Advantages and disadvantages of cryptocurency.

[Profwriter]

If the investments was governed by the simple rules of not investing all of one's resources, I think holding for a long time won't be a bad idea. As we know that cryptocurrencies are very volatile and though it holds great promise of profits, one should invest wisely.

 

[KENDRA2020]

Advantages of Using Bitcoin

• Greater Liquidity Relative to Other Cryptocurrencies. ...
• Increasingly Wide Acceptance as a Payment Method. ...
• International Transactions Easier Than Regular Currencies. ...
• Generally Lower Transaction Fees. ...
• Anonymity and Privacy Relative to Traditional Currencies.

 

[Saraali]

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 a bright and well known future and it have many advantages like it use for share a big amount of currency from one platform to other and disadvantage for those who not know about it.

 

[Lordfalcao]

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.

Well the advantages are the ease to use,generally acceptable, non physical etc. But on the other hand the disadvantages areits transactions are untraceable risk of hackers and fraudsters etc.

 

[Sotherefore]

I don't see any serious disadvantage of cryptocurrency because a lot of people that are working online have an opportunity to be paid in cryptocurrency and that actually make it much more easier for them than a long process of trying to convert dollars to their local currency

 

[WhiteHouse]

Crytpocurrencies is opportunity: utilizing crytpocurrencies gives you the independence from the rat race to execute worldwide utilizing all the properties referenced previously. Thusly, Cryptocurrencies gives financial solidness and freshly discovered opportunities to the world, which are extraordinary occasions.

 

[solalal36]

There is nothing that is advantage that doesn't have disadvantage. In the case of cryptocurrency, the advantage outweighs the disadvantages. With crypto, you can smuggle your funds into another country without the government knowing. They can't even know your net worth. You don't have to worry about getting robbed. Where the problem comes is when you forget your passkeys or you don't have internet service or your don't have your device. But the advantages are more

 

[Romanmam]

crypto currency is a good thing after seeing the advantages or disadvantages i can say that if crypto currency will come in india indian people will gate a lot of facilities by using it indian people will more responcible for it ,and gate the transecion safely.

 

[Yunglegend]

• Anonymous and Private. Bitcoin transactions are completely anonymous and private. ...
• Payment Freedom. ...
• Low/Minimal Fees. ...
• Fewer risks for merchants. ...
• It's fast. ...
• Central governments can't take it away. ...
• People can't steal your payment information from merchants. ...
• Non-Inflationary.

 

[Hills]

The advantage of having and transacting with your pocessed crytpto currency is that, it keeps you in total control of your crytpto assets and some level of anonymity. The disadvantage is the irriversibility of transactions wrongly carried out.

Post automatically merged: Apr 2, 2021

The advantage of having and transacting with your pocessed crytpto currency is that, it keeps you in total control of your crytpto assets and some level of anonymity. The disadvantage is the irriversibility of transactions wrongly carried out.

 

[Billy]

Good points here. i would say the greatest undoing of crypto is the unpredictability. But on the other sand, the ability to exist without being governed by a specific country or company is a beautiful and useful property of crypto.

 

[odigomma]

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. The source code specifies the amount of any coin; like, there are only 21 million Bitcoins released in the world. So, as the demand increases, its value will increase which will keep up with the market and, in the long run, prevent inflation. And also Governance and maintenance of any currency is a major factor for its development. The cryptocurrency transactions are stored by developers/miners on their hardware, and they get the transaction fee as a reward for doing so. Since the miners are getting paid for it, they keep transaction records accurate and up-to-date, keeping the integrity of the cryptocurrency and the records decentralized.

 

[Nurudeen]

Crypto currency exchange is now the new trend as most people in the world are now moving their Fiat Currency to digital currency but the only issue as of now with Digital currency is that most governments are yet to legalise it in their country just because it's transaction isnt traceable

 

[Richard92]

Advantage of cryptocurrency is that controls it improves your financial buoyancy why it's disadvantage is when it falls tend to lose a lot and as an investor in cryptocurrency you must know the kind of cryptocurrency you are investing it don't help you to avoid risk.

 

[Good-Person]

Some of the advantages of cryptocurrency includes the fact that it can be used everywhere in the world. You can even trade cryptocurrency on moon. All you need to have is a computer with a good internet connection along with a spacesuit. The second great advantage is that cryptocurrencies are not easily traceable. Some disadvantages include high colatility and high fees albeit not all cryptocurrencies have high fees.

 

[Nomad]

Cryptocurrency is a commodity as well as payment system. As a commodity you can invest or trade cryptocurrency and benefit from trading and investing, and you can also use as a payment system

 

[Georgeadawara]

Write your reply... crypto currency today has more of the advantage more than the disadvantages they are many ways that crypto currency has helped in life making many people to be rich. the crypto currency you can buy it at a Chip price today and sell it in millionaires tomorrow the market of crypto currency is on of the big markets in the world.and the disadvantages is the you just have to wait and be for some time for your crypto to increase .

 

[Josemendez]

Cryptocurrency is one of the most difficult investment one can ever think of , yet very profitable . The disadvantage is that one may be having price fall at a time he needs money urgently

 

[Muhammadawais]

Digital currencies are gaining a competitive advantage as a result of increased industrialization and technological participation. Bitcoins are one such currency. This well-known jargon is familiar to all of us. Cryptocurrency is the one thing that is perplexing. What are the advantages and disadvantages? Is it worthwhile to invest in 2020? Have your questions answered here if you have any. The main benefits are listed below.

 

[Blue house]

Crypto currency has a lot of advantage and disadvantage.
The first advantage is that you make a lot of money through crypto currency.
And the disadvantage is that you can loose all your investment in one day.