Are cryptocurrencies dead

Exchanging assets Cryptocurrencies were developed independently from one another. As a result, it can be challenging to exchange one cryptocurrency for another, even with the rapid development of platforms such as Binance. That can make it a less attractive asset class as the transactions sometimes needed to change one currency to another are often inefficient. That said, there are platforms where crypto holders can exchange their tokens and coins with other platform users.

However, at present, it is not always as easy as it would be to sell stocks or exchange traditional currency. Unregulated Just as volatility can be both an advantage and disadvantage for investors, the decentralised nature of crypto can bring risks. If something is decentralised, it is unregulated. Having no regulation makes an asset class riskier to invest in, as market users may seek to exploit the lack of oversight.

That is not the case when investing in stocks and bonds - markets subject to considerable regulation. Such regulations make these markets a safer place to grow wealth while allowing investors to be confident they won't lose their money in a scam.

While cryptocurrency is not a scam, the lack of regulation does pose uncertainty that traditional assets do not have. Cyber hack All types of crypto exchange and crypto assets are a target for cyber hacking. It is such a new technology relative to other asset classes that it attracts cybercriminals looking to exploit vulnerabilities. While cryptocurrency can be challenging to hack, cybercriminals are often highly intelligent and motivated.

Perhaps most worryingly, there was little that those at Poly Network could do, given that crypto is decentralised. Can crypto be shut down? In short, no. Crypto cannot be shut down because it is a public ledger and form of technology, so it cannot be stopped. That said, governments - especially powerful governments like the US and China - can try to regulate it to a certain degree.

And they can regulate it so much that many of its advantages are no longer unique to this asset class or other digital assets like NFTs. And governments are trying to regulate it more. The Chinese government, in particular, has implemented many policies and rules that have had material impacts on how cryptocurrency can be bought, sold and used by the population.

While that may make it a more attractive investment class for some as it could be deemed safer, to some, it may mean that cryptocurrency starts to lose some of its appeal. For many, the fact that it is decentralised is its main attraction. Is it safe to invest in cryptocurrency now? Given the chance of being hacked and the relative absence of Government oversight on digital currencies, is it a safe and investable asset class? For the most part, yes, it probably is.

However, while digital currencies have suffered from hacks by cybercriminals, traditional investments do also bring risks. Companies listed on stock exchanges, for example, can go bust. They can be subject to huge fines by governments if they break the law, impacting their stock price. That is a possibility for many companies - though thankfully not a common occurrence. But the same can be said for cryptocurrency.

Plus, you have to calculate whether you think it is safe to invest in terms of return. Some digital currencies will likely not rise higher in price at all. So you have to decide whether you think a digital currency can or will gain in value and rankings. That is, of course, a question you must ask of all potential investments.

And, as stated above, crypto is starting to be more regulated by some Governments. Given that one of those Governments is China, that may make it a safer asset class, as cryptocurrency may cease to be used by investors who buy it for illegal purposes. Plus, more crypto wallets are being established - both hot and cold. As the technology develops, holding a digital asset portfolio should become easier and safer as time goes on.

So, is crypto dead? Crypto is not dead. Nor does it look like it can, would or should ever be shut down. Still, two elements may make it a dead investment class for you. Firstly, you may not find the risks of crypto worth taking - it is arguably a riskier investment asset than other traditional classes. And it may become less appealing to you if one of its main attractions is its lack of regulation and decentralised nature. At present, it looks like increased regulation of the area will continue.

What that means for how the asset class develops will be interesting to see. Whether it means increased adoption and further usage in day-to-day life or whether it becomes far less popular for investors could be argued either way at present. This weekend, Coinbase celebrated its 10th birthday with a snarky ad that took aim at crypto skeptics, reminding us all that crypto has been on life support before.

Still, this time feels different … or does it? Crypto's death knell A second Coinbase ad , which aired during the Golden State Warriors game against the Mavericks on Friday, pointed out that people have been naysaying crypto in exactly the same way for the last 10 years: by declaring it dead. Coinbase makes a good point. As far as ads go, this was successful. Neither is Coinbase.

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