Cash vs Bitcoin: Do People still prefer cash? 


Bitcoin is a cryptocurrency, maybe your question is why to use bitcoin instead of cash. Here I stated few points above to differentiate Cash vs Bitcoin. 

AtoZForex – For normal currency, it’s easy to answer, you use whatever the merchants accept. If you buy things from stores and it accepts US Dollar, then you pay US Dollar.

Cash vs Bitcoin

I know, that’s not a substantial answer. Even there’s many more shops accept Bitcoin, they are still factions. But there’s some more actually perhaps Bitcoin can do.

Capital Control

There are very few countries having capital control. i.e. there’s limitations on the amount of money you move in or out the countries. Some people who want to move money out of the countries buy bitcoins. They buy bitcoin, transfer it to foreign countries and exchange back to currencies. That’s a gray area activity in many authorities, as many countries still don’t regard Bitcoin as currency. If Bitcoin is officially started as currency, then it’s likely illegal

Hide Wealth

Bitcoin is one of the very good choices here as it’s digital currency. You can store your bitcoin even on a piece of paper or use physical wallet. Some rich people who would like to hide some part of their wealth from bank/security accounts. The Swiss bank was a good option to do it but not anymore. The common way is to put cash or valuable goods or commodities (like the art piece, gold, diamond) but those take-up spaces and you need to find safe space to accumulate them.

Easy Payments

There’s still many people in the world that don’t have bank accounts, while internet access is easier. Bitcoin permit them to pay others easier than bank transfer and credit cards for transactions.

Think we missed something? Let us know in the comments section below.

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