What are the advantages and disadvantages of Crypto currency

[iromeare]

We are made to understand that in anything in life there always advantages and also disadvantages that is just the natural law life,any thing that have advantage must have disadvantage vice versa .Therefore I would to know the advantage and the disadvantage of crypto currency.If possible i will appreciate if can get like 20 advantages and 20 disadvantages in order to help me build more knowledge about the subject matter .

[magmo]

Even though blockchain has been touted as one of the most secure transaction methods due to its’ strong encryption and the randomness of the data, multiple cryptocurrency exchanges have been hacked in the past. This resulted in the theft of thousands of bitcoins, which would be worth millions of dollars today. Due to the irreversibility of Bitcoin transactions, one cannot get a refund, if any of one’s holdings were to leave the wallet.

Nevertheless, bitcoin is the most popular cryptocurrency on the market. This popularity, however, makes it actually really bad as currency. Money is supposed to hold its value. One argument made by bitcoinnoisseurs is that it is a type of 'digital gold'. Stores of value are supposed to keep their value; bitcoin, by contrast, is extremely volatile. Thus, when you go to the shops, you know roughly how much you are going to spend. Especially this very cryptocurrency can rise or fall by 10-20% in a day or in an hour. This currency fluctuations make it impossible to create a reliable price, on anything. Or make it a real currency (I guess).

Bitcoin has been a victim of its own success. It’s been hugely popular as an investment largely based on the fact it will be widely used as a currency. Additionally, if lots more people jump on the bitcoin praise the price and value of the currency will go higher and higher. In the long-term, if the currency is not to do what it was designed to do, the bitcoin bubble just bursts, and the investors will lose most of its assets.
Though, it is hard to see how the currency is a source of systemic risk. Real economic damage occurs when a plunge in asset prices is combined with the widespread use of money that has been borrowed, particularly by banks. These factors, however, are not present yet.