Cryptocurrency technology has challenges and it also has opportunities. While it has a lot of challenges when it comes to the volatility and the risk that is associated with its adoption, it is a technology that would revolutionize the financial system and it will also enhance financial inclusion. The volatility in the prices of cryptocurrency could actually lead to a speculative behavior and it could also result in a great financial loss.
Will cryptocurrency do more harm than good?
- Thread starter Reedex
- Start date
Cryptocurrency has the potential to empower individuals because they would provide access to different kinds of financial services most especially in the underserved regions and this would bring about user protection and security.
Cryptocurrency is used for cross border transaction and this is a way at which you can reduce the remittance fees and also, it addresses the issues like solubility and transaction speed.
There is a lot of concerns about cyber security and hacking and it is important to look into the importance of the security measures in cryptocurrency exchange and wallet before using it.
The adoption of cryptocurrency by institutions and corporation is growing and that shows that cryptocurrency is legitimate because it gives you more confidence when you use it for transactions.
- Thread starter
- #10
The decentralized nature of cryptocurrency would help to offer alternative to carrying out transactions on centralized authorities like the banks because this particular way to transact gives you to autonomous power over your funds.
The cryptocurrency borderless nature would create financially inclusion especially for the people that are not banked and it is definitely a good way to empower individual to access financial services.
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The cryptocurrency borderless nature would create financially inclusion especially for the people that are not banked and it is definitely a good way to empower individual to access financial services.
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