Are there still advantages of having cash? The answer to this question is yes! Cash is still very much alive, even in a Bitcoin world, and it’s not going away anytime soon.
In this article, we will offer you several advantages of cash transactions which will show you why cash is here to stay.
Cash Is Fast
Let’s face it, the number one reason why cash is still a popular form of currency in the world is because it’s still one of the fastest forms of currency available today.
With cash, all a consumer must do is pay the merchant and then the transaction is finished. Compare this to debit cards that require a PIN code, and the transaction isn’t processed until the transaction clears the consumer’s retailer’s merchant account.
Retailers still love cash, especially on days when Internet networks are down, or the power goes out because consumers can still purchase the items that they want without having to wait until they can use their debit/credit card to pay.
Cash Is Easy to Budget
Another ideal reason why cash is still king in 2022 is that it’s easy to budget since there are no additional transaction fees involved with cash being used. The customer pays for the item that they need with cash, without having to add an additional $2.00 or more just to cover the ATM transaction fee.
Cash is also easy for children to use and budget as well because there’s nothing easier for them to work with the cash that they have in their wallet, purse, or bank account compared to a digital currency which often included fees when it’s withdrawn from Bitcoin ATM’s.
Cash Is Still Private
Most important of all, in 2022 cash is still private and it can’t be hacked and stolen out of a digital wallet.
Even though digital currency is rising in the 2020s, the reality is that there will always be consumers who prefer to use cash for daily purchases compared to debit, credit, or other forms of digital currency.
Will cash be going away anytime soon? With the dollar continuing to reign as the world’s reserve currency, it’s unlikely that we will see the end of cash soon, and this is one reason why cash should still be an accepted form of currency in retail and business world.
Also see: ATM Suppliers Directory