Advantages Of Crypto, Disadvantages of Crypto

fadil46

full member

Activity: 826

Merit: 101

$CYBERCASH METAVERSE

Quote from: noah tall on November 04, 2021, 08:39:33 AM

You can get advantage from crypto currency market when you know about the crypto wallets security. And when you lean about the marketing and also about the signle and season of crypto.
Its can make you financialy strong. It is very easy to buy and purchase. You can easily send crypto abroad.

Buying is easy, but after buying it also needs a way to monitor it and maintain it properly, because playing with money that can be converted into any form in cryptocurrency is a job that is always close to risk and that must be understood by everyone.

Hobo66

hero member

Activity: 1344

Merit: 502

Almost every individual are engage in cryptocurrency. It provides easy and secure way of payment. It can be readily and rapidly accessible by every individual wherever in the world. But one of the disadvantage of cryptocurrency is that it is very fluctuating. No one has surety about the loss and gain in cryptocurrency. it is extremely volatile.

noah tall

full member

Activity: 524

Merit: 100

You can get advantage from crypto currency market when you know about the crypto wallets security. And when you lean about the marketing and also about the signle and season of crypto.
Its can make you financialy strong. It is very easy to buy and purchase. You can easily send crypto abroad.

FanEagle

legendary

Activity: 2884

Merit: 1117

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

Scalability,Cybersecurity issues,Price volatility and lack of inherent value,Regulations.

1. Scalability is not an issue with most altcoins as they have quicker blocks and higher blocksize.
2. Security of your crypto is up to you. Simply a strong password will protect you everywhere.
3. Being volatile should be considered as an advantage rather than considering as a disadvantage as all traders and investors love it. You need to be skilled to fish here.
4. Inheriting your cryptos to your decedents if your basic responsibility. Same as any other digital things.
5. Regulation is something we must expect. Still cryptos are created for privacy and freedom. So, we need to build a system to regulate ourselves in way the true concepts of cryptos will not be disturbed.

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

Fast and Inexpensive

All electronic payment systems are faster.
Being inexpensive is something we must consider as a biggest advantage of cryptos. But, due to scalability issues we have issues on this advantages and I guess it will be resolved as early as possible.

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

Decentralized issuance, Lower fraud risks and Transparency...

These are unique advantages of cryptocurrencies that we could enjoy and we need to remember these are beyond imagination for a financial system till bitcoin arrived. So, overall cryptos are having more advantages than disadvantages.

Natalim

hero member

Activity: 3094

Merit: 606

BTC to the MOON in 2019

Quote from: whiteblue on November 03, 2021, 11:27:28 PM

Quote from: kensaii on October 19, 2021, 01:02:54 PM

I think the biggest disadvantages of crypto and the main obstacle for it to become mainstream is how unstable and price volatility it is. Many other disadvantages can be addressed and resolved but this one is kind of dilemma since because of this, many people also become attracted to crypto.

The volatility of cryptocurrencies can also be a very good key in terms of exploiting profits although the potential for losses is still there and also very close, but for those who dare to act and understand how to run it, then it is a good opportunity to try it.

I agree on you. Volatility will always be an issue when it comes to crypto adoption. The citizens will certainly be confused on the amount of crypto as it has no fixed value, and is prone to changes once price fluctuations happen. However, if its a barrier for crypto adoption, well it is an asset for crypto to have price volatility and decentralized nature that makes people to stay more in crypto. With price volatility, there's always a chance for all investors to get rich quick once the new ATH for a certain coin is achieved.

adamantasaurus

sr. member

Activity: 728

Merit: 255

most definitely these fckn eth fees I don't even wanna say how much money I paid in fees in just the last 6 months its completely ridiculous and unsustainable. They need to get this shit fixed asap vitalik needs to get off his ass and do something about these fees. but other than that unless youre completely unaware of the risks in crypto there is only good things about it.

Your keys your money nobody can take it from you completely decentralized etc. etc.

whiteblue

sr. member

Activity: 1246

Merit: 250

Quote from: kensaii on October 19, 2021, 01:02:54 PM

I think the biggest disadvantages of crypto and the main obstacle for it to become mainstream is how unstable and price volatility it is. Many other disadvantages can be addressed and resolved but this one is kind of dilemma since because of this, many people also become attracted to crypto.

