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Essay About Digital Money

1399 Words6 Pages

1.0 Introduction In these days, digital money is the most popular method used for people to make investment or any business. There are many types of digital money such as Bitcoin, Forex, and also Perfect Money. Digital money is not tangible like a dollar bill or coin because it is not tangible and you only can see your money through applications or smartphones. The investments are created through the applications such as MT4 Trader, TD Ameritrade and Tradehero. Digital money will give client high profit with low risk. However, it gives many disadvantages to people especially community in Malaysia. Currently, Malaysian people are easily being tricked by others especially when it involves money. Digital money are mostly used in United States of America because they think that digital money will give high …show more content…

Because for the MGC Capital cases, it happen since 2015 but after 2 years the police take action towards the company. In my opinion, the police is not productive because time taken to solve the problems is very long even the evidence already provided by victim. 4.0 Conclusion To conclude, digital money is good for the economy to growth if the country economy is stable and balance. But if the country economy are not stable such as Malaysia, they are not preferred to used online money such as has been advised by Central Bank of Malaysia because it gives a lot of disadvantages to people or investor. If the scammer from Malaysia, the action can be taken towards the suspects, but it will be trouble if the scammer is from other country than Malaysia cannot do anything and Malaysia citizen always want to get rich in quickest way so they are exposed to the digital money fraud easily because of low level of

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