Crypto Currency as a Currency or asset s

[ahmedo24]

It is very good if we ask questions about things were not really clear about all we have doubt in our mind.
I wish to hear people's view as regards cryptocurrencies being a currency or an assets that can be traded because sometimes I feel it is not a currency because it is not regulated and as such we can call it a legal tender but I see it as an asset or a commodity that is worth trading . Share your views.

 

[Kamon c4]

Cryptocurrency can be classified under asset but as a portfolio asset. Portfolio assets don’t contain any physical assets. Portfolio assets are paper related assets. Though cryptocurrency isn’t a paper related assets but there’s no physical evidence to prove its rigidity. Moreover not all cryptocurrencies can be classified as asset. In my perspective, I classify stable crypto under currecies cause it doesn’t appreciate nor depreciate. I classified volatile cryptos as asset cause it serve as investment scheme

 

[btaliat]

Cryptocurrency can be classified under asset but as a portfolio asset. Portfolio assets don’t contain any physical assets. Portfolio assets are paper related assets. Though cryptocurrency isn’t a paper related assets but there’s no physical evidence to prove its rigidity. Moreover not all cryptocurrencies can be classified as asset. In my perspective, I classify stable crypto under currecies cause it doesn’t appreciate nor depreciate. I classified volatile cryptos as asset cause it serve as investment scheme

Nice explanation. To be candid, I don't know all what you explained prior the time I read your post. But if I were to classify cryptocurrencies. I will classify based on the time it is held. If for long term, it is an asset but short term, it is currency

 

[Abbeyola]

It is very good if we ask questions about things were not really clear about all we have doubt in our mind.
I wish to hear people's view as regards cryptocurrencies being a currency or an assets that can be traded because sometimes I feel it is not a currency because it is not regulated and as such we can call it a legal tender but I see it as an asset or a commodity that is worth trading . Share your views.

Crypto currency can be easily converted to cash, which makes it in the liquidity form that is currency,while it is in the asset form when you invest and allow it to increase or appreciate in it value in other to have more profit and money.

 

[ahmedo24]

Crypto currency can be easily converted to cash, which makes it in the liquidity form that is currency,while it is in the asset form when you invest and allow it to increase or appreciate in it value in other to have more profit and money.

Thanks for your view.
So from your explanation If I get you right it is both currency and asset . Let wait and see other people's opinions because this could help understand lots of things about Crypto currencies.

 

[Erik4150]

Cryptocurrency is both a currency and an asset. There are places where you can use cryptocurrency as a legal tender to buy a product or service. But these places are few because cryptocurrency is not widely accepted yet.
For now it is mostly an asset to a lot of people because of the investments opportunity it presents.

 

[Sake]

I think it's both, we can use Cryptocurrency to transaction and use as a payment methods. That makes it a currency. And it's created to be an online currency in the first place. But it's also an asset that's it's high Volatility is what makes it perfect for investments that's why mostly people who wanted to grow their money are going for Cryptocurrency

 

[Mariyam]

It is very good if we ask questions about things were not really clear about all we have doubt in our mind.
I wish to hear people's view as regards cryptocurrencies being a currency or an assets that can be traded because sometimes I feel it is not a currency because it is not regulated and as such we can call it a legal tender but I see it as an asset or a commodity that is worth trading . Share your views.

I consider that our assets are incomparable with any currancy.. because we can save cash but for Saving we buy plots , shears etc and cryptocruncy is a good thing but it is not an asset its value continually goes change some it drops down

 

[Ralphjoe]

Cryptocurrencies can serve multiple roles for you, depending on what usage you want to do with it. For someone like me, I use it as a payment gateway for now, to us, it's an online currency but to investors in cryptocurrencies, then it's an asset.

 

[Abibatabosede]

Looking at crypto currency as currency means of exchange and asset.
I will say that I consider crypto currency as an asset which I could use to make more money than I Invest into acquiring the crypto currency as my asset

 

[ahmedo24]

Cryptocurrencies can serve multiple roles for you, depending on what usage you want to do with it. For someone like me, I use it as a payment gateway for now, to us, it's an online currency but to investors in cryptocurrencies, then it's an asset.

I like your opinion so to an extent it serves as both assets and currency because some platforms use it as a way of making payments to users or subscribers and to some they buy it as commodity on assets which the store as an investment and sell when necessary.

 

[Royalty]

Cryptocurrencies are not financial assets. They also lack physical substance. Therefore, they meet the definition of an intangible asset and would be recorded at acquisition cost (i.e. price paid or consideration given). Intangible assets are subject to an impairment test.

 

[kayode10]

Cryptocurrency has a capability to serve as both, as currency and as well as investments. It can serve as a currency as it is used in transaction when buying and selling goods on the internet. It also serve as an investment as it is a commodity on his own and it is capable of rising in price and also videos depending on demand and supply.

 

[Seun4luv]

Cryptocurrencies are not financial assest. They also lack physical substance. Therefore, they meet the definition of an intangible asset and would be recorded at acquisition cost. Intangible asset are subject to an impairment test.

 

[Ehizzy1]

I would view crypto currency as a asset because you could easily purchase them and store it to get some good returns and its more than just a digital currency that could be used to purchase goods and services both online and offline i think

 

[Donkiz]

Cryptocurrency can serve as a currency and as an asset. As a means of payment, which can be used to pay for goods and services qualifies it as a currency. Also it can be called an asset simply because it can be traded on, do its safe to say that cryptocurrency can serve dual purpose.

 

[Ashu]

It is very good if we ask questions about things were not really clear about all we have doubt in our mind.
I wish to hear people's view as regards cryptocurrencies being a currency or an assets that can be traded because sometimes I feel it is not a currency because it is not regulated and as such we can call it a legal tender but I see it as an asset or a commodity that is worth trading . Share your views.

Cryptocurrency is both a currency and assest. It is a virtuall currency that will remain only in your cellphone or in your other smart handling mediums. You can't have that i you hand like our official currency. It is also a assest but you don't exactly know its worth as sometime you will see raising value and sometimes you will see downfall. So don't hold it for long time.

 

[ahmedo24]

Cryptocurrency is both a currency and assest. It is a virtuall currency that will remain only in your cellphone or in your other smart handling mediums. You can't have that i you hand like our official currency. It is also a assest but you don't exactly know its worth as sometime you will see raising value and sometimes you will see downfall. So don't hold it for long time.

Also note that people that has held Crypto currencies for a longer time do make huge profit from it based on what I have seen so far though I will agree for us not to hold it for too long , once a substantial percentage of profit has-been made we should trade it off.

 

[Robrown83]

Cryptocurrency is not an asset, it just a currency. When look at the meaning of currency it is what use in exchange of goods and services while assets is long term investment which doesn't depreciate in value but rather appreciate. So cryptocurrency belongs to currency.

 

[Alexandoy]

Crypto currency is a digital commodity that is only present in the internet and there is not physical coin or money but just the imagination. It can be considered an asset in your financial accounting because there is a value. A currency is a pecuniary measure that you can use for paying transactions although I have read that there are some commercial establishments that accept crypto currency as payment. The most recent is Tesla car that you can buy using Bitcoin for your payment.