There are two kinds of cryptocurrency exchanges as you could be a crypto exchanger between various crypto altcoins for people or you could trade yourself between two peers of coins like ADA or Polygon as many are doing.
Advantages and disadvantages of cryptocurency.
- Thread starter Hasan Raza
- Start date
Has crypto currency actually reduced the rate of fraudulent activities? Personally I doubt this though, my reason is cause a lot of persons now carry out illegal activities with crypto. Some weeks back a friend of mine was scammed. He brought some Bitcoin from a vendor, he asked the vendor to send before paying, which he did, only for him to find out the next day that it was a flash coin.
It is so sad to hear about ugly incident. There is no way a society will be without some bad element. Despite the fact I still believe that cryptocurrency trading and investment has a positive impact on rate of unemployment.
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That's right, the truth of the matter is that everything has its positive side and as well it's negative side also. The most important question we should ask is has it done more good than bad? If the answer is yes then we are good to go.
The problem is that some people usually see cryptocurrency as another opportunity to scam people of their hard-earned money. A similar case also happened to one of my friends too. He wanted to buy cryptocurrency from a telegram group and it did not know that he was dealing with the scammers.
That's why it's a better and safer to buy and sell from legit exchange platforms, if there is any issue, you can easily contact their customer care or go through their official site.
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Right from day one, I always ensure that I buy things from reliable source. This usually comes with a piece of mind because you can really reach out if what you buy doesn't work the way you want it or as advertised. The same thing goes for cryptocurrency because you will always have people to reach out to in case of any problem.
Advantages of cryptocurrency is that it is a decentralized system that is free of the third party influence. The disadvantages is that it could be used money laundering.
I think that the biggest advantages of cryptocurrency is that it is fully decentralized and in that sense you can be rest assured that no financial institution is going to be regulating it and as such you are fully responsible for your own money. The disadvantage is that it is not everybody that is used to the technology and its user interface.
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The crypto currency is a digital technology which could be breached and this could lead to a lot of investors losing their funds, it also provides an alternative for the known methods of performing transactions as it can be used to perform buying , selling and various trading transaction.
The advantages embedded in cryptocurrencies far outweighs the disadvantages. The disadvantages could be managed by employing proper risk management.
As a matter of fact, cryptocurrencies have got much more advantages and disadvantages. Most especially if you can exercise patience and do what is expected of you.
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One of the advantages of cryptocurrency I know, is a long term investment forum which allows you to invest for the future. One of the disadvantages is the fluctuation in the value price of cryptocurrency which makes it unstable.
The only advantage of cryptocurrency is that it's a very good way to keep and invest your money because it is a good store of value. The disadvantage is that it is a very risky business.
The only disadvantage is that it used to be used by illegal people for their transactions and activities, but the government of different countries have been able to reduce this to the very minimum level now
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There are so many advantages of cryptocurrency attached to it digital value and it very difficult to lost it value at the cost of trading and transactions. It's also a long term medium of investment that can last into the future.
The major advantages of cryptocurrency is its decentralized platform. The decentralization of the cryptocurrency is the major advantage that it has . It is out of the control of the government.
The advantages of cryptocurrencies far outweigh any disadvantages that anybody can think of and that is the major reason why people have to consider investing in cryptocurrency without thinking about any negative aspect of it at all.
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In terms of profit the advantages of cryptocurrency is very enormous but in terms of the risk the disadvantages of cryptocurrency is also very enormous.
The whole purpose for the advent of the crypto currency was to bring another alternative for trade that would give traders or users a more decentralized currency that is acceptable and would have no affiliations with the traditional fiat currency.
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