Post
Topic
Board Beginners & Help
Merits 4 from 1 user
Re: Advantage and disadvantage of cryptocurrency
by
Fiatless
on 19/02/2023, 07:51:53 UTC
⭐ Merited by Dunamisx (4)
Disadvantages;
* it can be time consuming
* the losses are irreversible
* it prone to scammers
* its discouraged seeking further career
* it can cause shocks and death

If you have stayed in the bank from morning till night because of a single transaction, you will know that cryptocurrencies transaction is not time consuming. To open an a bank account, you will need to fill different forms and go through many processes.

It is true that cryptocurrency transactions are irreversible, that is why we need to check and recheck before we click the send button. We should be extra careful before we carryout any transaction.

Banks are more prone to scams and attack than bitcoin. All we need to do is to used decentralized wallets and never keep your funds in exchanges because they are prone to attack of hackers and government.

I don't see how the cryptocurrency sector discourages people to seek opportunities in other areas. Most people in this sector use the cryptocurrency sector as a side hustle or part-time job. Apart from Bitcointalk I am not engaged in any other platform. If I can invest in the sector, hold my coins and sell them when the price goes high, then I am okay. I don't need to spend all my time in the sector. And it is also good to diversify your income source.

Please always invest what you can afford to loose. Don't borrow to invest in Bitcoin and don't put all your funds in Bitcoin because the sector is also unpredictable. Investors must also understand that losing funds is not the end of the world. As long as there is life, there is hope and more opportunities will also come.

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