Pros
- You become your own bank, with no restrictions and parenting
- The government cannot take your money through confiscation, devaluation, and regulation, etc.
- Save money and time as cost goes towards zero for service and products and they become available digitally over the Internet
- Protection from payment fraud and identity theft
- Direct settlement (no intermediates) and direct access to markets
Cons
- You depend on technology that works. Wars, natural catastrophes, terrorism, etc. will continue and computer systems could be down for short or long periods of time.
- You need basic skills about technology as well as access to the Internet and devices.
- Cryptocurrencies still have a way go before they can replace credit cards and traditional currencies as a tool for the global economy. The timeline for widespread use will likely be over the coming decade.
- Lack of awareness and understanding as many people do not know how cryptocurrencies work and/or are not used to using cryptocurrencies.