With each passing day #cryptocurrencies become more and more popular legal tender. People around the world use digital money to generate revenue, calculate online, and for the many other purposes. The popularity of #bitcoin in 2017 has reached an unprecedented heights, but is everything so fabulous and unproblematic in such a popular area? We suggest you to introduce yourself with the main problems arising from the absolute decentralization of the #cryptocurrency.
The Fraud.
A lot more than once we have heard shocking news that cryptocurrencies are used in an illegal actions. Scammers use them for extortion and theft. Also, thanks to the anonymity of the cryptocurrency, these legal tender can be used to finance terrorism, as well as money laundering, acquired illegally.
An uncertain legal status.
Different countries are trying to regulate the issue of Cryptocurrency, but there is still no common policy regarding the problem of determining the legal status of the Cryptocurrency. This absence prevents the Crypto-currency from becoming a full-fledged legal tender and from giving you the opportunity to use it in shops, hotels, restaurants, and what is more important in the institutions that are somehow connected with the government or state.
The waiting time and the size of the commission.
The average commission for the operation with #bitcoin is about $5, which is not very pleasant if you need to transfer $20 for urgent expenses. At the same time, there is a problem of waiting for confirmation of the transaction. Now payment done within 24 hours is considered to be the normal, but who among us in the 21st century has so much time to wait?
From these arguments, one can come to the conclusion that at the moment the issue of cryptocurrency regulating is more relevant than ever. We will follow the news and share with you.
