✔️ Information reviewed and updated in April 2024 by Eduardo López
In the world there are two positions around cryptocurrencies, those in favor and those against them. Each of these groups receives a name, both Pro cryptocurrencies and Anti Cryptocurrencies according to the support they give to them.
Here we will try to analyze each of the positions of these groups so that we see, which is the best or at least, which could be right. In the same way, if you think you could identify with any of these positions, now you can do it 100% and know that there are more people who think like you.
➡What are Pro Cryptocurrencies? ✨
Pro Cryptocurrencies are people who fully support cryptocurrencies, just like you do with your football team, F1 team or favorite artist. They believe that everything is perfect in this world and there is no problem with cryptocurrencies.
Some experts even consider them fanatics, as their love for virtual currencies turns into a kind of fanaticism. They believe that the future is in cryptocurrencies and that cryptocurrencies will soon replace money as we know it.
➡What are Anti Cryptocurrencies? ✨
On the other hand, we have the Anti Cryptocurrencies, a group of people who have a totally opposite vision to the Pro Cryptocurrencies. And is that They believe that these digital currencies are nothing more than a scam that has no real sustenance and that, sooner or later, will be reduced to rubble.
Similarly, they believe that it is only a speculative bubble which, as happened in 2008 with credit, will explode triggering a crisis. They are totally suspicious of technologies such as Blockchain that they consider as a form of scam of which it is better not to be a part.
➡ Pro Cryptocurrencies: Interesting points you should know✨
Both sides of the coin are right on some points, as well as the right to express their arguments. Next, we will analyze what are the highlights of the Pro Cryptocurrencies according to experts.
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Future of cryptocurrencies
Without a doubt, this is one of the strongest points, since many analysts conclude that cryptocurrencies will be, in one way or another, the future of money. This is due to the advantages they offer over conventional money such as not having a centralization and being more secure in transactions.
Of course, like everything else, we should not trust 100%, since to become the future it is necessary to consider that instability or volatility is a point to be solved. Still, he expects the role of these currencies to become increasingly relevant.
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Blockchain Technology
One of the reasons why there are so many proponents of this type of cryptocurrency is the use of Blockchain technology. Yes, the so-called blockchain represents a point in favor for virtual currencies for all the benefits that this entails for banking operations.
Not only is it more secure and difficult to break, it also creates virtually indelible records backed up by the same nodes in the chain. Another great advantage is that the Blockchain can be perfectly adapted to different types of uses ranging from public cryptocurrencies to their use in private companies.
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Increasing use
Perhaps this is the point that generates the most controversy, since on the one hand we have those who defend it and those who deny it. And is that one of the problems of cryptocurrencies, along with volatility, is the limited use of these currencies.
Fortunately, hard work is being done to expand the use of cryptocurrencies as shown by some companies accepting these virtual currencies as a form of payment. Even PayPal, one of the largest payment processors in the world, has begun to develop technology to support it on its platform.
➡ Anti Cryptocurrencies: Interesting points that you should know✨
It is always useful to know the opinion of the opponent so we cannot ignore these points. Here we will tell you what are the main arguments against that Anti Cryptocurrencies have around these virtual currencies.
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Its versatility
Many of these coins are not accepted in most stores, and they can only be used under certain conditions. Many others are not even useful for the payment of services so they are only limited to investment, which greatly restricts their use, making them mere accessories.
Although efforts are being made to reverse this situation, Most Anti Cryptocurrencies agree that they are very slow so they cannot keep up with the market growth rate. That is why they are opposed to buying these coins, since, for them, they are of no use.
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The volatility
Another of the most common cons that we can find is the fact that the volatility of cryptocurrencies is very high. Yes, they do not have a stable value, but this usually fluctuates considerably, thus causing people to lose their money.
At one point, a cryptocurrency can be in the sky and overnight, plummet.. Many experts attribute this instability or volatility to the very nature of cryptocurrencies, as well as the fact that they are not backed by another asset as is the case with real money.
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Security
Despite the fact that the Blockchain seems to be very safe, there are certain doubts around it, which makes the Anti Cryptocurrencies question its security. In fact, there are cases that support these types of concerns such as hacks and data leaks.
That is why the Anti Cryptocurrencies consider that cryptocurrencies and their technology are not yet safe and reliable enough to operate there. What's more, There is a lot of insecurity in terms of operators or intermediaries, since there have been many cases of scams and theft.
