Topic: Why Cryptocurrency is better than fiat currency? (Read 1507 times)

currently still under development to introduce this crypto technology because some people in the world still do not know this technology directly. maybe if they find out then adoption in the use of bitcoin will be even better and countries may accept bitcoin to solve the problem of financial transactions.

Which is very far from now, as we are still in the process of adoption or acceptance in the world, as we know that there are people, governments, countries, business men that were not yet in favor with this kind of industry as they think that crypto was a big scam and that this will also vanish in time and that this will not fit the world.

Cryptocurrency will be better if they are accepted anywhere, like in local stores or everyone will use it even they don't like to use it. it make more convenient if we use it without internet or power energy like fiat. that's make crypto better if one of that will possible to happen, but for now crypto is better in purchasing online, we can use it fast and time saving.

Yes, it is becoming regulated - AMLP/KYC/FATF Guidelines are trying to make a cryptocurrency environment as similar to banking system/wire transfers as possible (what is forming some obstacles which are practically impossible to be fixed). The worst possible scenario is that there will be a list of cryptocurrencies regarded as a pure investment (eg. Bitcoin), which can be traded only if you have a crypto-broker license.

Bitcoin is better than fiat to me for below these reasons -

* Easy to send & Recieve.
* Easy to hold.
* No Fees when holding.
* No need to give transaction explanation like we do when fiat transaction.
* Privacy.

Now tell me why you wouldn't use Bitcoin/Crypto instead of Fiat currency. As Crypto is obviously better than fiat.   

I think cryptocurrency is just futuristics and easier to use because it is portable and secured compared to fiat currency that could easily stole from everyone and also could be destroyed.
But more like cryptocurrency is not yet used since the technology needs to keep up so that it could easily be implemented in the community compared to fiat money which uses already the traditional way.

Honestly their both good form of payments and asset, some people just prefers cryptocurrency because it offers something new to the table where you can freely use and control your money without worrying being traced or regulated by the monetary system, but bitcoin has the drawbacks it can't be used as payment in local businesses, not all people uses crypto. That's what fiat is good being used as physical form of transaction and people likes stability not like bitcoins volatility.

I think in this modern age the question of “which currency should I own?” is something a lot of people that I know ask themselves when it comes to purchasing currency. There are a lot of choices to choose from such as US Dollars, Chinese RMB, Japanese Yen and many more, those are mainly fiat currencies.  However, all those currencies stated are all controlled by banks that regulate their value and are heavily affected by financial crashes such as the one in 2008. As a result sometime after the financial crash of 2008, Cryptocurrencies such as Bitcoin and Ethereum were created in order to have a currency that isn’t regulated by the banks and relies on how much trust we put into its value. Here are some reasons why Cryptocurrencies are better than fiat currency.

1. Cryptocurrencies are now becoming more accepted as a means of trade worldwide.
   A few years after the introduction of Cryptocurrencies such as Bitcoin, people around the world are starting to see Cryptocurrencies as a trustworthy means of transaction which means that you can go to most countries which basic Internet infrastructure and do business transactions using your Crypto Wallet whether a digital one or a physical one which means that you don’t need to call your bank in order to make your account accessible to when you go to other countries as Crypto Wallets are accepted anywhere where Cryptocurrency transactions are being made.

2. Cryptocurrencies have top-notch security and cannot be easily fooled
Cryptocurrencies use blockchain technology in order to make sure that there are no inconsistencies when it comes to transactions. If there are any inconsistencies with the transaction, the blockchain will reject the transaction and your money will still be in your Crypto Wallet.

3. Cryptocurrency transactions are secure transactions
As stated earlier, Cryptocurrencies have top-notch security using blockchain technology. They also keep all transactions on record anonymous as the only person who knows their Crypto Wallet Address is yourself and wherever you post your address link to.  You can keep generating new addresses if your previous Address is compromised. 

But still, the biggest issue for me is the cryptocurrency will not going to be a currency like for example bitcoin since it has a decentralized system and cannot be regulated by the government.

Yes we do love cryptocurrency because it gives so much opportunity for us as of the moment, since we are at early stage, but let's still be realistic that we still need fiat and for sure it is still convenient for us to have fiat in our everyday living as not all people are open yet for this and not all business can accept crypto as payment.

Cryptocurrency is good, but I wouldn’t say better, because it all depends on how you view it. Yes you’re a fan of cryptocurrency and you will always say that it is better than fiat, ask someone who is not a fan and they will tell you it’s worst. So, like I said it all depends on what you use it for and how you use it, there are risks in using Bitcoin and most of those risks can’t be found in using fiat. When I was still a newbie in Bitcoin I once made a mistake of sending payment to someone I don’t know and ended up losing my money, and there was no protection unlike when I use PayPal.

But, put myself in the shoes of that guy I would say that Bitcoin has some advantage because as a seller I’m safe because transactions can’t be reversed, but I’m on the bad side as the buyer.