Good day everyone, its another wonderful day today and i trust we are all doing good!
We all know what money and crypto is already but i will still give it a little more explanation so as to comfort you with a proper knowledge and understanding on this article!

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MONEY

There are so many definitions of the word money as people say,
● It is a common medium of exchange which also functions as a legal tender,
● An official currency issued by a government or national/central banks.
All correct but my preferred definition of what i call money
● Anything that is acceptable as a means of exchange for goods or services.
and now,

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PHYSICAL MONEY is simply referring to coins and banknote issued by the government or banks which is acceptable as a means of immediate exchange for products and services!.
while physical money or physical cash as the name implies is a physical asset of money that allows you make physical exchanges, Cryptocurrency or crypto is the very inverse of physical cash! which could also be called digital cash or digital money!

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CRYPTOCURRENCY/CRYPTO (Digital money)

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Cryptocurrency is a digital currency in which transactions are verified and records are maintained by a decentralized system using the means of cryptography, rather than a centralized authority like the national banks or government!
crypto currency have long existed for some couple of years now since 2009 when the very first ever decentralized currency BITCOIN was first released as an open-source software. mean while, physical money had long existed for generations and like forever even till the next generation to come!

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While sharing my own contribution to this Topic i would want us to take a good look mainly at the importance and differences between physical money and digital coin.

DIFFERENCES BETWEEN PHYSICAL MONEY AND DIGITAL MONEY

PHYSICAL MONEY	DIGITAL MONEY
Physical asset which can be seen and touched	It cannot be been or touched until converted into fial
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it is a centralized means of exchange by authorities or government	It is decentralized exchange owned by a community functioning on a Blockchain
It is the quickest means of exchange for goods and services	pretty much slow due to Blockchain transactions and mode of acceptability for an exchange
Stored on a physical wallet which could be accessed anything and anyday	Requires an online wallet and mobile data for Accessibility
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Everyone accepts physical cash both old and young	it is mostly accepted by minimal number of people based on their interest
No fee's are required for trading or exchanges	Requires a little or more transaction fees to make an exchange or transaction
Mostly accepted by the government and authorities	few governments and agencies are in support of cryptocurrency
Can be used by both literates and illiterate	Mostly used by a good literates person
they are mostly regarded as stable coins due to an economic stable value or price	great fluctuations of value and price in cryptocurrency due to factors of demand and supply

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These are most of the factors headed into consideration when looking at the differences between currencies and cryptocurrency in general!
These currencies do have their advantage and disadvantages as we all know.

Looking at some advantages of physical money includes,

• Quick access and quicker transactions between traders in meeting!
• No fee requirements during a physical trading.
• Being acceptable by everyone including kids and elderly people who knows barely little or nothing about digital assets
• physical money Could be kept at any desired place of safety so as to access it anytime and any day!
• Being widely and generally acceptable in most market places or stores.
  Etc.

Disadvantage of physical money include:

• lost due to damage of the bank note or currency.
• Theft due to improper displacement.
• needs to be converted into digital assets in other to reach a farther distance on time!.

Those are some advantages and disadvantages of physical money while the that of a digital money includes,

Advantages of digital money:

• It cannot be damaged as it is in form of a software we could not touch!
• Digital currency can travel anywhere round the globe in no time!
• they are held by online digital wallets that is encrypted by a password as such, there is no tempering with your assets except by your permission or misuse!
• cryptocurrency could be a good investment as its value always seems to accumulate due to demand and supply!

Disadvantages of Digital money (crypto)

• Illiterate persons would never use a digital currency on their own!
• lost of a passphrase on some crypto wallet's is a complete loss of digital assets.
• As it is a good form for investors so it can also be a complete lost due to dumping of value!

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My opinion and Conclusion

Thefts, fraud and mischiefs are all the greatest problems of every currency in the world today.
But never the less, taking appropriate precautions and knowing your safety first and taking measures to secure your assets is what you need before investing, trading or saving up your money!
I surely belief with these few points of mine you do have a clear and attractive knowledge about a physical and a digital money.
And as for my opinion,it doesn't really matter where you choose to make your transactions, payment for good's and services or trade your money but What matters the most is your safety first, then your knowledge and comfort in what ever category you wish to handle your money before transacting, saving, trading or investing them!
Stick to what you know and what you are comfortable with!
Thank you for reading!

Protokkol ✍️

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