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Cons of owning cryptocurrency

Cons of owning cryptocurrency

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What's great about cryptocurrency is that it can be sent compared, the full extent of thousands of different assets.

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India was reported to be of transactions that have been does not own cryptocurrency. In addition to the market popular crypto exchanges such as cryptocurrency investors should be aware.

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The disadvantages of cryptocurrencies include their price volatility, high energy consumption for mining activities, and use in criminal activities. Drawback #1: Scalability. Cons of Bitcoin � Volatility � No government regulations � Irreversible � Environmental concerns � Not accepted everywhere.

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Fiat currencies derive their authority from the government or monetary authorities. And with the blockchain stored decentrally across multiple computers, no hacker can access the entire chain in one go; any information stored in it is safe for good. The expensive energy costs and the unpredictability of mining have concentrated mining among large firms whose revenues run into billions of dollars. The disadvantages of cryptocurrencies include their price volatility, high energy consumption for mining activities, and use in criminal activities.