Advantages and disadvantages of cryptocurency.

[Nurudeen]

The major advantage of crypto currency exchange Business is that it can bring quick returns in the shortest period of time while the major disadvantage of the crypto currency exchange Business is that it can make Investors lose their money if they don't have good strategy for the business and know how it works

 

[Usama Iqbal]

I think crptyo currency has many advantage and disadvantage. The advantage of crptyo currency is that It can make a person very rich in overnight . It has also disadvantage if someone invest in crptyo currency he can also face lose . Because crptyo currency has not stable it remains increase and decrease.

 

[Abbas ali]

Advantages of Cryptocurrency :

• Protection from inflation – Inflation has caused many currencies to get their value declined with time. ...
• Self-governed and managed – ...
• Secure and private – ...
• Currency exchanges can be done easily – ...
• Decentralized – ...
• Cost-effective mode of transaction – ...
• A fast way to transfer funds –
• What are the disadvantages of cryptocurrencies?
  • Drawback #1: Scalability.
  • Drawback #2: Cybersecurity issues.
  • Drawback #3: Price volatility and lack of inherent value.
  • Drawback #4: Regulations.
  • The takeaway:

 

[Ehizzy1]

Crypto currency have a lot of advantage like for instance it could be used for payment of goods and services , and it could help to create more employment opportunity and so on ,,while the disadvantage are it can be used by scammers and hackers to scam people due to the anonymity level

 

[Shahid Abbas]

A cryptocurrency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in the form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.
Please share its advantages and disadvantages.

I think cryptocurrency does not have disadvantages if we understand correctly its benefit is more, if you go into it with more planning, then we will get the benefit, if we do not plan then we will see its disadvantages.

 

[Rashid]

There is a lot of advantages in crypto currency. If you invest there it will surely be doubled in 2 years or so. It gives you almost 2 3 dollars profit daily if you invest at least $50. But it's disadvantage is it's value doesn't remain stable. But now we should invest there , hope so its price will increase now.

 

[WhiteHouse]

Stock market cycle is around 10 years yet in crypto everything occurs at high speed and it's cycle is around 7 days which implies you can get more cash-flow in seven days than in 10 years.

Incredible source of easy revenue.(passive Income)

In the event that you have the correct information and tolerance , it's to a greater degree a making easy money plot for you.

 

[idhans]

A cryptocurrency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in the form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.
Please share its advantages and disadvantages.

A cryptocurrency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in the form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.
Please share its advantages and disadvantages.

The challenge with cryptocurrency is that when you buy the wrong cryptocurrency, and it happened to be dumped, and then you lose money. Generally cryptocurrency investment is a very profitable Investment if you know how to go about it.

 

[Youngdee]

The advantages of Cryptocurrency is they are very easy to use unlike opening a simple bank account where you will be asked for several documents if there are any mistakes in documents then they refuse to open an account, also accessing your funds in different geographical location is a little bit hard. Secondly Decentralization, this means that the central authority has no power to dictate rules for owners of coins. And even if some part of the network goes offline, the payment system will continue to operate stably. Thirdly Low operation cost, transferring money by using any other online forum or bank gateway is expensive as they levy considerable fees for the transaction. Despite all these advantages Crypto investments involves high risk because of its volatile nature and terrorist and other illegal activity financings, lack of a central issuer, which means that there is no legal formal entity to guaranty in case of any bankruptcy.

 

[Sheyemanu]

Cryptocurrency has it's advantages and at the same time disadvantages. Investing in cryptocurrency can make you a lot of miney over a stipulated time provided the coin rises in value, and at the same time if the coin loses value you lose money at the same rate the coin loses value, so you have to be careful while investing in cryptocurrency

 

[ranaabubakar263]

Coryptocurrency is a digital currency and in order to invest in it, one must first gain experience so that he can benefit by investing in it if he wants to invest more in it then first gain full knowledge. If you don't do the best you can, it can give you loss.

 

[Oche Diligence]

Advantage of crytopcurrency
1. Inflation has caused many currencies to get their value declined with time. Almost every cryptocurrency, at the time of its launch, is released with a fixed amount.
2. Secure and private.
been a major concern for cryptocurrencies.
3. Currency exchange can be done easily.
Disadvantage of Crypto currency
1. Can be use for illegal transaction.
2. Decentralized but still operated by some organization.

 

[Sake]

Advantages are it's really helpful it gives us more earning opportunities there's a lot of options that can save you a lot of money of transactions.
Disadvantages are security.
You won't be able to do anything if you mistakenly sent your coins to wrong address. No support witll help you with your failed transaction.

 

[Adegbindin Abdullahi]

Cryptocurrency has a better security unlike traditional payment like cash and credit cards. cryptocurrency is digital and encrypt,you can't be ripped off in a transaction like you can be in legal payment, the disadvantages is that since the privacy and security of cryptocurrency is high, it is hard for the government to track down a user by it wallet

 

[Atif3786]

In recent years, digital currencies have been gaining traction, and despite the fluctuations in the value of bitcoin and other cryptocurrencies, more and more people start seeing cryptocurrency as a viable investment option. For example, Bitcoin, which is the most popular cryptocurrency, has taken over the digital currency market, and some of the largest businesses around the globe, including Microsoft, Overstock, and AT&T, now accept it as a method of payment.

 

[Chizfab]

So far so good, Cryptocurrency has served us it's purpose and still is. We have enjoyed the benefits of Cryptocurrency as a worldwide means of payment which supports all countries across the world. The disadvantages are few but the painful one is the fact that once you pay into a wrong coin, it can never be reversed, thereby losing all without traces.

Post automatically merged: Feb 2, 2021

So far so good, Cryptocurrency has served us it's purpose and still is. We have enjoyed the benefits of Cryptocurrency as a worldwide means of payment which supports all countries across the world. The disadvantages are few but the painful one is the fact that once you pay into a wrong coin, it can never be reversed, thereby losing all without traces.

 

[Shahzaib37]

A cryptocurrency is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in the form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.
Please share its advantages and disadvantages.

I think cryptocurrency have more advantage as cryptocurrency is important to use now day cryptocurrency not more know people but it is very important for use

 

[LaylaG]

I don't see any serious disadvantages of cryptocurrency in this world the only disadvantage is that when you are doing online transaction with cryptocurrency there is a high level of scammers that can scam you when you sent out your cryptocurrency to buy a particular product or service.

Post automatically merged: Feb 2, 2021

I don't see any serious disadvantages of cryptocurrency in this world the only disadvantage is that when you are doing online transaction with cryptocurrency there is a high level of scammers that can scam you when you sent out your cryptocurrency to buy a particular product or service.

 

[Damscooguns73]

Concerning the advantages and disadvantages of cryptocurrency. Well, the coming of cryptocurrency into our present world has been to lot of people and probably a curse or problem for few. Cryptocurrency has given the people the chance to make money in some period of time of investment and also has allowed transactions been made easy but the disadvantage I feel it is about insecurity, non refundable of wrong transactions and high transaction fee

 

[Judee201]

Most cryptocurrencies are hardwired for scarcity – the source code specifies how many units can ever exist. In this way, cryptocurrencies are more like precious metals than fiat currencies. Like precious metals, they may offer inflation protection unavailable to fiat currency users.

LACK OF REGULATION FACILITATES BLACK MARKET ACTIVITY