Advantages and disadvantages of cryptocurency.

[tuna89]

The rise in the value of the crypto would lead to a gain for those who currently hold such cryptos as far as they bought them at a lower price while the drop in the crypto would definitely cause a loss especially when such crypto was bought at a higher price, so definitely, the prices are unstable unlike the fiat currencies, also you need to understand a lot of factors before you buy, such as trade volume, value history, rise and fall factors and more.

 

[Adebayonle7]

Great that you have highlighted some advantages of the crypto currencies but many people do not realize how much impact these cryptos have on the market, stocks, businesses, and investments on a wide range. It might just appear to novices and first time investors as a scheme to get sudden much profit or gain overnight without too much stress but just with their money. The same thought will occur when the values of the coins drop drastically within seconds and money drops lower or so bad the investors give up on such crypto investments.

 

[Mujahid12]

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.

Cryptocurrency is a very best because on this we can become a Millionaire at night, if we take risk on it, if the risk is not is successful, then we can also become Beggar in it so its depend how much you take risk in it .

 

[btaliat]

Its advantages include secrecy in transaction. There is no need of third party like bank or even the government to know your finscils strength. Its disadvantages include, once an error is made in transactions, it can never be corrected. That's why we need to becareful while using cryptocurrencies.

 

[Mandypaul]

Since cryptocurrency is a digital currency that is accepted in almost all part of the world it is easier for anyone to carry out a transaction in wherever he is in the whole universe because cryptocurrency is a generally acceptable digital currency in almost 95% of the country's of the world, there is more advantage than disadvantage.

Post automatically merged: Feb 2, 2021

Since cryptocurrency is a digital currency that is accepted in almost all part of the world it is easier for anyone to carry out a transaction in wherever he is in the whole universe because cryptocurrency is a generally acceptable digital currency in almost 95% of the country's of the world, there is more advantage than disadvantage.

 

[Rimsha kanwal]

As a digital technology, cryptocurrencies will be subject to cybersecurity breaches, and may fall into the hands of hackers. We have already seen evidence of this, with multiple ICOs getting breached and costing investors hundreds of millions of dollars this summer alone (one of these attacks by itself resulted in the loss of $473 million). Mitigating this will require continuous upkeep of security infrastructure, but we are already seeing many players dealing with this directly, and using enhanced cybersecurity measures that go beyond those used in the traditional banking industries.

 

[singlej007]

Cryptocurrency who has come into the world financial market, has a lot of advantages and disadvantages, one of the disadvantages I really hate about cryptocurrency is that once you have done mistakes in transfer of your coin, it can't be be regain again,it has cost me to lost a lot of coin.

 

[Janita]

It's has advantages for those who has invested in crypto currencies and late they may become the richest person just because of buying coins and investing there.
But the task is risky because the prices may fall down one time so most of the scary people get to the loss side like they sell the coins and they get loss here but if they have quite patience so the price may increase and rise again to the level.

 

[Kehinde]

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 .

 

[adazeez1995]

Any cryptocurrency have it's own numbers of advantages and disadvantages. One of the obvious advantages of cryptocurrency is that it's volatility is much more higher than than the currency pairs in the stock market. But because of this, cryptocurrency are also very risky, which is why inexperienced traders often face the problem of liquidating their accounts on the cryptocurrency currency exchange. In any case, digital currency remains very promising

 

[mcjerry]

One of the big disadvantage or crypto currency is that no one can predict when there will be bull in the market. When the price of the coin will jump to more than double the price of the crypto currency. That is why I am afraid to trade now

 

[Olahab]

Advantages: It is very fast, easy and cheap to use.
– Cheaper (Or Free) than other monetary transactions like PayPal, Payoneer etc
– Fully secure.
– Your details are fully safe.
Disadvantages:
Payment is not reversible.

– If you lose your wallet, there is no way to recover it back.

– Not all websites accept these digital currencies, only few website.

 

[Nicklas22]

The advantages of cryptocurrency is that you can manage and control it yourself, it makes transferring of funds easy and and the disadvantage is that the price is not stable, it can high today and reduce tomorrow

 

[Tariq Nazir]

Advantage of cryptocurrency can also be its disadvantage for instance you could buy at a cheaper rate and the price will go up in your favour but currently now you might buy at a higher rate and the price will crash making you lose your investment.

 

[abubakar3141]

Cryptocurrency Advantages:
Inflation protection: Inflation has caused many currencies to fall in value over time. ...
Self-administered and controlled-...
Secure and private-...
Exchanges of currencies may
Cryptocurrency drawbacks
#1 Drawback: Scalability.
Drawback #2: The difficulties of cybersecurity.
Drawback #3: Instability of prices and absence of intrinsic value.
Drawback #4: Rules

 

[Tinaconcept]

Just like every business and investment that has both advantages and disadvantages so also do cryptocurrency have its own. The advantage of cryptocurrency is that though it has its risk as an investment but it still gives profit to investors

 

[Ralphjoe]

Bitcoin has so many benefits to anyone that owns them. I can't think of any disadvantage associated with owning Bitcoin. But I can give you several benefits and advantage of using Cryptocurrency.
1. Anonymity
2. Decentralized
3. Price increase of your investment
4. Very liquid asset.
5. Online payment gateway.
6. Creates employment for lots of people.
7. Made alot of people rich.

• Cryptocurrencies

• Make

 

[GIFTMICHAEL]

Cryptocurrency investment has the advantage of transforming and enriching people's lives. I know so many people that the only job they have is investing in cryptocurrency platform. This people has invested virtually in all the major cryptocurrency and they are making enough profit.

 

[Onachukwu]

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.
Data losses can cause financial losses
ome coins not available in other fiat currencies

 

[Presh1503]

One disadvantage of cyrptocurrency is that your money could vanish from your wallet due to depreciation in the price of the crypto you are investing in and the advantage is that most times the rate rises and you get big profit