Could cryto currency replace physical currency in the future time?

[Ralphjoe]

This is not a question of if or will it? It is a question of when. Most government of the world are beginning to see how to adopt the cryptocurrency into their mainstream currencies

I completely agree with you that it's not a question of if cryptocurrency will be abducted by most government of the world but it's a question of when as it is definitely going to happen.

 

[Aaron625]

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.

Transaction fees is not actually the problem since bep20 has came into existence. You can also send bitcoin bep20 wit low fees of 400-500 satoshis. Even you can send ethereum bep20 with low fees.

 

[Kayzzy3]

I completely agree with you that it's not a question of if cryptocurrency will be abducted by most government of the world but it's a question of when as it is definitely going to happen.

It is a great possibility that digital Money will replace fiat in the future, something that points to that fact is, for quite a while now, most things are going digital, payment systems, attendance at work, storage of data, processing of data and so many other things.

Money and payment systems will fully be digitalized soon.

 

[BTCBEE]

It is a great possibility that digital Money will replace fiat in the future, something that points to that fact is, for quite a while now, most things are going digital, payment systems, attendance at work, storage of data, processing of data and so many other things.

Money and payment systems will fully be digitalized soon.

yes maybe you are right that it is a great possibility to replace fiat in the future but so, in my opinion, it's not going as people are thinking because so many countries already banned it.

 

[Dagm1]

I think cryptocurrency will be replacing the physical currency because it is digital marketing

 

[BTCBEE]

I think cryptocurrency will be replacing the physical currency because it is digital marketing

physical currencies are part of a country's economic system and they create physical currencies against gold to show that how is going their economy so i don't think so.

 

[Bookwormlux]

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.

Sure, making crypto currencies replace fiat Currencies would only make things difficult for people since not everyone is knowledgeable about crypto currencies.

 

[Good-Person]

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.

I do agree with you. no matter how much a country becomes developed, I really do not think that any country will be able to replace cash with credit card or any other payment system and I do not think that we really need to replace cash with credit cards or something else right now.

 

[Sotherefore]

Transaction fees is not actually the problem since bep20 has came into existence. You can also send bitcoin bep20 wit low fees of 400-500 satoshis. Even you can send ethereum bep20 with low fees.

Well if you think that this is not the actual issue then what if I am sending bitcoins from trust wallet to exchanges then how am I going to do with that because in trust wallet there is no space for you to select which network you are sending to.

 

[Good-Person]

physical currencies are part of a country's economic system and they create physical currencies against gold to show that how is going their economy so i don't think so.

There is no need for anything else to replace cash and this will never happen very soon. I am not sure why there are many people in my country who are saying that our government will replace credit card with cash. In an undeveloped country like mine, it seems impossible.

 

[GIFTMICHAEL]

Sure, making crypto currencies replace fiat Currencies would only make things difficult for people since not everyone is knowledgeable about crypto currencies.

Hmm, no one is going to make such kind of law. Cryptocurrency is not replacing Fiat currencies. Their two, is staying on for years.

 

[Aaron625]

Well if you think that this is not the actual issue then what if I am sending bitcoins from trust wallet to exchanges then how am I going to do with that because in trust wallet there is no space for you to select which network you are sending to.

I dont personally use trust wallet to store bitcoin , yeah the bitcoin fees are high in trust wallet , but they may add bep20 network soon for btc also , there are many exchanges and wallets now supporting bep20 btc.

 

[Ralphjoe]

It is a great possibility that digital Money will replace fiat in the future, something that points to that fact is, for quite a while now, most things are going digital, payment systems, attendance at work, storage of data, processing of data and so many other things.

Money and payment systems will fully be digitalized soon.

I have never been so sure about anything in my life as I am I am so sure about the abduction of cryptocurrency by both the government and the general public in the near future because the cryptocurrency will always around.

 

[Chibson]

I think I have made a contribution to this post before but let me still add this again. It won't be possible at least for now for cryptocurrencies to replace Fiat.

 

[Sotherefore]

I dont personally use trust wallet to store bitcoin , yeah the bitcoin fees are high in trust wallet , but they may add bep20 network soon for btc also , there are many exchanges and wallets now supporting bep20 btc.

yes I do not also use trust only to store my BTC because of the high transaction fee, when this forum always pays us in bitcoins then I withdrawed it to my trust wallet and ever since then I've not been able to send it out because of high withdrawal fee.

 

[Richard92]

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.

With the fast growth and popularity that cryptocurrency is acquiring we believe that with time it will take over the physical coin and everybody will accept its transaction

 

[GIFTMICHAEL]

With the fast growth and popularity that cryptocurrency is acquiring we believe that with time it will take over the physical coin and everybody will accept its transaction

Yes, the transition is fast and furious. But it won't take off Fiat currencies entirely. But it will replace it as the top means of transaction online and offline in the next 5-10 years.

 

[Nomad]

I don't see as a replacement but I think crypto currency and fiat currency will continue to exist side be side. IN order to replace crypto currency must be acceptd as a legal tender.

 

[Shigobad2020]

I don't think so, both served their own purposes on earth. Remember Fiat currency has been long it came into existence. Replacing it with digital coin isn't possible because physical exchange will still be needed.

Like you just commented , the answer is a capital NO, crypto currency can never replace the normal currency even if its generally accepted universally as a means of payment.

 

[Aaron625]

yes I do not also use trust only to store my BTC because of the high transaction fee, when this forum always pays us in bitcoins then I withdrawed it to my trust wallet and ever since then I've not been able to send it out because of high withdrawal fee.

So the bitcoins that the forum paid you , its still in your trust wallet? Maybe the better option was to withdraw bitcoin to binance and exchange it to cheaper coins there.