that is both i believe, you can exchange it for other digital and non digital products and coins/tokens, store it to save and multiply value, it is not accepted as wide as fiat but posesses all essential properties to quilify for limited use currency and assets if you decide to invest
Currency means which can be used for buying something and crypto can do the same for you not in all places but in many places, and asset mean the investment from which you have started your business so it is also a business because as many crypto you buy and hold them for some time it will give you a huge profit. Therefore I realize that crypto is a currency and an asset as well. 
Topic: Crypto is an Asset or Currency? - page 17. (Read 3385 times)
Due to limited acceptance, today crypto is much more an asset than a currency (in usual economy, you can have some use for bitcoins, but altcoins are completely useless). But hwen the situation will be more clear, good crypto will be uses as currency.
it is not important to argue crypto as a digital currency or asset because crypto covers both. the most important of the crypto you can have income or increase your wealth
Yes, the main essence of crypto is basically to serve as a currency anyway against the centralized system we have always had that is being controlled and affecting the normal masses with all the strange and crazy policies by the banks.All the above, now, we tend to see more of the asset part of crypto as most people prefer holding what they have than spending with the hope that someday, it is going to end up being valuable, which all started with the rate at which bitcoin increased in value within the years.
I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?
What is your opinion?
altcoin is a currency value of altcoin that is estimated at the value of usd so it is not a property. All altcoins on the crypto are currencies. What is your opinion?
Originally bitcoin a cryptocurrency was introduced to reduce or eliminates problems faced by common people while doing cash transactions and banking operations. It posses all the functions of a good currency. It has quiet less settlement time and charges. But due to lack of knowledge and specific hardware required for doing day to day trade bitcoin use as a currency get restricted. Its limited supply and growing demand is pushing its price up regularly. As a result more and more investors getting attracted towards bitcoin. Bitcoin is the highest return giving investment. It has given its investors far more than they ever expected. Its more popular as an asset than a currency.
Well some cryptocurrencies are a great assets and at the same time a currency. Because when you have some amount of bitcoin in your wallet and you leave it for a long time you stand to gain from your investment and at the same time holding a great assets in your hand. And secondly you can also use bitcoin or other cryptocurrencies to pay for goods online or exchange your bitcoin to faint money and use it to pay for goods and services in the local market. So bitcoin is an assets and a currency.
Bitcoin and other crypto can an be called an asset and it can also be a currency. I can say "Both" because currency also is considered as asset, if you have a currency then that is an asset. I mean an asset is that a thing you own that is most valuable and that crypto is a valuable thing.
For now in most cases crypto is an asset, in not so many countries there is an opportunity to cash them out or to pay in retail stores. But I don't deny the possibility that in some 2-3 years this will change and the currency features of the crypto will be able to be applied.
I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?
What is your opinion?
Bitcoin is a digital currency that was created by technology in this digital world to enable us to benefit its usage in doing easy transactions using addresses and barcodes,it is also considered as a digital asset because as times flies and holders hodl their bitcoin it will become more valuable through demands in the market that supplies cannot cater the whole world its price pumps up so most people hold their btc as an asset for future usage. What is your opinion?
Digital assets and crypto-currencies are still new products in the world of finance. Therefore, it is not surprising that the interpretation of these concepts raises certain difficulties. Many people confuse these concepts and call the crypto currency a digital asset, but these products differ from each other, and above all, the management method. There are certain differences between the two types of financial instruments.
Crypto is definitely is an currency but people are using it as an asset buy using its rapid price increase.
But crypto was found to use as an online currency with anonymous transactions so no one hack or trace our transactions.The first crypto was bitcoin the value of bitcoin when launched was less than dollar but now it is at $16K still increasing.So people think that is an asset if e have that crypto then we can earn good profit in future.
