Aside From Crypto, Cash, Credit/Debit card
Do you use any sort of E-wallet? If yes which country are you from and why do you use it instead of using Visa/MasterCard?
Do you guys think that Crypto and E-wallet posses the same entity and function except one is backed by blockchain one is not?
Kindly share your opinion on if you are more towards Cash, Debit Card/Credit card, E-wallet or Crypto and why
Bitcoin has had a volatile journey since it was launched in 2009, attracting attention among conventional investors as well as the black market. Regulators and policy makers are also following Bitcoin, raising the occasional eyebrow as they evaluate Bitcoin’s risks and benefits and how to regulate this little understood virtual currency. Some media reports have confused Bitcoin with more popular electronic money (e-money) schemes used in many low-income countries to reach the unbanked. But the two are markedly different and should not be conflated. This Brief provides information about Bitcoin and contrasts Bitcoin with e-money to avoid alarm about the former to the detriment of the latter.
Differences of the E-wallet and Crypto:
Accessibility: Bitcoin is largely limited to internet connection, while the e-wallet is Access to electronic devices such as mobile phones, and an agent network.
Value: Bitcoin is determined by supply and demand, and trust in the system while e-money is equal to amount of fiat currency exchanged into electronic form.
Customer ID: Bitcoin anonymous while e-wallet financial action task force standards apply for customer identification (though such standards permit simplified measures for lower risk financial products).
Production: Bitcoin is mathematically generated ("mined") by peer network while e-wallet is digitally issued against receipt of equal value of fiat currency of central authority.
Issuer: Bitcoin community of developers, called "miners", while e-wallet legally established e-money issuer.
Regulator or Oversight: Bitcoin none, though regulators are currently exploring, while the e-money regulates by central authority, typically central bank.