Crypto is an Asset or Currency?

[djangocoin]

I would say it's both, or at least aims to be both.

Right now it is used as more of an asset, but i think it will be used more as both in the future.

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[redsun114]

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?
What is your opinion?

Crypto serves dual purposes i.e as a currency as well as an asset, as a currency it is being used in settlement of jobs and services offered online, meanwhile a lot people sees crypto as an asset due to it's appreciative features that is why people tends to buy and hodl Cryptos as a future investment.

I would love when crypto using as currency rather than as asset, as example for now Bitcoin has much purpose become an asset which people buying and hodl more. But i still don't understand why nowadays network always busy with many transaction, since fees becoming more high and people doing hold their asset.

I think crypto is both currency and asset, because you can use it for your daily and future needs and also can earn money with your holdings. Cryptocurrency business is now a leading business in the world and mostly people are investing their money in crypto especially bitcoin because the profit margin of bitcoin is too good and no other small business can give you such a huge profit. Therefore it is an asset. All your holdings are your assets and your bank account.

[badungs]

in my opinion, bitcoin is asset. you can earn it by be freelancer here. and you can sell it.
bitcoin is asset, because every year bitcoin price will grow. but we dont know certainly of bitcoin price it will increase everytime or decrease. but, have some bitcoin is good. you can trade and multiply it

[AidenCasanova]

currency i thinkm just like BTC whitepaper
i understand about this discussion, but before that we must understand the difference between money and currency

What Is Currency?
what is the difference between currency and moneyCurrency is what most people think money is!
It is a medium of exchange.
A unit of account. (it’s got numbers on it!).
It is portable.
It is durable.
It is divisible. (you can make change from it).
It is fungible (interchangeable).
Currency is simply paper. This paper money is a tool for trading your time.
Currency has no intrinsic value!

What Is Money
Money is a store of value and maintains its purchasing power over a long period of time plus:
what is the difference between currency and moneyIt is a medium of exchange.
A unit of account.
It is portable.
It is durable. (it never changes from one century to the next).
It is divisible. (you can make change from it).
It is fungible (interchangeable). It is the same wherever it is on earth.
Silver and gold have intrinsic value!
https://thewealthbusiness.com/what-is-the-difference-between-currency-and-money/

some of post above answer BTC is just like money

[Mr.Junker]

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

I think crypto is asset. an asset have currencies. not a currency standard used to sell for a living buy at this time. until now Fiat continue to be a currency. standard a crypto remain refers to the Fiat. we buy crypto also use the Fiat. true or not? undeniable that we are currently still refers to the Fiat. without Fiat we can not trade. not all needs can also purchased with crypto. maybe someday when community or the world's already want that crypto considered a currency maybe it will replace the Fiat. as a standard a currency.

[Dondon1234]

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

Yes I agree with you and I do belive that some coins are only used as an asset than currency but there are many coins which can be used as a currency. Most of the people on this forum are now started using bitcoins as an asset because people believe that bitcoins have potential to reach $50k or even more on the other side many altcoins provides quick transaction with almost no fees can be used as a currency ..

[Eia Eia Alala]

Interesting question. Actually, any currency can be an "asset", if you use it as a store of value and keep it.

[Epimetheus]

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

Yes, at present cryptocurrencies are just an asset rather than a currency. The most important feature of a currency is that it should be a stable store of value. Whereas Cryptos like Bitcoin are very volatile.
Also, another feature of currencies is to facilitate transactions easily. Transactions through cryptos are very slow and transaction fees are also huge. Also, being decentralised, there is no source to enforce responsiblities on cryptocurrencies. Hence, there are no regulations.

[JL421]

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

Yes bitcoin was created to be used as a currency but so far it seems better of as an investment because it offers a high rate of return and since it's not known by many people trading with it becomes difficult. Transaction fees are increasing which makes it better to be stored in stock to avoid high fees when using it as a transaction.

[Mbokani]

Crypto is both an asset and also as a currency. But basically crypto is created as a digital currency, but slowly crypto becomes an asset where everyone buys and stores it for greater profit.

Bitcoin is created as a digital asset and a currency but it cannot be used as a currency for smaller transactions now,i am not certain about the thousand other coins in the market,you can call it as a currency,basically why everyone is investing in those in my opinion is to convert them back to bitcoin when the price is right.If you look at the daily trading volume you cannot say that people are purchasing and holding their coins.

[Washball]

Cryptocurrency started with bitcoin as decentralized currency: digital currency meant for p2p transactions, to avoid the middlemen like banks etc. Then came the altcoins, alternatives for bitcoin. With the incredible price rise it became more of an asset, especially with some issues like high fees and long transaction times it became less of a currency. While the altcoins offered more possibilities for transactions, although some also increased in price. So, some crypto are more asset and some are more currency.

[Viscera]

Bitcoin is one of the best digital assets of now but in terms of currency it depends on the country or region on how they see bitcoin. but for now it remains decentralized and that's how we use it.

[ihsanskanzaone]

in my country bitcoin is better known as an asset because People here do not use bitcoin as a means of payment they just collect bitcoin and exchange it on bitcoin exchange sites because bitcoin has not been legalized by the government but there is no hard prohibition by the government so it is still allowed to collect it. So people here are more familiar with bitcoin as an investment tool.

[kelinci_putih]

Crypto can used both an asset and currency, crypto is future assets that potentially profitable like bitcoins that can be more profitable. Just hold our crypto and need to exchange it into any other crypto or other fiat and trade it. So cryto is a digital currency that can be used as an asset for our future.   

[yusupjatigumilar]

I think crypto is an asset and not a currency, because according to the notion of currency law is anything that can be accepted by the general public as a medium of exchange in economic action. Money can also be defined as anything that can be used for means of payment for purchases of goods and services and for debt repayment. This money is an object that has been generally accepted in society to measure value, exchange, or make purchases of satisfying human needs, whether in the form of goods or services.

[michellee]

Crypto can used both an asset and currency, crypto is future assets that potentially profitable like bitcoins that can be more profitable. Just hold our crypto and need to exchange it into any other crypto or other fiat and trade it. So cryto is a digital currency that can be used as an asset for our future.   

not for this time I guess because we still need a time before we can use the crypto as currency in our real life. there are many countries that are not accepting crypto as currency and they still think more about the crypto. but it might be possible in the future if the government finally accept crypto especially they accepting crypto as currency. but for now, I guess we only used it for trade and buy something on the internet and exchange it into fiat.

[PG13]

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

Because of the high value of bitcoin, cryptocurrencies will can be labelled as assets.
People are buying crypto and hoping that in due time they can sell it at high price.

[matedrink24]

Yes. it can be both, depending on your point of view but as to me i consider it as the currency

[Creepings]

Yes. it can be both, depending on your point of view but as to me i consider it as the currency

Bitcoin is the first digital currency, and for me as the most popular and the most expensive one, it's volatility is being taken advantage and the price is having a movement that is so hard to follow, I think because of that, it is hard to consider Bitcoin as a Currency but for me, it is a half currency since there are some who accepts bitcoin as a payment and an asset, which people look up to in time to get a profit.

[CherRic]

I believe that the initial purpose of crypto is to create a digital currency for making transactions quick and easy. However, in reality it has become an asset which everybody is buying and holding. Continuing doing like this will destroy the initial purpose of the coin?

What is your opinion?

Crytocurrency is a valuable asset if you use it in investing and turning it into profit or income. Everybody is holding it because they want to gain a good profit. On the other side, it is a currency because we use it in selling and buying.