Question

Explain early development, challenges and risks, opportunities, advantages and disadvantages, and the future of Crypto Currencies.

Answer 1

No Payment Restrictions- The charge is free. Bitcoin may act as a significant financial instrument to be used as a means of trade by people working under the tyranny of governments without any one person or authority having power of it.
Holding anonymity- Since the anonymity is maintained, several people are working to it. This prevents identity fraud. Since the payment can be made and finalized with the virtual identity of the user, personal information does not matter of wrangling.

No presence by third parties-Cryptocurrencies often gain traction, since no intervention or consent from third parties is necessary. This does away with billing waits. What a great medium of exchange for freelancers in particular, to keep complaining about payment delays!
Free / Much Less Processing Cost
Many transfers in cryptocurrencies are usually safe. Anyone can trade without paying any transaction fees that are very favorable compared to the usual banking system. But some also offer trading commissions to speed their purchases.

Lack of Consciousness / Knowledge- People are also unaware of the nature of digital currency such as Bitcoin. They may not have any or very little historical information on cryptocurrencies. Cryptocurrency is a newly introduced system for learning and adapting using quite complicated blockchain technology, loads of turns and twists. It is dangerous to work with it without knowing cryptocurrencies.

Broad Application of Strategy- It's true that the use of complex algorithms makes digital heists rare, but what's the point if the worker doesn't know very well about the usefulness of that? It gets very hard for both customers and service providers to understand and use cryptocurrencies

Not all approved- While cryptocurrency hype every every passing day, cryptocurrencies are still not embraced everywhere. Any countries around the globe still haven't embraced and approved the use of cryptocurrencies, so transacting money around the world will still be difficult.

People often find it challenging to comprehend how cryptocurrency and blockchain technologies operate, and frequently they have been perpetrators of fraud and schemes by letting others hold track of their bitcoins.

Some economic analysts predict a major shift in cryptography as institutional money enters the market. In addition, there is the possibility of cryptography floating on the Nasdaq, which would further add credibility to blockchain and its uses as an alternative to conventional currencies. Some predict that all that crypto needs is a verified exchange-traded fund (ETF). An ETF would definitely make it easier for people to invest in Bitcoin, but there also needs to be the desire to choose to invest in crypto, which may not be created immediately by a fund.