Topic: Be careful using cryptocurrency (Read 212 times)

Thank you for this wonderful speech i hope many will believe and buy your sentiments as i am almost trusting all of you'd mentioned

Anyway youre right when you said that not all cryptocurrency can be use as currency because many are just made for scams and profit of the dev so be aware of what you are investing

I don't think this is a problem at all to be concerned about because there are abundance of several exchange sites both centralised and decentralised where there crypto you are holding can be seamlessly converted into bitcoin and you can use it for whatever you want to do. Exchange sites list 100s of coins that you can choose from.


I would want to know the side that you belong to because the only argument I can see here as to why bitcoin is not worth investing based on your opinion is because of fluctuation as this is just the exact reason that attract people in the crypto world as the fluctuation gives room for profit to be made. All you need is to understand the right time to enter the market and you are good.

There is need for you to really understand the potential of this market and all the challenges you have identified can actually be seen as opportunities for others and you can join in if you are ready to learn.

Do you think that this is a flaw?I actually think that this is an advantage.Do you want some government to control the cryptocurrency prices?It`s true that the crypto markets are manipulated,but when more traders join and the regulations are improved,there will be more transparency and competition,which will reduce the manipulation.

With all the advantages of cryptocurrency, you might wonder why the entire world doesn’t produce it and use it for transactions. Because, like everything in life, there are pros and cons. Although the concept of cryptocurrency, especially bitcoin, is to build a digital and secure collaborative system, it’s true there have been cases of theft and piracy. In recent months, we’ve seen the news of ethereum theft, the second most important cryptocurrency on the market, through the hacking of an Israeli startup’s website. Cybercriminals take advantage of the currencies’ possibilities to make completely anonymous and untraceable payments, and ask for ransom to release stolen data using these digital currencies.

If the concern is to be very careful I think the only thing we need to do is trust bitcoin. A newbie should be very observant the situation and the progress of crypto currency and if you want to accept cryptocurrency as payment it is better to choose bitcoin like many others do. Seeing that bitcoin is accepted as a payment in some kind of transaction is a big thing to have confidence on it than to other cryptos.

We have enough years of history pointing out that most people don't care what they invest in as long as it is volatile and cheap, which is exactly what altcoins are. Noobs and altcoins is a match made in heaven.

I guess we just need to accept that people will continue to invest in shitcoins. It's their money they throw around with, so it's their problem if they end up losing big time. Some will learn and some will keep making mistakes.

In the end all this is called freedom, let people experiment.

I agree with you, investing in altcoins becomes very dangerous because many altcoins have no use in real life and are created by scammers, but if the investor does research he can invest and make profits


I disagree, if the person does good research and has deep knowledge of altcoin and knows that altcoin has use in real life, then that person can invest


I also agree

Crypto currency is a good investment for long term so all the investors are carefully pick the right platform and many useless projects are available in the market so right traders are carefully choose the best platform. But few beginners are blindly choose useless projects so everything our own  decision in crypto investment.

You have 50% right. Most of cryptocurrency can be used for daily payments. And others cryptocurrency are scam coins, but this days is a bit hard to find scam projects and the others who are legit.

And yes not all coins worth investing, because you invest and after some time the value drops 10x or 100x in some cases.

There are many advantages of us using bitcoin and one of those advantage I think is trust.  Cryptocurrencies bring trust into human relationship and transactions. That was the kind of system God created us to be and I always tell people that cryptocurrency is restoration.

What is your point here?

1. You can exchange your crypto-to-fiat. Now you can used it as currency. Lol. I agree that there's still not lots of merchants accepting bitcoin as mode of payment. But I'm optimistic that we see crypto as the main currency to buy things online and send remittances in a global scale.

2. Not worth investing? Fluctuations is the norm in crypto market. If you are here to make quick money, then yeah, its not for you. Better look for other options. But if you know how to play price swings on your favor, then it has the potential to make you money.

3. As investors, I don't think that you will just put your hard earn money in crypto. Of course you have to learn and understand it because you make your first investments. That's true for any other investment platform. Again, is someone is dumb enough to just invest on something you don't understand, then its your fault and not the market.

Not all cryptocurrencies can be used as currency
Exactly, there are quite some token that is use more towards on utilities and those would not be used as currencies.

Not worth investing
For this point, i feel it is kinda subjective here. Although it may or may not be true because every coin has different strength and use cases
Just like Gold, is gold worth to invest? Its the ideology behind the believe of something

Bitcoin is currently one of the popular currencies used by people. Even merchants who use Bitcoin as a means of payment also exist in some countries. Bitcoin itself becomes a warm conversation. At its all time high, the Bitcoin price was once equivalent to one troy ounce of gold. With its success, today many emerging similar currencies. Because the price is fantastic, Bitcoin is very popular among the public at this time. With the success of Bitcoin, many currencies are now emerging. Other cryptocurrency examples are Ethereum, dogecoin, litecoin, mrai, dashcoin, and many more.

Cryptocurrency does not have any monetary policy restrictions from any country, so it is simpler to travel abroad. Using bitcoin does not require physical transactions, making it easier for customers to transact. Compared to currency where you have to change your rupiah currency in money changer first, then cryptocurrency is more reliable

There are many conveniences and benefits provided by cryptocurrency, ranging from ease of payment, slowing of bitcoin growth, increasing global acceptance and very easy opening of accounts, but with all the convenience, you have to be careful of using cryptocurrency as a means of payment. There are some shortcomings that you should be aware of like ...

Not all cryptocurrencies can be used as currency
Currently, the most easily accepted as a means of payment is bitcoin. If you 'mine' or use other cryptocurrencies, then you have to be very careful. Do not be fooled by an offer to buy another cryptocurrency.

Not worth investing
It is true that the value of cryptocurrency capitalization increases over time. But the fluctuation is very unpredictable because no one country controls this digital currency. Do not let your inexpensive offer to invest in cryptocurrency. Use it for easy payment or as your side income.

Easy to use for unclear investments
In the absence of a regulator that controls this digital currency, there are also many unclear investments by using cryptocurrency. Ponzi schemes and money games thrive thanks to this digital currency. Beware of investment offers using cryptocurrency. No money is easy to get.

There are many benefits to cryptocurrency, but it's also true if you have to be careful if you want to do something on cryptocurrency, so little knowledge of me, if there is a misunderstanding I apologize as much as possible.