Why cryptocurrency is better than other money?

Started by Ryar, Jul 29, 2022, 01:49 AM

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RyarTopic starter

The folk clearly liked the cryptocurrency and people are ready to invest in it. Why? Why is this taking place and how has cryptocurrency become better than other money?

How can cryptocurrency be used and what can be done to avoid losing it?
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AliceFowell89

Even if the cryptocurrency did not rise in price, but had a permanent cost, but at the same time retained all the qualities inherent in cryptocurrencies, then people would still use cryptocurrencies. Well, because the crypt is your digital pocket.

I said facile words, but think about them YOUR digital POCKET Ask so what? and in general, all the money in your pocket belongs only to you or? .. and generally do you ask someone before you pay for the purchase, when you take your money from your pocket?

And the fact that the cryptocurrency is getting higher expensive, consider this a "small" bonus, a side effect)
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olga

Now it is especially clearly visible what it is better. Funds on a crypto wallet cannot be frozen or withdrawn. Neither by decision of any government, nor the US Senate, nor the court, nor anyone at all. This crypt is more reliable than the dollar, ruble, yuan and any other currency in general.
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arthyk

The main and significant advantage of cryptocurrency is its decentralization. That is, there are no barriers and boundaries in transferring it between people. Also the possibility of full and anonymous ownership of assets and the lack of control by the state.
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Я И Бал Крассавиц

For me, cryptocurrency is the future! Do you know why? Personally, I think that cryptocurrency is very mysterious at first glance (for beginners). After studying you will get more knowledge about this trend. It's no secret to anyone that it's time to switch to freelance, online work (I'm talking about trading).
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nikkrasn

cryptocurrencies.

Some will consider this approach to investment too risky, however, if you look closely, there are a lot of opportunities and options for investments and diversification within cryptocurrencies, and protected from the effects of sanctions. However, when working with this asset class, you should always keep in mind the volatility and high risks.
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richtedy

In 2022, bitcoin was often compared with the precious metal. For example, in April, Bloomberg analysts said that the cryptocurrency ceases to be a speculative asset and becomes a digital version of gold.
One of the reasons why these instruments are opposed to each other is the limited emission. Gold reserves are limited by nature, bitcoin is a software code that makes it impossible to issue more than 21 million coins.

"Bitcoin is much more convenient to use as a means of payment: within a couple of seconds, you can send bitcoin to the other side of the planet and track the transaction. In addition, already now we see that many institutions are beginning to look at bitcoin as a protective asset," Stanfkevich explained.

Artem Dseev, head of the analytical department of AMasrkets, spoke about other strengths of the cryptocurrency. In his opinion, one of the advantages of BTC is the absence of additional costs for its storage, whereas, for example, gold requires payment of a bank deposit box. Another aspect is security. Cryptocurrency is much more difficult to steal, unless, of course, it is contained in a private wallet.

Dedev also stressed that no one has control over bitcoin. Not so with gold. It can be frozen by the state in a crisis situation. Another strong point is divisibility. Cryptocurrency is easy to split into pieces, which cannot be done with gold bars and expensive coins.

Bitcoin versus the Dollar
In 2020, bitcoin is often contrasted with the dollar. The reason is also the limited issue, which the US currency cannot boast of. The US authorities have resorted to a policy of quantitative easing to combat the economic consequences of the coronavirus pandemic. As a result of these measures, the money supply increases, and the dollar depreciates.

Thus, since May, the DXY index, which shows the strength of the dollar against a basket of national currencies, has decreased from 100 to 93.4 points, at the moment falling to 92.2 points. Bitcoin, on the contrary, strengthened against this background, which was noticed by analyst Omkar Gosdboul. He admitted that investors transferred capital from USD to BTC as a protective asset.

Bitcoin has several unambiguous advantages over the dollar, Stanksevich is sure.
These include the absence of a centralized issuer, decreasing inflation and a finite quantity that positively affects the price. These factors make it possible to call cryptocurrency a more reliable asset of capital savings.

"The dollar is limited only by the imagination and requests of the Fed's typewriter, which continues to print the currency uncontrollably. In addition, the political situation in the world and the high dependence on the position of the United States in the international arena clearly tell us that bitcoin is a more reliable way of preserving value today than the dollar," Stankefvich believes.

A similar position is held by the head of the data analysis department CEX.IO Broker Yuri Mazur. In his opinion, bitcoin is not subject to devaluation, which is inherent in the dollar. In this regard, the increase in commodity prices leads to an increase in the purchasing power of cryptocurrencies.

"Bitcoin is not subject to devaluation, as it has a limited initially set issue. That is, the inflation of commodity prices leads to an increase in the purchasing power of bitcoin. Of course, this asset remains highly speculative, and the revaluation that it undergoes sometimes remains out of sight of the broad market. However, in the current conditions of a deep crisis, the economic recession of the world's leading economies and the devaluation of the dollar, this phenomenon can become much more noticeable," Mazur stressed.

Dedev called the price increase the main advantage of bitcoin over the dollar, however, as well as over other currencies.
"It is predicted that by the end of the year bitcoin may exceed the $12,000 -22 000 mark per coin, and within five years it will approach the value of $ 100,000. Such strengthening is typical only for digital assets, fiat currencies have never demonstrated such growth," Deesv explained.
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