Could cryto currency replace physical currency in the future time?

[Sotherefore]

This will not likely to be possible because cryptocurrency transaction have high transaction fee and as a result of this cryptocurrency cannot replace the physical currency except there is a way in which there will be no or little transaction fee that will be associated with cryptocurrency.

 

[tyrim88]

The acceptance of cryptocurency has really made the international trade very easy and convinient for business persons.But i don't think it can replace fiat currency,because home countries would still want to have some control over their own currency.

 

[ahmedo24]

The acceptance of cryptocurency has really made the international trade very easy and convinient for business persons.But i don't think it can replace fiat currency,because home countries would still want to have some control over their own currency.

It can't replace Fiat currency because of people that does physical transactions but obviously it has made cross-border payments much easier and convenient.

 

[Good-Person]

Fiat currencies are the foundation on which all crypto currencies are standing on. The both cannot do without each other and so there's no need thinking one would replace the other.

Well, there are many other reasons why crypto might not replace fiat currency any sooner. Credit cards and debit cards were also thought to replace cash. However, we know that this did not happen, so I guess it will take a very long time for crypto to replace fiat currencies.

 

[Bookwormlux]

Well, there are many other reasons why crypto might not replace fiat currency any sooner. Credit cards and debit cards were also thought to replace cash. However, we know that this did not happen, so I guess it will take a very long time for crypto to replace fiat currencies.

Even after a long time, it still won't happen. People just speculate these things because they don't understand the fact that not everyone believes in Crypto Currencies.

 

[Sotherefore]

For this thing to happen there will be a cryptocurrency that will be invented in to the world that will not have any transaction fee, if such cryptocurrency does not exist there is no possibility of using cryptocurrency for normal mode of payment of goods and services.

 

[Kunkun]

Well not entirely though but their usage and efficiency could become equal as times goes on but I don't see crypto overtaking fiat completely in the future

 

[Trexxxy]

If technological advancements allows the complete replacement of the traditional currencies with digital currency I think cryptocurrency will play a huge part in that.

 

[Good-Person]

Even after a long time, it still won't happen. People just speculate these things because they don't understand the fact that not everyone believes in Crypto Currencies.

What's quite strange is the fact that one bank employee was telling me that cash will soon be replaced by credit cards. i do not see this happening any soon because this has not happened even in developed countries like U.S. I am sure many stores in the U.S do accept cash as a payment method, don't they? So how can credit card replace cash in my undeveloped country?

 

[GIFTMICHAEL]

I just know that, crypto can't replace Fiat currencies no matter what. Both will stuck around cos they have different functions, roles to play.

 

[Ub40]

Actually, bitcoin has really become very popular for a long time now. It is the most used for online and even offline transactions than other coins. Personally, I just can't expressly say that bitcoin will replace the fiat money or not. It could be possible but I am not sure. I will just be watching to see what happens between Crypto and fiat money in years to come. That is my opinion.

 

[Bookwormlux]

What's quite strange is the fact that one bank employee was telling me that cash will soon be replaced by credit cards. i do not see this happening any soon because this has not happened even in developed countries like U.S. I am sure many stores in the U.S do accept cash as a payment method, don't they? So how can credit card replace cash in my undeveloped country?

Clearly, the bank employee was saying that out of obvious ignorance and only people who are not educated would take him serious as something like that cannot happen.

 

[Good-Person]

Clearly, the bank employee was saying that out of obvious ignorance and only people who are not educated would take him serious as something like that cannot happen.

I am from Pakistan and the government in here is now taking serious actions to minimize corruption and this is why they are now introducing new laws. However, I do not think that the government in here will ever be able to replace cash with credit cards. Such a thing is not even happening in developed countries.

 

[Bookwormlux]

I am from Pakistan and the government in here is now taking serious actions to minimize corruption and this is why they are now introducing new laws. However, I do not think that the government in here will ever be able to replace cash with credit cards. Such a thing is not even happening in developed countries.

No matter what, credit cards won't be back to replace cash. There are people who do not know how to use credit cards and they have to be considered.

 

[nimzy]

I don't really believe that cryptocurrency can really do replace the use of physical or fiat money or currency in the real world this is because even with the high rate of influence that the cryptocurrency is getting over the fiat money it still has it value and most consideration then the cryptocurrency money.

 

[Josemendez]

I don't see the possibility of any cryptocurrency replacing Fiat currency. The only possible one is cbdc of some countries which is just the digital version of their Fiat currency

 

[Niftyyem]

Maybe not cryptocurrencies but some form of digital currency may replace fiat in the future. A currency with little to no volatility but definitely virtual in nature.

 

[Alexandoy]

For a currency to be legitimate it needs to be regulated by the government which is the central bank in this case. Crypto currency is a commodity so it is like bartering when you use crypto to pay for your purchases. The issue with that kind of transaction is the stability of the value. When crypto price is volatile it can affect the business if they accept crypto payments.

 

[Richard92]

For a currency to be legitimate it needs to be regulated by the government which is the central bank in this case. Crypto currency is a commodity so it is like bartering when you use crypto to pay for your purchases. The issue with that kind of transaction is the stability of the value. When crypto price is volatile it can affect the business if they accept crypto payments.

That is the dream of the founder of cryptocurrency they have this vision that cryptocurrency will replace the physical currency in future and will a development and acceptance of critical is here I think that vision will be achieved in future.

 

[GIFTMICHAEL]

Its not possible to replace physical currency (Fiat). Fiat have been in existence for years now, replacing it with crypto won't be possible cos more people are well accustomed using it than crypto.