Advantages and Disadvantages of Cryptocurrecies

Crypto Portfolio is a great resource for unbiased news and reports on the state of Crypto. In this series, they lay out the honest advantages and disadvantages of the crypto system at large.

Advantages:


1. Inflation is almost non-existent because the system is decentralized

2. There are no borders (all countries use the same currency)

3. Transparecy - you can't cheat the system without people knowing thanks to the public ledger.

4. Transaction fees and time are low compared to SWIFT/SEPA

5. No one can freeze your wallet (government, banks, etc)


Disadvantages:

1. Scalability problems exist, but is being addressed.

2. Legalization is still working on bringing the market to the public.

3. Changing protocol takes a long time, but it does happen.

4. Price volatility is normal in a new asset, but can be scary for newbies.

5. Adoption is still slow, mainly due to legalization and useablity.

6. Hacks canand will happen, but blockchain is always updating and getting stronger.

Hey, I'm Cole! When I'm not diving and running marathons (just finished Boston) I'm learning everything that I can about Blockchain. I've got a minor Kpop and Clash Royale addiction, and am never without a cup of coffee. Stanford proud!
Follow
4.7 Star App Store Review!
Cpl.dev***uke
The Communities are great you rarely see anyone get in to an argument :)
king***ing
Love Love LOVE
Download

Select Collections