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IELTS writing task 2 online course

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  1. General Overview

    General information about IELTS Writing Task 2
  2. Types of essay in IELTS writing task 2
  3. Main topics of IELTS essay
  4. How to generate ideas on IELTS Writing Task 2
  5. How to Write Examples in IELTS Writing Task 2?
  6. How Many Paragraphs Should I Write in IELTS Essay?
  7. How many points or examples should I write in an IELTS essay?
  8. How to Write a Conclusion on IELTS Writing Task 2?
  9. Where to Take Notes in IELTS Writing Task 2?
  10. How to Manage Time on IELTS Writing Task 2?
  11. Tips for preparing for IELTS essay writing task 2
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  27. Nowadays more people are living by themselves IELTS Essay
  28. Modern technology has made shopping easier IELTS Essay
  29. Tourists visiting places where conditions are difficult IELTS Essay
  30. Online currencies have become more common IELTS Essay
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Lesson 30 of 32
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Online currencies have become more common IELTS Essay

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

In this lesson, you will find recent IELTS writing task 2 essay and band 9 answer to “Online currencies have become more common in recent years IELTS Essay

Recent IELTS writing essay task 2 asking about online currencies trending and whether is this a positive or a negative development.

You should spend about 40 minutes on this task.

Online currencies have become more common in recent years.

  • Why is this?
  • Is this a positive or negative development?

Band 9 Answer

Online currencies, such as Bitcoin and Ethereum, have become increasingly popular in recent years. There are several reasons for this trend:

One reason is the rise of e-commerce and online transactions. As more and more people shop and conduct business online, there is a greater need for secure and convenient payment methods that can be used digitally. Online currencies offer an alternative to traditional payment methods, such as credit cards and bank transfers, and can be used to make secure payments online.

Another reason is the increasing use of mobile devices and the growth of mobile payment apps. Online currencies can be easily stored and accessed on mobile devices, making them a convenient option for mobile payments.

A third reason is the increased interest in decentralized and peer-to-peer (P2P) financial systems. Online currencies are decentralized, meaning that they are not controlled by a central authority, such as a bank. This makes them appealing to those who want to avoid traditional financial institutions and to those who believe in the benefits of P2P financial systems.

Overall, the increasing popularity of online currencies is a complex and multifaceted development that has both positive and negative aspects. On the positive side, online currencies can provide a convenient and secure way to make payments online and can offer an alternative to traditional financial institutions. On the negative side, online currencies are not yet fully regulated, and there is some risk of fraud and other types of financial crime.

In conclusion, while the increasing popularity of online currencies is a significant development, it is important to carefully consider both the potential benefits and the potential risks before deciding whether or not to use them.

(277 words)

Related Vocabulary and meaning

Here is a table with the difficult vocabulary from the essay about online currencies, along with their definitions:

multifacetedhaving many different aspects or features
decentralizednot controlled by a central authority
peer-to-peerinvolving two parties interacting directly with each other without the need for an intermediary
e-commercethe buying and selling of goods and services online
regulationthe act of controlling or directing according to rule
cross-borderinvolving or taking place between different countries
financial inclusionthe provision of financial services to low-income or disadvantaged individuals or communities
financial crimeillegal or fraudulent activity that is related to financial transactions or business practices
Online currencies have become more common in recent years

More ideas to write about online currencies

Here are some additional ideas for topics that students could write about in the IELTS exam related to the previous essay about online currencies:

  1. The future of online currencies and their potential impact on traditional financial systems
  2. The regulation of online currencies and the challenges and opportunities this presents
  3. The role of online currencies in cross-border transactions and international trade
  4. The security and privacy concerns surrounding online currencies and how they are addressed
  5. The potential risks and rewards of investing in online currencies
  6. The role of online currencies in combating financial crime and promoting financial inclusion
  7. The ethical and social implications of online currencies
  8. The role of online currencies in supporting charitable and humanitarian causes
  9. The potential of online currencies to disrupt traditional financial institutions and create new business models

I hope these ideas are helpful and give you some additional ideas for topics to write about in the IELTS exam.

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