The Debates (no.10) why cryptocurrencies is better than flat currencies
Cryptocurrencies better than flat currencies |
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I'm in support of the opinion that says cryptocurrencies is better than flat currencies with the few point of mind
Before going intensively on my reason I will make a brief analysis and definitions on what is cryptocurrencies and flat currencies.
Cryptocurrencies is a digital currency accepted as a medium or payment, cryptocurrencies serves as currency and a virtual accounting method/pattern. It also aid in payment, transactions directly to another through virtual system
Flat currencies on the other hand is a government issue form and it's also accepted as a mean of transactions and payments
They both serves as money (ie as legal tender) as both is use for payment process.
Why cryptocurrencies is better than flat currencies |
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Inflation rate and fixed value |
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In these western African like Nigeria they is high Inflation rate you will realize the price of good are increasing cryptocurrencies also increase following up the high inflation rate cryptocurrency rotate along the line of inflation, when they is an increase in the cost of commodity, they is also an increase in the digital currency thereby causes efficient and affordable transactions of good and services. When they is an increase in the digital currency it give more convenient room for transactions to proceed. On the other hand the flat currency do meet up the inflate rate as more of this currency can not afford some of the commodity, good and services.
It's well worthy of note that cryptocurrencies is not fixed as it derived it value from the block chain, on the other hand the flat currencies is fixed and doesn't not increase to meet up with the increase price of commodity.
Convenience and Time Saving |
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Using cryptocurrency for purchasing market is always very convenient as it requires a particular location like the house and make payment of whatsoever you need like the e-commerce system of operation and this also is time saving as they will be no need of moving to the location to pay for goods and services unlike the flat currency that is stressing.
Exchange |
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The exchange process is very accessible and quick unlike the flat currency that will take time for exchange to be successful
Backup |
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Cryptocurrencies is backup with tangible asset like gold silver etc. It can use in place of cryptocurrency but in flat currency they is no backups
Cost |
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Cryptocurrencies reduce cost as it will be a direct process, flat currencies especially in this part of the country where you use money to buy money, you need extras money to actualize as it will need extra money to access currency which you will use for payment.
Conclusion |
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Cryptocurrencies should be subscribe to as it will be the world leading payment and transaction process, I believed with this few point of mind you will be convince of my opinion.
I'm inviting
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Hello dear friend, welcome to our "Steem Fashion & Style" community. We are really happy to see your excellent publication. We always support such quality and plagiarism-free publications. We look forward to more such publications from you. Best wishes to you from our community.
That's an interesting perspective. Cryptocurrencies have definitely gained a lot of attention in recent years. They offer a decentralized and secure way to make payments and transactions. Some people believe that cryptocurrencies have the potential to become the leading payment method worldwide. It's always good to consider different viewpoints and do your own research to form your own opinion.
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