Electronic Money vs. Physical Money

[GPAP]

in ten years all currency will be electronic. And moreover, financial sector will change dramatically in nearest several years

[Altas]

Electronic money and physical money were the same, physical cash when transacted through an digital medium it gets termed to be electronic money. Electronic money can't be cryptocurrency, because the entire thing differs from the electronic money in terms of development as well functioning.

[gabmen]

Electronic money such as Bitcoin is used for online transactions and physical money such as fiat currencies are used for offline tansactions.Bitcoin is decentralized in nature which means that government has no control on it but physical money is centralized in nature and government has full control over it .Transactions through Bitcoin are anonymous in nature but transactions  through physical money are not anonymous.There is more fluctuation in the price of Bitcoin than the price of physical money .These are some differences between electronic money and physical money.

Nice point by point definition. And you're right about all that. Thing is people keep on pitting on over the other where in reality, physical or digital, we need them both to make our lives more comfortable. Wouldn't it be better to be able to utilize both?

[aeternus]

Electronic money is convenient to use because its hassle free while physical money is very limited for the reason that you cannot bring as big amount of money as you could because in some countries authorities will start asking you questions about the money you are bringing.

This is one of the reasons bitcoin is so strong you can only bring so much money with you before having to give long explanations but with bitcoin you can have all your money with you and no one is going to ever know how much money you have unless you give that information yourself.

[stepwilli]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

bitcoin and physical money are actually no different, all can be used as a transaction tool, but bitcoin as digital money has more privileges, bitcoin can be used as one of promising investment, and is equipped with a good security system

Yes that is the point. There are so many people who just think bitcoin is same as physical money in all aspects. I must say there is no difference, as you said, but not at all. There are few factors that are more important in this comparison. And first and the most vital is security. Today, everyone goes for security and then comes the best investment source that couldn’t be provided by physical money.

[zhelis74]

We all start to use digital money starting from debit-credit cards. This was the game changer in economics.
Peole love to use debit-credit cards. When POS system distrubuted for bitcoin and altcoins then we will see that bitcoin will defeat other digital money systems.

Bitcoin is a electronic money or digital cryptocurrency created to use in online purchasing,trading,investing even in gambling.It is very safe to bring and use even it has a huge amount that the only person who has access on it security can use it or transact with it.Physical money or the fiat is convenient to use directly in buying things,but it is also dangerous ir threatening for some dubious people from steeling especially when the fiat has big amount.

Bitcoin has revolutionized the world now we can enjoy a lot of eases by using this innovation on electronic money and on top of it as compared to cash money bitcoin is more beneficial because a person invests into it and then after sometime money is multiplied and huge profit is generated thorough it and that’s the main reason people are using it and its profit rates are so impressive that people are rushing to it.

We have a different people living on every society so electronics money and physical money have both advantage and disadvantage, for those people who have a knowledge in virtual trading, investing and working online to earn virtual money then it will give them at ease. But for those people living on the society that eventually don't have a knowledge in computer, gadgets for the internet or even to touch them is they cannot afford then i think real money is the best thing for them to use.

[amaljinadasa]

when using physical money transaction bank or any other person can see the detail of transaction(eg-address,name,amount),But bitcoin transaction can not see any one.Bit coin holder can retain large amount money anyone doesnot know.

[cheann20]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

Actually it's totally different, even though its name was Cryptocurrency,we can not compare it to actual money, becuase cryptocurremcy is a degital money, like bitcoin. Bitcoin is all digital but we use our phones everyday and they are very accessible in all parts of the world

[Kurokonobasuke]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

To be honest, Bitcoin together with other digital currencies are not yet knwon to some countries and is not yet recognized as a legal currency but since there are already countries that are making it legal, maybe in the future it will be already used by most of the people. The only difference between regular and digital currencies are its market value and digital currency doesn't have a physical form.

[BingoDog]

We are living in the world that is becoming more and more digital and virtual and so it's with money. Digital or electronic money is much more convenient and easier to use but it's not available everywhere. There are still countries with poor internet infrastructure and technologies and worlds' economy still can't fully function digital. Physical money will not disappear at all, it will survive to my opinion but electronic mone will be high competitive and maybe with time majority of payment will be conducted digitaly.
Bitcoin already has very important role as a virtual money and this role with time will become even more important.

