Online Currencies Have Become More Common in Recent Years IELTS Writing Task 2

Online Currencies Have Become More Common in Recent Years IELTS Writing Task 2 is an essay topic that has 3 sample answers. The topic of the IELTS Writing Task 2 discusses Online Currencies Have Become More Common in Recent Years . The candidate has to talk about both views. So, to support the point, proper sentence structure, a grammatically correct approach, and reasonable explanations are necessary.

 IELTS Writing Task 2 includes an introduction, body, & conclusion to assist applicants in achieving a good score in the writing section. Candidates must go through IELTS Writing practice papers to become familiar with a wide range of themes. In Globalization Studying Abroad is the Best Way to AttainWell Paid Job IELTS Writing Task 2 because the topics are broad.

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Topic: Online Currencies Have Become More Common in Recent Years. Why Is This? Is This a Positive or Negative Development?

Band 8 IELTS Essay

The slant of online monetary standards is expanding day by day in modern times. In spite of the fact that a few see this improvement as unfavorable, be that as it may, I accept it to be a positive one. This paper will articulate my bolstered idea within the looming passages sometime recently coming to a reasonable conclusion.

Various focuses underwrite my point to be positive. To begin with and preeminent, the slant of expanding online monetary forms began with the extension of the web. Presently, anybody can rapidly exchange online cash from any place to anyone by sitting in one put. This money is for the most part advantageous for those individuals who live over borders. Furthermore, it also makes it simple to do online shopping, as most companies have online wallets on their website. People consider online exchanges the least demanding way instead of keeping cash with themselves. In addition, they are being given with so numerous offers on utilizing wallets, such as free vouchers, rebates, purchase one get one offers, and so on.

Advance emphasizing it, It is additionally accommodating for bank purposes as individuals might keep a record of their budgetary exchanges online. For occasion, individuals might effectively track their installments of advances and ventures by utilizing the web on their versatile phones or tablets. Besides, online monetary forms such as Bitcoin and other crypto monetary forms can be utilized around the world, while other monetary standards are not the same. It moreover makes a difference to entrepreneurs and the open to do online trade and exchange. Worldwide businesses generally worked on online monetary standards to dodge money obstructions. On the other side, it has a few consequences, as individuals might prey on programmers. To be particular, online accounts are not considered secure, they may well be hacked by robbery and burglaries, and any extortion seems to have happened to individuals. In expansion to this, the web plays an integral role in getting to online monetary forms. It may well be challenging to get to online websites in a few areas due to weak internet associations.

In conclusion, this paper would like to repeat that although there are many negatives, such as extortion and web issues. Be that as it may, by and large, it may be a positive improvement per the previously mentioned focuses and beneficial for people. 

Band 7.5 IELTS Essay

These days we are seeing that online monetary standards have become more common than in the past; without a doubt, in my point of view this phenomenon could be a positive advancement and in this paper, I will deliver a few reasons to shed light on this thought.

Firstly, it is precious stone clear that, present-day innovation has changed our lives drastically; in fact, this breakthrough makes the utilization of notes less than in the past; in any case, this change has a few results for people, however, it has a few benefits for individuals such as controlling the energy consumption; for illustration, printing the notes features a parcel of costs in its process which online currency dosage not; as a result, in my conclusion within the modern world online cash may be a great point.

In other words, we are living in a virtual world time; as a matter of reality, advanced wallets are coming rather than ancient wallets; to demonstrate, today people make online cash like crypto cash in order to paper or metal cash; therefore, most of the advanced contracts are getting to be more common the utilize of online monetary standards is more desired; consequence, this development is great.

To recapitulate the over said focuses, in my see consideration to our unused technology world, online currencies are a positive improvement that is common in later a long time. 

Band 7 IELTS Essay

What is surprising is the recent increase in the adoption of digital currencies. This essay explores the catalysts driving the rise of cryptocurrencies and finds that this trend represents a detrimental development that is causing an increase in cybercrime and financial instability. First, digital currencies transcend geographic borders and enable instant cross-border transactions without traditional intermediation by financial institutions. This makes world trade more efficient, faster and more economical. Blockchain technology, known as the basis for many digital currencies, has enabled seamless and cost-effective remittances for migrant workers.

Furthermore, increasing accessibility enables individuals excluded from the traditional banking system to participate in economic activities, thereby reducing financial exclusion and strengthening global economic integration. For example, cryptocurrencies like Bitcoin have facilitated small-value transactions in areas where traditional banking services are limited. However, the main concern is that cybercrime and fraud may increase. This means that the mysterious nature of these currencies and the cloak of anonymity they offer can attract unscrupulous companies looking to exploit vulnerabilities in online platforms. Hacker attacks, phishing, and identity theft are on the rise, putting individuals' financial well-being at risk.

 Additionally, sudden and unpredictable fluctuations in cryptocurrency valuations can lead to financial setbacks for those unfamiliar with the complexities of digital markets. For example, the recent cryptocurrency market crash highlighted the vulnerability of online currencies to extreme volatility.

In summary, the rise of online currencies is driven by their ability to improve accessibility and overcome spatial boundaries. However, the threat of cybercrime and market instability requires careful consideration and is a pernicious trend.

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