Assalamualaikum
How are you all. I hope everybody is well. I am also well by grace of Almighty Allah.
Today I bring you an important topic. If you know today's matter, you will benefit a lot. Along with this a lot of knowledge will be gained. Besides, if we can know this matter then we will not have to face any problem in the future. And if we can understand this matter well then we will benefit a lot. What I will reveal to you today is the Advantage and Disadvantage of Cryptocurrency? So let's begin.
First let's start about the benefits of Cryptocurrency. Among these advantages there are many things that I will try to explain to you.
Benefits Of Cryptocurrency Include
- Anonymity: Cryptocurrency can be traded very well using it. If we use it then our real identity will not be revealed here. This is a good aspect.
- Lower fees: Fees are much lower than conventional transactions.
- Security : Security has been emphasized here along with anonymity. A lot of attention has been paid to security here. Because it is connected to Blockchain, all these things are being recorded here. No hacker can hack anything here. And hackers will face very bad situation while hacking.
Now let's start about its disadvantages. I have revealed to you that there are many disadvantages along with the advantages here.
Disadvantage Of Cryptocurrency Include
- Lack of regulation: It is a decentralized platform. Because there is no owner here, no one comes forward to make any kind of improvement here. And no one follows the rules to such an extent. Which can make you susceptible to fraud and other illegal activities here.
Complexity : It is extremely difficult. As a result it is not possible to understand by everyone. Some people have a hard time understanding. So here is something to do with difficulty.
Volatility: It can be extremely volatile. Everyone has to accept a lot of instability due to the rising prices here all the time.
- Security Risk: If someone forgets any key here or any key gets hacked then many problems will be faced here. Everything will be gone as well and this key can never be recovered.
Limited acceptance : Cryptocurrency is not yet widely accepted as payment. As a result its usefulness as a currency is currently very limited.
Lack of understanding: Many people do not understand many things here. As a result, everyone has to face many problems here.
I hope that the information that I have shared with you today will be very useful for you. And we all need to know this information. If we know all these things then we will not face any problems in future and can solve them very easily.