[PDF] digimentality fear and favouring of digital currency

Digimentality 2022—Fear and favouring of digital currency is a report from Economist Impact, commissioned by Crypto.com, exploring the extent to which digital payments are trusted by consumers and what barriers may exist to basic monetary functions becoming predominantly electronic or digital.
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  • Why do people fear digital currency?

    It Isn't Legal Tender
    Cryptocurrency is currently not classified as actual legal tender by the United States government.
    This may be another of the reasons people fear cryptocurrency.
    Another reason people have to be afraid of cryptocurrency is because not all countries presently accept it.

  • What are the threats of digital currency?

    Despite the continuing turmoil in the crypto and digital-finance sectors, digital currencies are here to stay.
    This means that financial institutions must be ready to manage the associated risks, such as price volatility, fraud or money laundering, and reputational damage.

  • What do people think about digital currency?

    Some of the advantages of digital currencies are that they enable seamless transfer of value and can make transaction costs cheaper.
    Some of the disadvantages of digital currencies are that they can volatile to trade and are susceptible to hacks.

  • What do people think about digital currency?

    Using digital currency, you can complete payments much faster than current means, like ACH or wire transfers, which can take days for financial institutions to confirm a transaction.
    Cheaper international transfers.
    International currency transactions are very expensive.

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