[BlueStackz]

Hi guys, I just want to know your views and opinion about the difference in Electronic Money (Bitcoin and others) and the Physical Money. Many people now a days are still confuse about the existence of the Bitcoin and how it differ from our Physical Money that we are using to buy necessity. I hope we could share and learn from each other. 

For me electronic or digital currencies are mostly to be use for investments in which electricity,internet and digital devices are must  needed so that electronic money will work, lacking one of these will make your transaction will fail unlike fiat or paper money which is a phiysical money can be easily and most conveniently to use that even children and elderly can use fiat instantly.

Both of them have equal importance as far as the use of Bitcoins is considered they are the best choice obviously in case of digital transactions.

If you have to deal with payments through the online banking system or some other dues then obviously the electronic money is needed on the other hand the physical money could be a choice for the users who have to pay urgently as if buying some grocery for your house. Hence this could be concluded that the use entirely depends upon the user.

[jonatuzc]

Obviously bitcoin is intangible money where you can spend it online or even if you are abroad while physical money has its limit because of the law on other country.
Both are good but i prefer bitcoin its much more easy to use and you dont have to worry about the hassle of having so much money in your pocket.

Yes, as now the world is modern so people use digital money rather than paper money for many purposes because they consider it more easy and reliable than paper money. Both have their importance. Neither digital money can be fully replaced by paper money nor paper money can be fully replaced by digital money.

Digital money can be used in daily life but it will be very hard to buy each and every thing means big and small to buy with it so in this case paper money has its own importance.

[aleksabat]

I live in China and even old people use electronic money. No one uses papers. So what do you think about the future?

[BitcoinDiamond]

Some of my work is still paid in cash and no joke it is just left in a drawer at my house. The banks are too long of a distance away to go and deposit. It is time consuming and electronic is the only way it is going.

Not only that but banks have roughly 10% (if that) of hard cash to what they claim they own.

[Activitycoin]

in physical money you can see the  physic you can keep it on box storage or safety box, but it can steal easily, it can broke if you spill by liquid or something. but in crypto it cant broke by wind, water, fire. it can broke if internet down and some hackers attack the server. so what is the best? for me no one is the best, because both of them have the advantage and disadvantage

Actually both of them are currency but one of them is digital currency and second one is a paper currency and bitcoin is also with high price than any other currency so I will prefer bitcoin instead of any other currency bitcoin is a very good source of income as well and you can learn a lot of things here because bitcoin is always trying to help us.

[illnino]

The greatest advantage of electronic money is the extremely low cost of transactions, especially internal ones. Another cool profit of cryptocurrency is the anonymity, and also a very simple entry into the system.
You shouldn’t go to the bank, sign any contracts, provide documents, etc.

[fasdorcas]

Electronic money is the future fiat is extinct already....

Bitcoin is developing day by day and it can replace the paper money even in our daily routine. Still people are using bitcoin for online shopping rather than paper money because its payment procedure is very easy than that of the paper money.

After all paper money also have some functions in our daily life which are impossible for bitcoin to replace them, which means both are having the same value in future.

[StarofBTC]

Physical money today is accounted digitally so it is already electronic money anyways we just use paper money for physical day to day in person transactions. Bitcoin is all digital but we use our phones everyday and they are very accessible in all parts of the world so all that matters is the software they download is good and reliable and that is what Bitcoiners are providing.

So both the electronic and physical money have their own importance in world of finance and none of them could be completely eradicated form the world because it would cause a serious disturbance in money distribution as well as payment methods.

Physical money is used mostly by the people who have no access to the web at all and also have little knowledge about the electronic assets .on the other hand digital currencies are taking over the market gradually as they are easiest method for transacting big amounts without tax and with safety.

[Wilfrer]

I think that at the present time material money is still needed and it plays an important role in the everyday life of each person. We can hardly replace them with electronic money right now. However, the world is growing, more and more modern technology will help the electronic money grow, it will solve many problems in the future such as: fast payment, anti-theft, self by transactions, global transactions, etc. There are many reasons to make electronic money grow

[Osarman]

according to my opinon now world is developing very fast and people have very less time because people became very busy so i will prefer electronic money as compare to physical money because electronic money system is very fast and secure and easily transferable to any country.

If we make a comparison of electronic money and physical money and that too in the 21st century, then we’ll conclude this thing that people are showing lot more interest in electronic money as compared to that of physical money.

The only reason which is making electronic money lot more feasible than that of regular money is that it is not only helping the people in fulfilling their daily based needs, but it is also helping them in making money.