What are the advantages and disadvantages of cryptocurrencies?

Unchallenged
Jul 29, 21

Lack of proper regulations for cryptocurrencies increases the chances of scams.

Each country has its own standard of regulation for managing cryptocurrencies. Christine Lagarde, Ex-Director of IMF, calls crypto a vehicle for money laundering. There is a need for policies that protect owners, much like in the conventional financial sector.

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Unchallenged
Jul 29, 21

The crypto market is vulnerable to herd mentality.

Elon Musk’s tweets have often impacted cryptocurrency values. Cointelegraph experts discussed reactionary behaviour in the crypto market, revealing that people tend to cash out at the first sign of prices falling and vice versa, creating an unwanted synergistic effect.

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Unchallenged
Jul 29, 21

Cryptocurrencies offer the potential for high returns.

At the end of 2020, the S&P 500 Index of Large Cap US equities had a compounded annual growth rate of 14.5% (reinvestments of dividends considered). Joaquin Thul, an economist at EFG Asset Management, says bitcoin had a staggering annualised return of 131.5% in the same period.

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Unchallenged
Jul 29, 21

Cryptocurrency holdings are vulnerable to hackers.

There is no physical proof of cryptocurrency ownership since it is digital money. The only proof of ownership are the private keys used to authenticate transactions. This makes businesses that do not know how to protect their crypto vulnerable to hackers.

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Unchallenged
Jul 29, 21
Unchallenged
Jul 29, 21

The fight against misinformation needs a hero like you.

Add your views to this topic by signing up. You’ll also be able to add or vote on sources, and start new topics. Because if you don’t fight misinformation, who will?

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Unchallenged
Jul 29, 21
Unchallenged
Jul 29, 21
Unchallenged
Jul 29, 21

The fight against misinformation needs a hero like you.

Add your views to this topic by signing up. You’ll also be able to add or vote on sources, and start new topics. Because if you don’t fight misinformation, who will?

email
Unchallenged
Jul 29, 21