Advantages and disadvantages of cryptocurency.

[Senator]

The advantage of having as well as holding a cryptocurrency is that it can make you very rich. The disadvantage is that it can make you lose all your monies if you don't know what you're doing

 

[Samuel77]

there are many advantage when it comes to the world of cryptocurrency but I don't really see any disadvantage when it comes to the world of cryptocurrency because all business has it own risk

 

[Jumoke12]

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 - it makes payment or Transfer of funds easier and one of the disadvantages is the nature of the transaction which is untraceable. It gives room for scam

 

[Victor72]

Cryptocurrency is an online business sometimes when you are not vigilance you easily get scam. cryptocurrency is a profitable investment and easy to access

 

[Mostee501]

The major disadvantages of cryptocurrencies is that it is very risky to a certain point. In as much that it's risky, it is also very profitable.

 

[Setfragil]

The advantages of cryptocurrencies can not be overemphasized. The advantages of cryptocurrencies outweigh it disadvantages. Investing in Cryptocurrencies can make you a millionaire within a short period of time of the investments is done with a thorough research whereas, cryptocurrencies can make you loose a good amount of money if done with care when the price fall unexpectedly.

 

[Kelly5]

Cryptocurrency is a dicentralized system of currency. It is not under the control of any one government. This alone to me is a very big advantage

 

[Setfragil]

Cryptocurrency is an online business sometimes when you are not vigilance you easily get scam. cryptocurrency is a profitable investment and easy to access

At times those who got scammed through cryptocurrencies were not careful enough or didn't know more about cryptocurrencies. Cryptocurrencies has so much benefits in this computer age than it disadvantages.

 

[Eodine]

One advantage of crypto currency is that you get value for storing or holding money in form of crypto you might even get a profit. But a disadvantage is that you may loose funds if you are not properly enlightened as per what to do

 

[Doradorwa]

The major advantage is that it's an electronic money that is popularly accepted and it's well encrypted for investing and the major disadvantage is that it's an electronic money that might never be accepted.

 

[Victor001]

In crypto currency, the target is to have more profit and minimal loss, so your advantage should outweigh its disadvantages, this is possible when you eliminate greed and understand the market makers.

 

[MercySmith]

Certainly.. Crypto currency have both the good and the bad side. Due to its high volatility, there's a chance one can lose a lot of money

 

[Chibson]

One of the advantages of cryptocurrency is that it is decentralized and you are in charge of your money. The disadvantage is that in case of any wrong transaction, your money is gone.

 

[Ayokex]

One of the advantages of cryptocurrency is the ease of exchange and distribution. Cryptocurrency makes online transaction easier and faster, it makes money circulate without the barrier or restrictions of individual currency.

 

[FreshKaz11]

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.

Nothing in this life that don't have thier advantage and their disadvantage, so is just that one need to be careful when going into any crypto currency, because anything can happen to any of the coin.

 

[nimzy]

Always to be stated that what so ever that has an advantage most definitely has the opposite that is the disadvantages to me the advantages associated with cryptocurrency is the high rate of profit within a period of time, while the disadvantages is also seen from the angle of depreciation in the price of the cryptocurrency market.

 

[eLdavis]

High cost of transaction fee in the case of bitcoin then then the use of crypto currency has affected some countries and their flat currency to reduce in value. One advantage i can give is that it is a great way to transfer hugh sum of money easily

 

[Justin]

The only disadvantage I can see with crypto currency is related to the volatility. The price fluctuates so rapidly that you can become bankrupt just in one second.

 

[eLdavis]

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.

True, based on its nature, one has to be vwry cautious and careful on every transaction being made as it cannot be reversed. Unlike normal bank transaction that can be completely traced, the case for crypto is completely different.

 

[Cash%]

Crypto currency have more advantage than disadvantage. ,because there are possibilities for you to earn from your investments. ,it have so much benefit than disadvantages