WHY IS CRYPTO NOT THE FUTURE?

Why Is Crypto Not The Future?

2021 has been a breakthrough year for Cryptocurrencies. The world became aware of these digital assets, and investors around the globe inducted these into their portfolios. Before 2021, Crypto wasn’t as hyped as it is today. It is since the world sank into never-ending lockdowns when people got time to explore this relatively new phenomenon. Influencers, tech giants, and many other important personalities brought their colors into the course. But the question is, will Crypto sustain? Will it carry on to have the hype it has currently? This article is all about why we think Cryptocurrency doesn’t have a sustainable future.

HIGH VOLATILITY

One thing you associate with Cryptocurrency is its high volatility. One day, you will see a coin reaching its all-time high, and the next day it falls lower than its face value. This is what the Crypto market holds for its investors, high risk. Seasoned investors prefer investing in assets that deliver more security, such as real estate, metal, stocks, bonds, etc. The idea of Crypto doesn’t seem to keep inspiring its investors for long. People will soon look into running away from this unstable market and looking for better investment opportunities.

SECURITY

One of the greatest concerns associated with Crypto is the security of digital wallets. You buy these coins and store them in digital wallets. So apparently, you don’t have direct access to what you have. The matter of concern is whether you can trust these exchanges which create wallets or not. In this highly advanced era of technology, cyber crimes are rising. This indicates that your digital wallets aren’t safe. They can be hacked easily, and you will be left with nothing but regrets.

IS IT PRACTICAL?

Is the thought of Crypto replacing fiat in the future practical? It works perfectly fine when you make online purchases, but what about paying for a big mac at Mcdonald’s through Bitcoins? Although many outlets have started doing it, it is still not something that will meet the comfort level of most of the population. Moreover, its technology and technology have failures. What if your digital wallet crashes at the time of bill payment? What if it catches some bugs? Thus, if Crypto is to replace fiat anytime near, a lot of work has to be done. 

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