Why it’s essential to pay in Cash

Discover the advantages of cash, including privacy, control , and taxation benefits. Explore tips for integrating cash into your life.


11/9/20236 min read

I have one simple question to start with. For how much would you sell me your financial privacy? Think about it. You say an amount, but I will immediately answer that I will not even pay for it. That you will give it to me completely free of charge. Today we’re going to talk about why it’s essential that you pay in cash. Starting today.

Cash vs. Card transactions

I don’t need to describe the current trend. Cash payment is on the decline, the number of card transactions is increasing. At the same time, it cannot be expected that this trend will break in future years. On the contrary. We can see that the number of card transactions is growing compared to cash payments.

Another trend we are observing, which is not even a trend anymore, is the so-called CBDC. It is only a matter of time before it is introduced. It is something that is being worked on in USA and various EU countries. This is already a very perfect match. And is more a question of when CBDCs will be, than if CBDCs will be.

It is a trend that is so strong that it is very obvious and that I have no doubts about. It is all the more absurd that we currently do not use a tool such as cash enough. We are willingly getting rid of it in favor of card transactions.

Today we will talk about why it is wrong. At the same time, it’s a bit of a challenge for you because starting to use cash is an awfully low investment. You can work it out, it just costs you energy and some effort. But it’s something that gives you a huge competitive advantage over people using cards.

Privacy with Cash

The first thing is privacy. The most sensitive information someone can have about you, apart from your hobbies, is your money transactions. They define absolutely everything you do, where you move, what you buy, how often, how much you spend on it.

It determines your income, and this is data that you voluntarily provide in much greater quantities than you realize. By paying with a card, you say how often you go to stores, what your average purchase is, what hours you go there, and what e-shops you shop at.

In fact, this is already very detailed, but you can also find out from e-shops what you bought there. It’s such intimate information that you actually get rid of voluntarily because it’s simply more convenient to pay with a card.

Control over Money

The next level is control of your money. To block your money in your bank account, it is neither at the level of the law nor at the level of a court decision. It can be a decision of officials and not only from one office. They are financial authorities and insurance companies. Regulator and AML processes. It is the bank itself.

At the moment when one of these entities, which you do not even control and which you do not even know about, makes a decision, it may happen that your money is not yours and you will not have much to do with it.

In short, they will block your account. The fact that someone can block yours is completely indisputable. This is the same thing that can happen to you with cash, but on a much smaller scale. Because in order to take your cash, they have to physically take it. Compared to blocking your card, it is a few clicks away.

You think

it’s yours Money?

If you hold cash, you have much more control over actually owning the money/currency. I’m even more surprised that even people who are into cryptocurrencies pay excessively with a card. These are things that go completely against each other. Cash is a peer-to-peer transaction tool.

Yes, we have to trust the central entity that issued it. We have to trust that it will not lose value. But, Fiat is the best shitcoin, so that’s it. Well, what’s even more absurd is that we’re getting rid of this peer-to-peer tool to get some tool that’s not peer-to-peer,. Where we have a third party that sorts the transaction for us, because it’s more convenient .

At the same time, what needs to be distinguished is cash and a claim in the bank. The only currency you own is cash. If you have money/currency in the bank, it is your claim against an institution. You have to have another huge trust in other parts of the system.

If I have money in the bank, I have to trust the bank. If I don’t trust the bank, I have to at least trust the depositor insurance company. That’s another huge level of trust that you have to put into the system you want to use. If I hold cash, the number of things I have to trust is much less.


Another aspect of why you should pay with cash is taxation. Some of you probably believe that paying taxes is a good thing, some want to pay even bigger taxes, some consider them to be theft and should not be paid at all.

But, what applies if you pay with cash is that it gives you more choice about whether the transaction will be known to the public. However, it’s some option that you give to the other side, the trader on the other side, or someone you give cash to. Whether they exercise that option is up to that particular person. Yet, you do not have this option when paying by card.

Getting into card payments and transactions is so easy that actually not paying the income that comes into your account is a real gamble. Even if you prefer card, keeping some amount of cash at all times, is of great value just for these situations that give you security.

You know that when your card expires, the terminal stops working on something connected, so you’re always able to settle the transaction. It’s something that’s a must-have, and the risk of losing $100 somewhere is much less the risk versus what options it gives you and what comfort it gives you.

Few Tips for paying Cash

Now a few tips if you decide to transform a bit into a cash alternative. It’s not ones and zeroes, it’s some shade of gray and you can only convert part of your transactions into cash. What I’ve decided for myself is that it’s important to keep some cash as a safety cushion.

Whatever it is, it is very valuable. Everyone should have some cash stashed under their invisible pillow, especially for when the banks go out of business. This can help you in many situations that you are not able to figure out in advance. Related to this is the idea that if you already have a certain cash base and some larger assets, it makes sense to diversify your investments into different areas.

If you have some gold in case you have to flee and you don’t have US dollars at the same time, it can be problematic. It is important to consider probabilities and risks. It is essential to have some euros/dollars in your possession if you are dealing with the possibility of suddenly having to leave. Only then can it be appropriate to have some gold. In summary, dollars will continue to be more valuable than gold in many cases because they are liquid and can be used quickly.

Another tip is to keep records of cash withdrawals. If you choose to withdraw cash from your bank account, you should keep records of those specific transactions. In a few years, you may lose access to your bank account, and if you don’t have records, you may be in trouble. It’s a good idea to keep your accounting in a separate folder so you can keep track of how much cash you have in your account and how you got there.


Finally, we will look at several arguments against cash payments. The most common question is: What if I lose money? Yes, it is possible, but it depends on how you take care of your finances. Cash is renewable and if you lose it, you can get it back. Hard to do that with Privacy.

Some fear being robbed. This is not a common problem in the place where I live, but may be important in other countries with higher crime rates.

Is there something more? If yes, share it in the comments.

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