The volatility of cryptocurrencies can also be a very good key in terms of exploiting profits although the potential for losses is still there and also very close, but for those who dare to act and understand how to run it, then it is a good opportunity to try it.

kensaii

full member

Activity: 396

Merit: 106

I think the biggest disadvantages of crypto and the main obstacle for it to become mainstream is how unstable and price volatility it is. Many other disadvantages can be addressed and resolved but this one is kind of dilemma since because of this, many people also become attracted to crypto.

indah rezqi

hero member

Activity: 1512

Merit: 874

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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...

Cybersecurity level?
The advantages of cryptocurrencies can cover the disadvantages of cryptocurrencies as you mean in this topic. Just imagine one of the advantages of the crypto you mentioned, namely speed. Process speed like that is what many people want in real financial transaction activities and there is one more thing that is the level of transparency.
I don't understand what cybersecurity problem you mean. Can you explain.

aylabadia05

hero member

Activity: 1540

Merit: 772

Quote from: TWW on October 17, 2021, 10:04:42 AM

Quote from: ?? on ??

Quote from: aylabadia05 on October 17, 2021, 05:33:49 AM

Cryptocurrencies are highly transparent and the risk of fraud is low. What do you think can prove that cybersecurity issues can harm cryptocurrencies?
In fact, there are so many advantages of cryptocurrencies that can cover the existing shortcomings and you are one of the people who believe what I say.

Cryptocurrencies do have things that are very transparent, but you also need to realize that in cryptocurrencies there are also very many useless new things which are made by scammers whose purpose is only to deceive many people who are already in cryptocurrency.

These are just a few examples of people using crypto for their benefit in a negative way.
on the plus side, scammers also know how the crypto market and industry are very productive. and it is increasing rapidly. Everyone, good or bad, will come when they see an opportunity. they get advantages and benefits in their way.

We can't say negative yet if it's true what they do as you mention. For me it's part of their strategy to make a profit and I also think if that's true it's seeing opportunities. But what we need to clarify here is how cybersecurity can harm cryptocurrencies.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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...

Scalability? There are lots of good coins that are very scalable. It's an issue for some coins and solutions do exists. Cybersecurity? Crypto currencies are very secure. Now its up to you how to handle and store them. If you get lousy, you will lose your coins. That's your an issue with you, not crypto currencies. Afraid of price volatility? Use stable coins. And how is regulation a disadvantage of crypto currencies?

justdimin

hero member

Activity: 3164

Merit: 675

www.Crypto.Games: Multiple coins, multiple games

Quote from: ?? on ??

It's very precise and it has become a challenge for cryptocurrencies basically and for people who are in cryptocurrency in general, so I don't think it needs to be thought about anymore at this time because there have been examples of similar ones in the past.

Unfortunately there is a good chance that anything China does will be a news and it will cause a drop in the long run as well. It will be a short term drop but it will happen in the long term as well. It will happen at least a few more times and people will care about for a while as well and that is not going to change.

This is not really limited to china neither, any bad news will be seen as a bad FUD and it will have a problem in the crypto. This is why we need to learn how to ignore them if we would like to make a profit like the whales but we are not going to see too many people doing that and this is going to be the difference between us and the ones who lose money.

bitzizzix

sr. member

Activity: 2366

Merit: 448

Enjoy 500% bonus + 70 FS

The first drawback or weakness of crypto is that it has the potential to violate the law, and this is due to regulations in several countries that prohibit the existence of crypto.
and also the high volatility that has become a part of crypto, and besides that it is still vulnerable to high-risk fraud and losses.
and the advantages of crypto are good and promising investments as well as easy access and very fast and transparent transactions, as well as the freedom to use them and so on.
Regardless of the advantages and disadvantages of cryptocurrencies, the assessment and decision remains in the hands of the individual and requires knowledge, understanding and also wisdom in weighing and deciding the cryptocurrency exposure in your investment portfolio, but over time after learning and understanding everything from experience and losses are less likely to occur.

Teknisi88

full member

Activity: 1050

Merit: 104

Every investment instrument certainly has advantages and disadvantages. For this reason it is very important for you to find out the advantages and disadvantages of the investment instrument that you will choose as a consideration and see if the investment instrument is suitable or not for you.

mdzahed134

sr. member

Activity: 2226

Merit: 259

Buzz App - Spin wheel, farm rewards

I'm not clear what do you mean regarding Cybersecurity in crypto. I see a lot of advantages instead of only one or two disadvantages. First of all, it’s a decentralized so no one can interfere with your money even the government. Huge possibility to rich an overnight. Within a few second you can make transfer/receive money from anywhere.

