Crypto is such a big help to our economy in many ways, and it can be used against inflation and make financial transactions easy. It can be also used to acquire wealth and investments or make you financially comfortable. But there are pros and cons in it.
Advantages:
* Possible High Returns
* High Security and Low Risk of Fraud
* Transparent Records
* Fast and Immediate Transactions with Low Fee
Disadvantages:
* High Volatility
* Medium to High Risk Loss
* Unregulated
I think cyber security doesn't belong to the disadvantages of crypto because crypto itself has a high security and difficult to breach. Cyber security issues are found only on the crypto owners who have failed to secure their accounts.
Topic: Advantages Of Crypto, Disadvantages of Crypto - page 3. (Read 352 times)
What are the disadvantages of cryptocurrencies.
Scalability,Cybersecurity issues,Price volatility and lack of inherent value,Regulations.
Advantage of crypto currencies. Fast and Inexpensive
It only takes a few minutes to send any amount of money. Regardless of the amount or the destination, Decentralized issuance, Lower fraud risks and Transparency...
As for me, the only drawback of crypto is that we can't pay with it everywhere yet because of regulations. Other problems can be solved, moreover, if one crypto has some features, another one has different, so they complement east other. For example, ordinary crypto currencies are volatile, but there are stable coins that don't change in price. Scalability,Cybersecurity issues,Price volatility and lack of inherent value,Regulations.
Advantage of crypto currencies. Fast and Inexpensive
It only takes a few minutes to send any amount of money. Regardless of the amount or the destination, Decentralized issuance, Lower fraud risks and Transparency...
Distribution of wealth and decentralization are the most important factors in crypto and ofcourse the fact that It make transaction more efficient and seamless For the disadvantages I will say try to keep your skin in the game and better not get rekt (bull and bears)
Next time please put some effort into determining the disadvantages and advantages of cryptocurrency, it's a lack of information you gave, and might there are more about what you're talking about.
There could be less risk if you know the basic function (technical) of crypto or let say Bitcoin since it's an irreversible transaction, there could be a cause of scams. People use this for a convenient transaction purpose and also want to cut out intermediaries such as centralized financial institutions and which means, financial freedom.
And the additional disadvantage is easy to lose if you don't know the proper storing your crypto, it's very vulnerable to cyber attacks that could lead losing your fund.
There could be less risk if you know the basic function (technical) of crypto or let say Bitcoin since it's an irreversible transaction, there could be a cause of scams. People use this for a convenient transaction purpose and also want to cut out intermediaries such as centralized financial institutions and which means, financial freedom.
And the additional disadvantage is easy to lose if you don't know the proper storing your crypto, it's very vulnerable to cyber attacks that could lead losing your fund.
What are the disadvantages of cryptocurrencies.
Scalability,Cybersecurity issues,Price volatility and lack of inherent value,Regulations.
Scalability,Cybersecurity issues,Price volatility and lack of inherent value,Regulations.
Regulations aren't a cryptocurrency issue, they are a real world issue, price volatility only applies if we want to replace it with money.
The real use case for these native tokens (or coins) like eth, should be that they are incentives for keeping the network secure. I mean they are obviously worth something, but they shouldn't be compared to fiat money, or normal currency as they don't behave similarly.
Cybersecurity is an issue in anywhere where humans use the internet. Your data is being stolen, so is your money. That comes with the nature of cryptos ("your keys, your money"). I admit that will be an issue in the future too unless someone finds a way to deal with that.
Scalability continues to be an issue, there are always going to be trade-offs in terms of anonymity, speed, security and decentralization.
What are the disadvantages of cryptocurrencies.
Scalability,Cybersecurity issues,Price volatility and lack of inherent value,Regulations.
You can't generalize all of that things as disadvantages of crypto. You may wrong about that. Crypto has nothing to do with the regulation and the new platforms have been fixing all of problems just like scalability. There will be no also perfect code and it needs to be audited anytime to make sure that if there was no critical bug in the code. Did you know economy 101? Volatility was an advantage for crypto. If you didn't want volatility and why don't you just keep your money into the fiat form rather than use crypto? You can make money caused by volatility and it's a non sense thing to blame it as the disadvantage for the crypto. I think that you need to think again about that. Scalability,Cybersecurity issues,Price volatility and lack of inherent value,Regulations.
Security is only an issue to those projects that don't focus on it. It's simple these days to make a coin if you know someone that can do that. But upon doing it, the issue starts there because the security isn't tight and if you're in a budget, don't expect that there's much security tightness being installed as these projects being made. But for serious projects, it's one major concern that they shouldn't allow to pass their security checking because it's important.
Cybersecurity issues
What kind of "issues"? Most of the "hacks" are due to the BTC owners' fault. Sending hoping to get 2x your money from Elon Musk, downloading crap off the web, opening unsafe executables, PDFs etc.Transparency...
I agree but just to an extent. I am an advocate of privacy coins, and studying them made me realize that transparency isn't always good. It's good as long as all parties are fair and have good intents. Otherwise, things could turn dark and creepy so quickly - see Chainalysis.
About Airdrop Pepe
What is the project about?
Airdrop Pepe (AIRPEPE) is a community-owned meme token which airdrops its half supply to the community. It comes with renounced ownership, burned LP tokens, no reserved team supply and no taxes.
What makes your project unique?
With half the supply airdropped to our community, the contract ownership renounced and 100% of the LP burned we're a truly community-owned meme token.
History of your project.
We're a new project which just stealth & fair launched. Our team, however, is very experienced with DeFi and is aiming to build something big.
What’s next for your project?
The next step on our roadmap is our airdrop where we give away 50% of the total supply.
What can your token be used for?
We're planning to launch several DEX tools in the near future, including an own swap and staking options.
CLAIM Airdrop
What is the project about?
Airdrop Pepe (AIRPEPE) is a community-owned meme token which airdrops its half supply to the community. It comes with renounced ownership, burned LP tokens, no reserved team supply and no taxes.
What makes your project unique?
With half the supply airdropped to our community, the contract ownership renounced and 100% of the LP burned we're a truly community-owned meme token.
History of your project.
We're a new project which just stealth & fair launched. Our team, however, is very experienced with DeFi and is aiming to build something big.
What’s next for your project?
The next step on our roadmap is our airdrop where we give away 50% of the total supply.
What can your token be used for?
We're planning to launch several DEX tools in the near future, including an own swap and staking options.
CLAIM Airdrop
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