Sometimes it feels good to have money in your hand. You can feel the wrinkled bills. There’s the weight of a stack of cash, and the feeling of being important going to the bank to either drop it off or pick more up. But, there are some serious advantages to just going with the digital flow, especially when it comes to money.
Consider the five tech advantages below when it comes to using digital cash flow, including the convenience of the credit card system, the instal pay potential of something like PayPal. easier bank record keeping, built in fraud protection, and the bitcoin evolution.
The Convenience of the Credit Card System
By using the credit and debit card systems available, either as an individual consumer or a businessperson, you’re taking away a tremendous amount of hassle. No more searching for checks. No more finding the right bills in your wallet. No more dealing with change. No more having to open and close registers. No more people waiting behind you who already have their cards out. It is speed, it is convenience, and it is accuracy.
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The Instant Processing of PayPal
And as a vendor or a purchaser, it’s hard to be the instant access of PayPal. Once you’re securely logged on to their system, you hit a few buttons and ‘wham’, the deal is done. There are security protections built in as well, but even paying attention to a few basic best practices will ensure that your money is safe and digitally sound in the PayPal archives, just waiting to be either added to or subtracted from wherever cell phone or internet service is provided.
Easier Bank Record Keeping
When using cash, it can be difficult to remember how much money is going to who and why. If you’re on the digital path, it will all be in your budgeting app or on your bank statement. And then, you can even adjust those numbers as necessary for even better organization. It’s hard to argue with that!
When using digital money, banks and businesses will have various types of fraud protection. With cash, once you spend it, once it leaves your possession, that’s pretty much it. You can’t get it back if the person you give it to takes it somewhere else and disappears with it.
The Bitcoin Evolution
And finally, an interesting development in the digital money culture is the evolution of bitcoin. It’s used as a legal tender around the world now, and is not associated with gold or dollars or the exchange rate of any particular country. People who do well with it should be in a good financial situation when the sequencing ends.