Ziskinberg

hero member

Activity: 3010

Merit: 666

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

What are the disadvantages of cryptocurrencies.
Regulations.

Sometimes regulation gives more advantages than disadvantages, so as for me, it should be on the advantage side.

We all know that crypto should promote anonymity as it's decentralized, opposite to what our government is doing, but we cannot neglect the fact that no matter what happens, we need their support in order to grow its adoption, and that support is called regulation.

Jackl87

sr. member

Activity: 1722

Merit: 269

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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...

Scalability really seems to be the problem of a lot of the old and established crypto projects at the moment. I sent a BTC transaction a little while ago and it took more than a day to finally get through even though i used the recommended transaction fee. That is just way to long if you want to use BTC as a payment, but BTC is more of a investment like gold anyways nowadays. The same is also true for Ethereum though and that is really bad, as a lot of projects are based on Ethereum because of the smart contract functionality and it really hurts, if you have to pay 30$ to send some tokens or even more if you want to make a trade on uniswap.

hannahB4

member

Activity: 532

Merit: 13

I have heard of many Crypto crime but is not has a result of any feature from Crypto it is has a result from its users. For me is an easy way of investment in this digital age and time

Rana590

sr. member

Activity: 1750

Merit: 267

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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...

Police issues don't exist where crypto is acceptable as a legal currency. Besides crypto haven't enough regulations. If we think about advantages and disadvantages, we'll be able to find out more advantages than disadvantages. We should use crypto for daily use to increase the field of crypto.

gabbie2010

sr. member

Activity: 2842

Merit: 326

Vave.com - Crypto Casino

Quote from: Al Qiyamah on October 17, 2021, 04:06:01 AM

The advantage of cryptocurrencies is that there is no third party controlling our money in the crypto world, we can do what we want with our money without having to involve a third party. but that is also what can be one of the drawbacks of cryptocurrencies, when we lose our money in the crypto world, there is no party we can demand to get our money back.

Transaction of my coins anonymously without any any third particularly P2P transactions is an important advantage of cryptocurrencies, though in some instance the bank might transfer the fiat of the buyer to the seller of the coin after escrew has confirmed the transactions, I just like this type of deals, more so I prefers hodling my coin in my wallet as a store of value rather than to save it in the bank as fiat, though hacking of wallet and exchanges is rampant in cryptocurrencies system which is a big disadvantage however with a proper security such a challenge can be surmounted.

Doell

hero member

Activity: 2156

Merit: 531

advantages or disadvantages depends on the coin or its product ,crypto coin are not one but a lot and the most advantages so far is bitcoin safe fast low cost freedom ,other coins need 6 up to 50 confirmations so they can be used besides that sometimes are fee expensive ,the most common of all crypto is high security

Coin BTC

member

Activity: 721

Merit: 19

Trident Protocol | Simple «buy-hold-earn» system!

About regulatory pressures are nothing new to the crypto market. Some analysts continue to monitor the China government's crackdown, which usually occurs when the crypto market is volatile. Earlier in May, China banned financial institutions and payment companies from providing services and transactions using cryptocurrencies. China also issued similar bans in 2013 and 2017.

Devifajarina

full member

Activity: 602

Merit: 102

Trident Protocol | Simple «buy-hold-earn» system!

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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...

This is complete, but there are many things that make cryptocurrencies lose because of our greed and negligence, without considering the risks that will arise, so that we cannot solve the problem, while the advantages of cryptocurrencies are quite a lot of ways that we can do, starting from investing, trading or trading. join the bounty program. But don't forget, there are rules we have to follow from many things you mentioned, otherwise big problems will arise?

CrossroadBTC

member

Activity: 182

Merit: 14

The hack part isn't crypto disadvantage but the users/owners faults, I've never heard about BTC getting compromised by hackers or any kind, I've only heard about stolen private keys either through mail scam or phishing which clearly is users fault

lumierre

full member

Activity: 862

Merit: 100

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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...

Initially, crypto was created to bypass intermediates such as banks and other payment system, so actually, we can transfer any sums of money to anybody and nobody can ban our transaction. What is more, we don't have to trust a bank if we want to store our money as all money are in safety if you have cold wallet and don't share your private keys. So the main advantages are the safety and freedom.

