Is there any disadvantage of investing on Bitcoin

[Kelly5]

If there are any disadvantage in investing in Bitcoin. There are so many disadvantages in investing in Bitcoin. It is even worse if you don't actually know what you are doing while investing. Like how did you come to the conclusion of the choice you made etc

 

[Olubayo12]

Like we all know, everything that have advantage also have a disadvantage. Please what is the disadvantage of investing on Bitcoin?

The first problem about it is that you do not have peace of mind at all when you are investing in bitcoin because you will always be checking the price to know your fate whether you are in profit or loss and this is one of the turn offs of bitcoin

 

[Diamond07]

Instability of price
If a hard drive crashes, or a virus corrupts data , and the wallet file is corrupted, Bitcoins have essentially been “lost”. There is nothing that can done to recover it. This can bankrupt a wealthy Bitcoin investor within seconds with no way form of recovery

 

[Ralphjoe]

The only disadvantage that I see in investing in Bitcoin is that due to the volatile nature your investment can reduce drastically so therefore you can have great loss within a very short time. Then bitcoin transaction confirmation is very slow it takes up to like 30 minutes to confirm each transaction on the block chain.

 

[Hasan Raza]

The drawbacks of interests in bitcoin are lesser than the preferences. Truth be told, it is by all accounts one of the least demanding and most beneficial interests lately taking a gander at the individuals who have acquired such a huge amount in a brief timeframe should disclose to you that.

 

[Seun4luv]

Is bitcoin a good investment? Bitcoin is at the (very) “high-risk” end of the investment spectrum. The price of cryptocurrencies is volatile; some can go bust, others could be scams, and occasionally one may increase in value and produce a return for investors.

 

[Patrik]

there are disadvantages for sure, for example, the massive stress that you get when it drops in price for example, i experienced that and it wasn't a good feeling, that's a sure thing, the other issue is that it's hard to buy

 

[WhiteHouse]

The crypto world is hazardous

In spite of the fact that standard organizations have acknowledged Bitcoin, it doesn't mean everybody is on crypto. As of late, the FBI seized $1bn in Bitcoin that was taken from Silk Road by a programmer. Such things can tremendously influence the honesty of Bitcoin and effect its worth.

 

[Setho]

Bitcoin is the worlds first digital crypto currency and also the most popular one since then. It has been growing at an exponential rate since then which has prompted people to want to invest in it. The disadvantage is that it can be banned any time because it is not controlled by the central authority.

 

[Azmatali]

offcours Is bitcoin a good investment? Bitcoin is at the (very) “high-risk” end of the investment spectrum. The price of cryptocurrencies is volatile; some can go bust, others could be scams, and occasionally one may increase in value and produce a return for investors..........

 

[Blessedsam60]

There's no disadvantage in investing in bitcoin because the works is revolving and transforming it's transactions to digital currency. Crytocurrency transaction has proven to be one of the best means of currency exchange so far.

Post automatically merged: Feb 10, 2021

There's no disadvantage in investing in bitcoin because the works is revolving and transforming it's transactions to digital currency. Crytocurrency transaction has proven to be one of the best means of currency exchange so far.

 

[Sheyemanu]

I would say that bitcoin is a cryptocurrency and the characteristic of a good cryptocurrency is instability but the instability of bitcoins is that it can come down now and it will go up later in the day but even with it instability ,the price of bitcoins as a cryptocurrency can either move up or down, I doubt if you can call this a disadvantage because the instability or volatility is what brings miney in

 

[Alexandoy]

There is always a risk when you invest in anything. The investment is not always foolproof and not always profitable especially when you are investing in something that is involved in trading. Bitcoin investment is only good when the price continues to rise. Think if the price would drop continuously and you have a Bitcoin worth $10,000 that is now worth $8,000 due to the price fall, what would you feel?

 

[Sake]

Aside from the high transaction fee.(Ethereum is still the worst though). i don't see any other disadvantage of investing on Bitcoin. Because it know that even if it drops it will still dominate the Cryptocurrency market. And it will recover..so it almost has no risks

 

[Good-Person]

There are advantages and disadvantages associated with everything. The same goes for Bitcoin investment or some other cryptocurrency investment. Apart from losing all or some of your money, you might get scammed when it comes to Bitcoin investment. It might be possible that you might get scammed by HYIP programs and other ponzi schemes that promise a big return on Bitcoin investment and many people have lost money to such scams. So I think this is one of the disadvantage of Bitcoin investment or some other cryptocurrency investment. There are many online cryptocurrency mining scams out there, too.

 

[Kaindio Agnes Wanja]

Like we all know, everything that have advantage also have a disadvantage. Please what is the disadvantage of investing on Bitcoin?

True,anything that has advantages there must be a disadvantages .
In this case,one of the disadvantages of investing in bitcoin is that it is very risky and one can loose his or her money so easily .
Reason behind this is because its price is so unpredictable where it maybe high today and fall within 24hours.

 

[Jomarie05]

One of Bitcoin’s biggest drawbacks is a lack of standardized policy for charge backs or refunds, as all credit card companies and traditional online payment processors have. Users affected by transaction fraud – for instance, they purchase goods that the seller never delivers – can’t request a refund through Bitcoin.

 

[Felixko]

there is always advantages and disadvantages in everything. bitcoin really has disadvantages such as, If a hard drive crashes, or a virus corrupts data , and the wallet file is corrupted, Bitcoins have essentially been “lost”. There is nothing that can done to recover it. These coins will be forever orphaned in the system. This can bankrupt a wealthy Bitcoin investor within seconds with no way form of recovery. The coins the investor owned will also be permanently orphaned

 

[Klashlly]

Disadvantage o investing on Bitcoin

1. No chargebacks or Refund
2. Black market activity may damage reputation and usefulness
3. Exposure to Bitcoin-Specific scam and fraud

 

[Dowenship]

Like we all know, everything that have advantage also have a disadvantage. Please what is the disadvantage of investing on Bitcoin?

Exactly, there's no matter how bitcoin have profit or it overall advantages it still have it own disadvantages which is applicable to all roses.. The disadvantages is when its start dropping and the votality is very high.