Advantages and disadvantages of cryptocurency.

[Ridorz]

As I always say that there's nothing with advantage that do not has a disadvantage. Crypto currency have a lot of advantage than its disadvantage, crypto currency make it easier for many at different countries in the world to make transaction of money to each other, crypto currency create a opportunity to sell and buy product among people from remote country and transfer money. The its disadvantage is that the transaction fee may too high.

 

[WhiteHouse]

Likely the greatest worries with cryptographic forms of money are the issues with scaling that are presented. While the quantity of computerized coins and selection is expanding quickly, it is as yet overshadowed by the quantity of exchanges that installment goliath, VISA, measures every day. Furthermore, the speed of an exchange is another significant metric that digital currencies can't rival on similar level as players like VISA and Mastercard until the framework conveying these advances is hugely scaled. Such an advancement is mind boggling and hard to do consistently. In any case, some have just proposed a few arrangements, including lightning organizations, sharding, and marking as alternatives to beat the versatility issue.

 

[Maliha]

There are equal advantages and disadvantages of crypto currency because they are equally running for example right now the price of crypto currency is good and high so those people who has bought the currency before they can sell and earn much profit RightNow but there are chances that in future The rate of currency goes down and buyers profit dipped in the loss.

 

[Dowenship]

There Are series of its advantages and disadvantages but there's no business that doesn't have its own advantages and disadvantages its depends on your consistent to win

Quote of the day:
Never give up, because the breakthrough is near. Keep pushing till you win

 

[Seun4luv]

Advantages of cryptocurrency are Lower fees. Transaction fees are lower with bitcoin than with credit cards, and when cryptocurrency is not exchanged, it also eliminates the need for bank charges. Fraud reduction. A payment made with bitcoin cannot be reversed after the fact.

 

[Patrik]

I would say as disadvantages are volatility (which is a must unfortunately in cryptocurrency) and the high number of scams that are related to it, also crypto being banned in lot of countries is a disadvantage, advantages are pretty much everything else

 

[Prettybabe]

The advantage of cryptocurrency is that you're in control of your money.

Also trading or investing in cryptocurrency can make you rich if you are lucky enough and understand how it works.

You can easily receive or send payment using cryptocurrency irrespective of your location.


The disadvantage is that while you can make a fortune from it... It is possible to lose fortune because of it.

 

[Briangsam]

Cryptocurrency offers a wide range of advantages but also has its disadvantages as well. One of the advantages is that, it has the ability to produce overnight millionaires. The disadvantage is that it also has the ability to make someone very poor.

 

[Azmatali]

first the advantages of cryptocurrencies is

Post automatically merged: Feb 7, 2021

first the advantages of cryptocurrencies are lower fees or transactions fees are lower with bitcoin than with cradit card and when cryptocurrencies is not exchanged it alsoo eliminates the bank charges A payment made with bitcoin cannot be reserved...

 

[Ub40]

The advantage I see in cryptocurrency is the power to make you become millionaire in a short time. And the disadvantage happens when there is serious fall in the price of the coins. This too can make one loose huge sum of money on a very short time. My take.

 

[Bilal0087]

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 advantages of cryptocurrency include, easy access fastest transaction and part time earning opportunity.
If it comes to its disadvantages, it is very easy to scam with people,
a person can hack your Crypto wallet,
you can not take back your payment if you send it at wrong address.

 

[zyralorenzo01]

The advantage of crypto currency is convenient and easy to access. The disadvantage of it is untraceable once you transact online. And it is widely use by traders online. Also one disadvantages if not centralize.

 

[Veetos12]

Despite the fact that Cryptocurrency has many advantages like making you a millionaire overnight, it has a lot of disadvantages as well. One's funds can be totally wiped out within a few minutes if care isn't taken, also the cost of sending Crypto to one wallet from another is very high, besides, the price volatility poses a greater risk.

Your submission is very much correct because when I heard about the advantages investing in crytocurrency that it can double up my investment without stress in matter of minutes I was so happy to invest into it but the disadvantage appeared to me when I noticed the volatility of the

 

[Alexandoy]

I have created a digital wallet for crypto currency last week. But now I feel discouraged to withdraw in Bitcoin because of the fees. I thought all along that crypto transaction has no fees unlike Paypal which charges about 5% to the withdrawal (money coming in to Paypal). With crypto withdrawal the fee was even exorbitant that Ethereum withdrawal charged $9 for a $39 withdrawal. That really makes me hesitant now.

 

[Olubayo12]

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.

advantages - payments between countries are made easy, fast, and seamless and even effortlessly and it facilitate good relationship between countries. Disadvantages - it can not be controlled and if you make any mistake, you are on your own, no one will be responsible for it.

 

[Tinaconcept]

Every business and investment has its advantages and disadvantages and cryptocurrency is not an exception. The advantage of cryptocurrency is that after your investment and within some period of time you get profit, and the disadvantage it has the capacity of tying your money down.

 

[Trojan8]

The biggest flex with cryptocurrency is that it is decentralized and allows for the quick transfer of digital money. The fact that it is decentralized means that no individual or government can claim responsibility for its price. The biggest disadvantage is the anonymity it brings. This can potentially allow fraudsters to carry out transactions without being traced.

 

[IamDozzy]

The advantages of cryptocurrency far outweighs the disadvantages of cryptocurrency. Cryptocurrency is a decentralized system and as such cannot easily be traced by a government or an enforcement agency and that is the major disadvantage of cryptocurrency. The advantages of cryptocurrency a numerous and forum members have already mentioned most of them.

 

[Royalty]

Cyptocurrency may have been a good investment for many and has alot of profit in global business but has it disadvantages.
Disadvantages of Using cyptocurrency like Bitcoin. Exposure to Bitcoin-Specific Scams and Fraud. Black Market Activity May Damage Reputation and Usefulness. Susceptible to High Price Volatility. No Chargebacks or Refunds. Potential to Be Replaced by Superior Cryptocurrency. Environmental Ills of Bitcoin Mining

 

[btaliat]

Benefits of Cryptocurrencies The most significant advantage of cryptocurrencies is that they’re backed by the most dynamic technology in the world - the blockchain technology.
Blockchain technology is completely decentralized and it means that no central entity can claim control or ownership, and also you can relieve from interest rates & transactional fees.

That's the reason why people that are into cryptocurrencies is always feel confidence that the system can not the monopolized or even stopped by anybody. The worst is for the recipient government to regulate its banks in trsanction.