Should digital currencies replace physical coins?
By Anish Asokan
@RevivedWarrior (3853)
India
September 12, 2024 10:46am CST
Physical coins have a long history. Apart from holding historic and cultural significance, it has mostly been metallic or an alloy. With the advent of digital currencies and payments along with inflation, physical coins are sometimes seen as inefficient due to costs involved in production.
With cheaper internet and affordable smartphones and smart devices, most people are moving to digital currencies. It is fast and convenient. Coins on other hand is accessible for all but has higher costs of productions. They can be stolen and less traceable compared to digital ones. Again , production of coins is not environmental friendly. This is not the case with the digital currencies.
So , do you believe digital currencies should replace physical coins ?
7 people like this
6 responses
@Shavkat (141906)
• Philippines
18 Sep 24
@RevivedWarrior Indeed. It is my pleasure to share my thoughts about it.
1 person likes this
@RevivedWarrior (3853)
• India
13 Sep 24
In emeregencies, physical currency has still a place in this world. Thanks for sharing!
@RevivedWarrior (3853)
• India
13 Sep 24
I did not properly consider the challenges especially in emergenices. Thanks as always , for your valuable words
@porwest (112717)
• United States
18 Sep 24
@RevivedWarrior Yeah. I mean, you never know when the power might be out from a major storm or some other natural disaster that leaves digital processing of transactions obsolete.
1 person likes this
@youless (114117)
• Guangzhou, China
13 Sep 24
Although here most people get used to use the digital currencies already, but I don't it replace the physical currencies anyway. Try to imagine if there is something wrong with the digital payment system, digital device or power off etc. Then we don't have money at all and we can even buy necessary things.
1 person likes this
@RevivedWarrior (3853)
• India
13 Sep 24
I agree, never thought of challenges and emergencies. Physical coins and currency comes very much handy in those situations .Thanks for sharing!
@cabuyogty (4487)
• Philippines
12 Sep 24
Digital currencies were still not accepted in our country but can use in making money through trading. I'm still prefering myself to spend cash when buying something at the store 
1 person likes this
@RevivedWarrior (3853)
• India
13 Sep 24
Guess then physcial coins would have to continue as digital payments and currencies .Thanks for sharing!
@2ndchances24 (12188)
• Cloverdale, Indiana
12 Sep 24
there's a lot of good & bad of either, but I'd rather have
the real thing cause I see where if it goes digital there's
a lot of other things that no 1 is thinking about & that's
how the govt can keep tabs on how much $ you spend
& on what & can limit how much you can spend & have.
1 person likes this
@RevivedWarrior (3853)
• India
13 Sep 24
Thats true, the spending limits and challenges for every government are different and perhaps minting of coins is last thing in theire minds. Thanks for sharing!
