Disadvantages of Cryptocurrency
by SMEBOOK (admin) · October 18, 2020
'Good things come with a price'. This can be a true statement in terms of cryptocurrency. Though the digital currency market has a lot of advantages, it has certain loopholes too. A few disadvantages noticed in the use of cryptocurrency are:
- Volatility: Cryptocurrency is more prone to market ups and downs as compared to other investments such as stocks and bonds. This causes a sense of mistrust among investors.
- Cyber Security: Digital currency transactions are always exposed to cyber threats.
- Transaction cancellation or refund: Incase of a transactional dispute, there is no option of recovery through refund or cancellation
- Data loss may lead to huge financial losses.