There is no doubt in this fact that the job description of digital currencies has been changed over the course of time. Initially these currencies were developed as you said to make online transactions but now people are using them as mode of investments than as mainstream method of making transactions. The ever growing market values of these coins are forcing people to treat them as investments than as currencies. But crypto was found to use as an online currency with anonymous transactions so no one hack or trace our transactions.The first crypto was bitcoin the value of bitcoin when launched was less than dollar but now it is at $16K still increasing.So people think that is an asset if e have that crypto then we can earn good profit in future.
Most especially for bitcoin, and this is not really good as far as I am concerned as this is the main reason that should drive the value up, which is being a currency.
I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?
What is your opinion?
As has been explained to all of us that crypto is a non-currency asset because if crypto in that currency will cause problems to the existing bank in a country and if crypto is used as currency for transaction then the transaction is not valid in law because one- the only thing that can be done in a transaction is money in the country. Therefore, bitcoins are made in assets to prevent misunderstandings from occurring.What is your opinion?
The only different thing between most crypto and fiat based system is that it is a decentralized environment and which is one of the reasons why countries are banks are a little bit skeptical about its usage as a currency. However, the decentralized system as well is what makes it both volatile and also serve as an asset due to the demand and supply.
It depends. At this point i'd call Bitcoin an asset although originally it was a currency.
If I analyze deeply the nature and use of crypto currency they are mostly has the characteristic of an investment which falls other the category of trading investment rather than a currency but I believe bitcoin started as a currency which is the purpose but people tend to earn from cryptos because of its volatility. We can't have a clear-cut regarding the account classification of cryptocurrency and I think this will soon be an accounting issue.
It is really not like we cannot have a clear cut characteristics of cryptocurrency. It can definitely serve as both and it all depends on the angle each and everyone tend to see it anyway. There are some people who still make use of the currency aspect of it even today, while some do not and prefer holding based on the asset characteristics of it. Crypto is still new and this is expected, and surely, someday, we may see things being different.
crypto is both currency and an asset at the same time because it can be used in both and applicable to both of them like for example i can use my crypto as a form of investment and other times i will also like to buy things online using my crypto for a convienient shopping and to avoid much hassel when compared to credit or debit cards and any other payment method that requires your important information. cryptos can also be used on trading , sending payment or recieving , mining , etc. therfor crypto can be anything or it can be a multiprpose tool and not just an asset or a currency.
Crypto is definitely is an currency but people are using it as an asset buy using its rapid price increase.
But crypto was found to use as an online currency with anonymous transactions so no one hack or trace our transactions.The first crypto was bitcoin the value of bitcoin when launched was less than dollar but now it is at $16K still increasing.So people think that is an asset if e have that crypto then we can earn good profit in future.
There is no doubt in this fact that the job description of digital currencies has been changed over the course of time. Initially these currencies were developed as you said to make online transactions but now people are using them as mode of investments than as mainstream method of making transactions. The ever growing market values of these coins are forcing people to treat them as investments than as currencies. But crypto was found to use as an online currency with anonymous transactions so no one hack or trace our transactions.The first crypto was bitcoin the value of bitcoin when launched was less than dollar but now it is at $16K still increasing.So people think that is an asset if e have that crypto then we can earn good profit in future.
I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?
What is your opinion?
As has been explained to all of us that crypto is a non-currency asset because if crypto in that currency will cause problems to the existing bank in a country and if crypto is used as currency for transaction then the transaction is not valid in law because one- the only thing that can be done in a transaction is money in the country. Therefore, bitcoins are made in assets to prevent misunderstandings from occurring. What is your opinion?
it is not important to argue crypto as a digital currency or asset because crypto covers both. the most important of the crypto you can have income or increase your wealth
Crypto is a currency, people call it cryptocurrency. Its much better than paper money, its fast, uncounterfeited, and secure. The strongest cryptocyrrency is bitcoin but there many type of cryptocurrency that we call altcoin.
If I analyze deeply the nature and use of crypto currency they are mostly has the characteristic of an investment which falls other the category of trading investment rather than a currency but I believe bitcoin started as a currency which is the purpose but people tend to earn from cryptos because of its volatility. We can't have a clear-cut regarding the account classification of cryptocurrency and I think this will soon be an accounting issue.
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