Luffygroove

member

Activity: 966

Merit: 25

Ton Together | Save Smart & Win Big

I think what's unique from Bitcoin is the advantage might be its own disadvantage and vice versa. If we see from a different perspective we'll see different things from Bitcoin.

For example, it's price volatility. Do you think people are still interested in cryptocurrency if it's not that volatile?. This volatility enables people to gain maximum profit from the trading, things that other commodities don't have. On the other sides, like you said it can be a disadvantage cause we can't actually really keep it in peace because today the price can come up but 5 minutes later it goes down. People can be a winner, but other people could be the losers.

kidbounty

full member

Activity: 1064

Merit: 101

HELENA

Quote from: 20kevin20 on October 16, 2021, 04:56:28 PM

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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.

yes you are right most of the security issues are caused by the users themselves. for blockchain, I think it's very good. This technology is very secure and transparent. so I think cyber security issues are not a drawback for crypto. the only weakness of crypto for me is its volatility. if the price movement of crypto is calm enough like gold. maybe this will be perfect.

TWW

full member

Activity: 1456

Merit: 109

Quote from: ?? on ??

Quote from: aylabadia05 on October 17, 2021, 05:33:49 AM

Cryptocurrencies are highly transparent and the risk of fraud is low. What do you think can prove that cybersecurity issues can harm cryptocurrencies?
In fact, there are so many advantages of cryptocurrencies that can cover the existing shortcomings and you are one of the people who believe what I say.

Cryptocurrencies do have things that are very transparent, but you also need to realize that in cryptocurrencies there are also very many useless new things which are made by scammers whose purpose is only to deceive many people who are already in cryptocurrency.

These are just a few examples of people using crypto for their benefit in a negative way.
on the plus side, scammers also know how the crypto market and industry are very productive. and it is increasing rapidly. Everyone, good or bad, will come when they see an opportunity. they get advantages and benefits in their way.

glendall

legendary

Activity: 2156

Merit: 1018

Buzz App - Spin wheel, farm rewards

for me a good advantage offered by cryptocurrency is as anonymous in cryptocurrency I can store funds in cryptocurrency and no one knows only me knows. (this is just one of the advantages that crypto gives me personally and many more )
drawbacks , i guess lack of shops or payments that accept crypto money ,
For cybersecurity issues: I don't think so, because if we are vigilant and careful we will definitely not be caught in this case

Fivestar4everMVP

legendary

Activity: 2422

Merit: 1083

Leading Crypto Sports Betting & Casino Platform

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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...

Well, you really don't understand fully the advantages of crypto currencies if this few you mentioned here are the only ones you could come up with.

To me, crypto currencies are highly advantageous compare to its disadvantage, Infact, i personally don't see any disadvantages of crypto as a real disadvantages, the time we will see the real disadvantages of crypto is when it becomes fully mainstream, when it becomes the only means of exchanging, buying and selling of goods and services all over the world, maybe then, we will discover that the only disadvantage will be that our non learned old parents will have a really hard time understanding how to use it, which to me, is still not a disadvantage cus they can be taught how to.

aylabadia05

hero member

Activity: 1540

Merit: 772

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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...

Cryptocurrencies are highly transparent and the risk of fraud is low. What do you think can prove that cybersecurity issues can harm cryptocurrencies?
In fact, there are so many advantages of cryptocurrencies that can cover the existing shortcomings and you are one of the people who believe what I say.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

There are many more disadvantages and advantages of cryptocurrency that we do not know yet because not many countries now are not accepting crypto and that is one of the disadvantages of crypto. But out of that, people who want to involve in crypto will think about how they can make money from crypto and maybe that is their main reason why they want to join in crypto.

They do not care about the advantages or disadvantages because as long last they can make money from crypto, they will accept everything about the advantages or disadvantages because they can benefit from crypto.

dhemasm

full member

Activity: 1829

Merit: 134

Moderator

Quote from: jrrsparkles on October 17, 2021, 01:38:02 AM

The greatest advantage of cryptocurrencies is decentralization, no one hold your funds only you are in full control of your money which lacks in Fiat monetory system. Disadvantage again the decentralization made the prices to be highly volatile so it makes cryptocurrency not fit for using payment in day to day usage.

