Advantages and disadvantages of using cryptocurrencies

Abstract

The characteristics of cryptocurrencies bring some benefits and risks. According to the data platform Statista, Blockchain turnover increased by 95% to 21 million by the end of 2017, from 11 million in 2016. This upward trend continued, and at the end of 2019, the turnover exceeded 44.5 million. In 2019 alone, the number of crypto platform users increased to more than 12 million. This data shows that affinity for technology and awareness of cryptocurrencies is increasing. However, the steady growth of e-wallets makes the benefits of cryptocurrencies more prominent and prominent. These advantages are as follows (Bunjaku et al., 2017):