Advantages and disadvantages of cryptocurrencies

[Grig Woods January 29, 2022 at 8:21 am Post count: 0]

#37470 Reply |

Cryptocurrencies have a number of distinctive features compared to classical money, and therefore they have both positive and negative properties.

The advantages of cryptocurrencies are:

Mining, i.e. anyone can participate in the process of issuing digital currencies (in the process of mining, the payment chain is also confirmed) and receive an appropriate reward for this.
Decentralization and deregulation is an anarchist’s dream, the basis for building a free digital economy.
Anonymity of payments.
Limited emission – no inflation.
High level of reliability and protection through the use of cryptography.
Low transaction fees.
The disadvantages of cryptocurrencies are:

High volatility – even for Bitcoin, on some days the price fluctuates +/- 10% (see What determines the Bitcoin exchange rate?).
The ever-increasing level of complexity of mining the vast majority of cryptocurrencies requires constant improvement of technical means, which entails additional financial costs, incl. and by increasing electricity consumption. If earlier Bitcoin could be mined even on a home PC, now it is required to assemble an entire “farm”.
The inability to use cryptocurrency in case of loss of the password from the wallet or damage to the hard drive with the information on it. To avoid this, you should back up your data.
Lack of proper legal regulation. The government of the country can impose a ban or limit the work with cryptocurrencies, establish additional taxation of income received, controversial transactions (given their anonymity) are unlikely to be challenged in court (for example, an advance payment for a product that the seller subsequently did not provide or did not provide in full) etc.
The use of cryptocurrencies in the shadow economy and illegal circulation. At the moment, the governments of the countries are puzzled by the problem of conducting high-quality financial monitoring. While the volumes of transactions carried out are relatively small, cryptocurrencies do not pose any particular concern, but as trading volumes grow, the situation will change dramatically.

[Tamina February 1, 2022 at 3:01 am Post count: 0]

#37544 Reply |

So cool info, dude! I think it would be nice to release a separate book with the talking title cryptocurrency trading for beginners. This would be useful for dummies like me who can’t connect two words in this topic when talking. In general, I have heard that there are sites that collect something like a step-by-step intsruction for a novice trader, but I have not been to such sites myself yet.

[StivkaM March 20, 2022 at 1:32 pm Post count: 0]

#38682 Reply |

Cześć! Zajrzyj na stronę https://pl.cryptonisation.com/ranking-gield-kryptowalutowych/ projektu Cryptonisation, tutaj eksperci podpowiedzą jak wybrać najlepsze giełdy kryptowalut, ich oceny, zalety i wady, giełdy bez weryfikacji , niezawodność i wiele innych. Korzystam z tej strony od dawna i szukam przydatnych informacji i odpowiedzi na moje pytania! również na tej stronie znajdziesz instrukcje krok po kroku i poradniki dla początkujących w tej dziedzinie)

[continentcough September 3, 2022 at 6:34 pm Post count: 0]

#41881 Reply |

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[codeiherbmep October 6, 2022 at 3:58 pm Post count: 0]

#44061 Reply |

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[Si Xuan October 11, 2022 at 3:29 pm Post count: 0]

#44461 Reply |

Mogę podzielić się z Tobą przydatnym portalem finansowym, który dał mi kilka obiecujących kryptowalut do zainwestowania https://pl.tgdratings.com/articles/cheap-and-promising-cryptocurrencies/. Byłem w stanie kupić waluty cyfrowe Status (SNT) i StormX (STMX) z minimalnymi opłatami, rejestrując się na najlepszej na świecie giełdzie kryptowalutowej Binance. W przyszłości ich cena wzrośnie i będę mógł je sprzedać po wyższej cenie.

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