Yeap, The most important one is Decentralization but it's have some backwards, With crypto we are controlling our money without any centralized entity but that's means if our fund stolen or anything like that we can't do anything beside the price was usntable since no one controlling it also there are some scalability issue for example like congested Ethereum network, it's normal though since it's only 10 Years from the first crypto created and today there already tons of improvement to fix this. There will be always advantages and disadvantages but crypto offering more advantages rather than disadvantages.

Al Qiyamah

full member

Activity: 994

Merit: 100

The advantage of cryptocurrencies is that there is no third party controlling our money in the crypto world, we can do what we want with our money without having to involve a third party. but that is also what can be one of the drawbacks of cryptocurrencies, when we lose our money in the crypto world, there is no party we can demand to get our money back.

adiebitsler

hero member

Activity: 1106

Merit: 509

Quote from: SlimShadyMmp on October 16, 2021, 06:28:08 PM

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)

Where will you get the advantage if you always don't want to meet bulls and bears?
because buyers always expect these two things to turn their capital into a very attractive profit in the crypto space.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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...

The greatest advantage of cryptocurrencies is decentralization, no one hold your funds only you are in full control of your money which lacks in Fiat monetory system. Disadvantage again the decentralization made the prices to be highly volatile so it makes cryptocurrency not fit for using payment in day to day usage.

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

Quote from: ?? on ??

One of the biggest advantages of crypto for me is the freedom wherein we don't have in the fiat currency, you are anonymous in cryptocurrency and that's what I want it the most, the high risk and high reward is also what I want here, even though I have lost a lot of money in crypto before especially when I was a newbie, still, I earned even more than lose money.
The cybersecurity issue is not a problem of cryptocurrency, it is a problem of a user itself, you got scammed and you are responsible for it, that is your fault.

And the biggest disadvantage is that cryptocurrencies are not widely accepted in brick and mortar stores. BTC is close to becoming mainstream but it's still not very familiar to everyone store owners. All they want is the fiat and if they even want digital transactions it's going to be debit/credit card transactions which are even slower than any altcoins today. Sad to say they don't even realize that too.

One advantage that I like the most is that you have your money right with you all the time especially if you memorized your 12 words. Is like bringing your money with you all the time.

dupee419

sr. member

Activity: 1344

Merit: 261

Quote from: 20kevin20 on October 16, 2021, 04:56:28 PM

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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.

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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.

I guess what the OP is trying to prove is that hackers can easily access wallets, which is true, but mostly is the fault of the owners, storing your crypto on an online wallet is quite risky, otherwise, I don't think there's really a big disadvantage about crypto but more advantages to it actually, we don't get these features around fiat, we don't encounter volatility or constant bullish/bearish seasons around fiat, so I think there's more of advantages rather than the disadvantage/s.

Transparency is good on some aspects but not to the extent of making everything transparent or public, privacy is also needed.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

Privacy from your wife or your mom. Grin

You can keep it in cryptocurrencies and they will never know even if they search the whole house.
Kidding aside that's one reason for some people, privacy. Security though is the one more good reason I've been pulled into it. Not that I distrust the banking institution but I want to be the manager of my own savings which I can control whether I like to withdraw or deposit.
The other thing is the volatility. It can be both an advantage or a disadvantage but if you know what you are doing then it will mostly be an advantage.

isaac_clarke22

sr. member

Activity: 1610

Merit: 264

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

~

What cybersecurity issue are you talking about, OP? Unless that you are using a custodial wallet, then you should be just fine.
Your kind of mixing it up with "decentralized issuance" as well.

"Not your keys, not your coins"

Rufsilf

sr. member

Activity: 1778

Merit: 309

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.

gwdf1

full member

Activity: 680

Merit: 103

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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.

SlimShadyMmp

full member

Activity: 1470

Merit: 103

COMBO 2.0

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)

sheenshane

legendary

Activity: 2492

Merit: 1232

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.

o48o

legendary

Activity: 3038

Merit: 1166

Leading Crypto Sports Betting & Casino Platform

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

What are the disadvantages of cryptocurrencies.
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.

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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.

bhadz

hero member

Activity: 2520

Merit: 568

Payment Gateway Allows Recurring Payments

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.

20kevin20

legendary

Activity: 1134

Merit: 1598

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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.

Quote from: Coin BTC on October 16, 2021, 04:23:31 PM

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.

Coin BTC

member

Activity: 721

Merit: 19

Trident Protocol | Simple «buy-hold-earn» system!

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

Topic: Advantages Of Crypto, Disadvantages of Crypto (Read 382 times)