Are Crypto Currencies Still Digital Currencies or Crypto Assets?

Mika

VIP Contributor
Crypto means encryption of data and currency means money. Therefore, crypto currency is encrypted data that is used as currency. Bitcoin is the world’s first crypto currency, or let say the world’s first digital currency (a currency that exists only in the virtual world)

Bitcoin was started as a digital payment system that eliminated the intermediate system like banks and allowed to send funds directly between two individuals or businesses without hassles. For 4-5 years after bitcon was launched, there were only a few crypto currencies and they were all used as a payment system. In 20016 and 2017, a lot of new crypto currencies evolved. With the evolution of new currencies and the increasing price of the existing crypto currencies, crypto currencies were no longer a payment system, people started using them as a digital assets. These days crypto currencies are popularly called crypto assets.
 

Sotherefore

VIP Contributor
Cryptocurrency is a digital currency and digital Cryptocurrency and digital currency is something that money you can use for transaction and is also what you can use for payment of goods and services, there are some online organisation that accept cryptocurrency as mode of payment.
 

Lens1000

VIP Contributor
It's fast becoming an assets due to its popularity and volume in the world market.
It's an asset because it portrayed the characteristics of an assets. So cryptocurrency as shifted from been only a currency but also an assets. Using the word assets makes it more pronounce, is worth thousands of dollars . So everyone is showing interest on buying and investing in crypto assets
 

Alexandoy

VIP Contributor
It depends on how you look at the crypto coins. For me it is a digital commodity that is likened to stocks with speculators buying in the hope of cashing in when the price goes up. As an asset I don't consider it because there is the risk of losing value in the price fluctuation.
 

sincerem

VIP Contributor
Since it operates digitally, and not like physical cash or fiat currency. So you call it digital currency too cos of its nature. I know the world "Crypto is encrypted to operate on decentralized form in a virtual way. And anything that operates in a virtual way its mainly of digital and not physical.
 

Jasmine

VIP Contributor
Crypto currencies are digital currencies as well as assets. You can use it just like fiat money and invest just like shares. That's the beauty of crypto currencies. If you want you can buy crypto currencies and invest or trade. You can also use it to pay for products and services,
 

Daykas

Active member
Basically you can say cryptocurrency is a digital currency and also a digital asset depending on how u look at it.
But it becoming more of an asset also.And most people have venture more into making it an asset
 

Wisdom01

Valued Contributor
I think they are actually both and could either be called the digital currency of the crypto asset , but I think they are mostly called crypto asset by some traders , because that's what is written in some wallet platform , it's a digital currency as it dosent have a physical value but a digital value
 

Daykas

Active member
It both though it depend on your own view. But I will say it becoming more of an asset has it's also a digital currency.
Because people have now tend to be more aware of cryptocurrency than it was before and to say it will become an asset is a sure things.So it both
 

dagm

Active member
Due to its popularity and volume in the global market, it is quickly becoming an asset.
Because it depicted the characteristics of an asset, it is an asset. As a result, cryptocurrency has evolved from a money to an asset. It is worth hundreds of dollars, and using the word assets makes it easier to pronounce. As a result, everyone is interested in purchasing and investing in crypto assets.
 

Wisdom01

Valued Contributor
It both though it depend on your own view. But I will say it becoming more of an asset has it's also a digital currency.
Because people have now tend to be more aware of cryptocurrency than it was before and to say it will become an asset is a sure things.So it both
On a clearer view crypto currency actually posess the quality of an asset , as it could appreciate in value when you store ,it's not just a currency that could be use for the purchase of both online and offline properties ,I could actually be stored on wallet platform just like an asset I think
 
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