The Other Side Of The Coin: Disadvantages Of Cryptocurrencies

Cryptocurrencies are one of the groundbreaking innovations of today (and tomorrow). That we agree on. The huge advantages, which come with digital money, are already pretty widely known to most of us. We’ve spoken about the pros of cryptos, the impact they have on the world’s economy and life in general. But what we haven’t touched yet, is the other side of the coin ‒ the cons, the disadvantages of cryptocurrencies.

So, let’s do it now. Let’s break those down.

Mask off. The cons of crypto

One of the most significant disadvantages cryptocurrencies have is the constant fluctuation of the price. And this makes it quite difficult for the users (and merchants) to accept and use crypto. It’s kind of a trust killer as you can never be 100% sure how much the crypto is going to be worth tomorrow.

And, along comes the next issue of cryptocurrency ‒ the lack of merchants accepting digital money. Why is that? The trust rate of digital money is (still) rather low. The somber reality is that even though crypto is a growing trend, a lot of companies still haven’t taken the bold enough step towards accepting digital money. There are two possible reasons for that: it may be a tendency not to be willing to take a risk with the fluctuating price, or the unawareness of what benefits cryptocurrency can bring about.

Thirdly, not enough people know about the benefits of cryptocurrency. The good thing is though, that more and more people gain info about digital money. The know-how is snowballing. Each day more people step into the cryptocurrency sphere by acquiring their crypto. But let’s be honest, there is still a long way to go and a lot of work to do in regards to the knowledge on cryptocurrencies. And, before the masses start using and accepting it, crypto needs years of exposure to the global system.

Last but not least is the convenience and simplicity of acquiring, holding and using cryptocurrencies. Yes, it’s improving for sure, but the goal is that no one (including our parents and grandparents) has any difficulties dealing with cryptocurrencies. Not ever. It will be an organic part of our lives. So natural.

And the future?

A huge part of our mission is showing you what cryptocurrencies are really about. Advise you when necessary, and coach you about the economy in general.

What we wish is to bring more awareness to the world. We’ve established tools and products that make the process of acquiring, holding and using dagcoins very easy.

  • DagWallet is perfectly simple for keeping and using dags.
  • SwipeX is in the process of becoming an easy-to-use exchange with the feature that allows a person to acquire cryptos with a simple swipe.
  • Dagpay is an easy to integrate payment gateway for accepting dagcoins with your online or brick-and-mortar business.

There’s absolutely no doubt in our minds that cryptocurrencies are The Future.

So, we conclude that the pros definitely outweigh the cons. By far. It’s a journey. The current disadvantages are here to be fixed, and we’re on a mission to do just that.

Want to know more? Get in contact!