: Sunday, 29 September 2024 at 11:22 AM

Do You Think Paper Money Will Be Replaced By Crypto-currencies In Time? - Education - Nairaland

Nairaland Forum / Nairaland / General / Education / Do You Think Paper Money Will Be Replaced By Crypto-currencies In Time? (265 Views)

You don't eat your plenty paper money / Five Highest Currencies In The World 2020 / Most Valuable Currencies In Africa (see Nigeria's Position) (2) (3) (4)

(1) (Reply)

Do You Think Paper Money Will Be Replaced By Crypto-currencies In Time? by ProsperChild: 2:52am On Jan 06, 2019
How soon this mass adoption will commence?Cryptocurrencies over traditional currrencies.


Here are just few examples to mention n advantages of crypto over other traditional currencies

Cryptocurrency is better in several ways:
-Speed: Cryptocurrencies offer much faster speeds than, say, a wire transfer. These days, many cryptocurrencies offer instant or near instant transactions, which are far superior to 24–48 hours it can usually take with fiat. I have seen other posters mention that faster isn’t necessarily better, if you sent to the wrong address. New cryptocurrencies, such as Divi, allow users to associate each wallet’s public key with a unique name of their choice, which can be used by others to send funds or connect with them, instead of the long strings of random characters that are a wallet’s “public key” and are considered a big barrier of entry to the world of cryptocurrencies today. There will also be pin-code confirmation features, and other features to make it more secure and friendly.
-No middleman and completely trustless and decentralized. You don’t need to trust the bank to execute it correctly or at all(many errors do happen), it is entirely peer to peer.
-Can be used everywhere, by anyone, anytime…even if you don’t have a bank account or are sending to someone who doesn’t have a bank account.
-More secure, especially due to the decentralized/trustless factor. Digital ledger technology is virtually impregnable by attackers. The system is so complex that the attacker has to perform multiple attacks on multiple devices at once.
-Much lower fees than fiat. Nearly free, basically.

(1) (Reply)

ASUU Strike: Disregard Resumption Notice, LASU Tells Students / Antisera For E Coli 0157 / Admission Started | Study In USA

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 8
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.