The advantages and disadvantages of cryptocurrencies?

[Kinglegend01]

Majority of us here know what cryptocurrency is and most of is possess some of them most especially the common ones like bitcoin, ethereum and others but I will still share the meaning of cryptocurrencies for the sake of those who doesn't. 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. So my question is what do you think is the advantages (selling points) and the disadvantages (losing points) of cryptocurrencies in general.

 

[IamDozzy]

The advantage of cryptocurrency far outweighs the disadvantages of cryptocurrency. First off, cryptocurrency is unstable it could either increase or decrease, so if you are lucky to invest when it's on the ascendancy you will reap bountifully. Secondly, it provides a means for people to save their money through cryptocurrency investments. They don't get to spend their money on frivolities. The only disadvantage of cryptocurrency that I know of is that it's difficult to trace a crypto account.

 

[Bookwormlux]

I am more interested in the advantage of crypto currencies. Crypto currencies have made things very easy for those of us who are in countries where Payment gateway like PayPal. It has also helped us to claim our money from some earning websites. Crypto currencies make it easy for citizens to avoid outrageous bank charges by the banks. Also our money appreciates in value faster.

 

[Ahmedo24]

The few disadvantages of Crypto currencies is the fact that most of their transactions are irreversible, they are too many Crypto coins available making it difficult for people to know the best coin to invest on and make profit also the use of cryptocurrencies to commit crimes because of anonymity feature in it. The advantages are much like bouycoting inflation, source of livelihood .

 

[Deleted member 28873]

The advantages of crptocurrency is more than the disadvantages it is a form of payment accepted world wide.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.