Crypto is an Asset or Currency?

[CuriousGeorge]

I would argue that Bitcoin is more an asset. because Bitcoin is just a digital value that we can convert into currency, and vice versa from currency to Bitcoin. which we must manage and save for our future, or for the use of daily needs.

tbh that does make sense, seeing that so many people only use bitcoin as sort of investment sometimes bugging me with the reason of why bitcoin called as a digital currency by early adopters then.
It's an asset that have value converted to fiat that's it, it's not as convenient to be used as fiat so from my point of view, digital asset would be the best call for bitcoin.

[1714958906]

1714958906

[1714958906]

1714958906

[1714958906]

1714958906

[1714958906]

1714958906

[1714958906]

1714958906

[jahmes123]

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?

It is both an asset and a currency because cryptocurrencies can now be converted to fiat money or it can even be used to pay for services, goods, trading and a lot more. Cryptocurrencies are good investments because their value grows depending on the market demand.

[lightskulk]

It is either both because it'll depend upon the usage of the cryptocurrency. Some use bitcoin to pay for services and goods, while others prefer to keep and view it as asset.

[Erkallys]

It is either both because it'll depend upon the usage of the cryptocurrency. Some use bitcoin to pay for services and goods, while others prefer to keep and view it as asset.

My dear, in fact, it is not just like you like, it would be too easy ! It depends of the country you are from. In Japan it is considered a currency, but in most of the countries it is an asset and thus it is not taxed as long as you do not turn it into actual fiat money.

[XCANA]

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 was originally planned to be a digital currency but become an assets for reason been that its actual value is yet to be achieved because of low adoption as to be use as a legal tender for goods and services any where in the world. In a developing countries Dollar and other strong currency serve as an assets because their local currency fluctuates against Dollar and others so Bitcoin or crypto currency serving as an assets should not be an issue of much concern Op.

[Glorious04]

Yes. The term itself defines it as cryptocurrency but because of its value and unstoppable rise in popularity people began to make it an asset. Investing their savings on it. Our government and banks warned bitcoin investor. They said that investors do not have any assurance that their investments is going to last or stay. No guarantee and no assurance. In any moment they said it can disappear. Can be hacked or just lost its value to nothing.

[muhammad-adnanzain]

In my opinions crypto are trading commodity but recently crypto are like currency but this cannot say as currency because crypto donot have legalized on many country.

[AjithBtc]

In short it is a currency as well an asset, because this gets used as payment and for transactions. As a form of asset, it gets hold as store of value and on other lending necessity. On the whole for what it has been used much is for investment than as currency or asset.

[Snub]

for me it is an asset, because I can't use bitcoin as a currency in my life - I can't pay for services or goods by it

[davinchi]

for me it is an asset, because I can't use bitcoin as a currency in my life - I can't pay for services or goods by it

I think it is an asset, but can be used also as a currency in some places. The rate in which Bitcoin is used as a currency is very limited, so the main purpose is for it to be an asset that can easily be shared. And lastly, you’re wrong by saying you can’t use it to pay for services and goods, cause there are lots of places you can use bitcoin to do whatever you wish, like buying clothes and a lot more others.

[Malaya]

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?

Bitcoin can be classified as both. This can classified as an asset because this can give you much resources as you continuously invest. This can also said as a currency as it is aiming to be the new currency of the future for this is made to transact online resources that can a payment for everyone. It depends on how you will use Cryto as a term.

[kolbalish]

For this topics, my opinion is crypto is an asset and currency too.Bitcoin is used both.Maximum times it used as an asset but in the same time is also used as a currency. For that,my opinion is crypto used an asset and currency too.

[hastag_80]

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?

 Both!crypto maybe i can call it an asset and  also currency because of its significant in the world of digital currency.i can call it an asset because it is an investment or  wealth that you can inherit to your siblings,and we called it also a currency because its usefulness in terms of exchange in fiat currency  or payment transaction.

[dobladi]

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?

Bitcoin is both a currency and an asset. Bitcoin is really a currency in the first place, specifically a virtual or digital currency. But due to the high rate of increase on its value, it became an asset and a good investment whereas users also became an investor that earns huge profit by just storing Bitcoin.

[Copulative]

The world of transactions is constantly changing, the trade that used to be only the present state of the individual can be free to buy anything from other countries, surely this is a tricky thing if using fiat money and cryptocurrency could be the solution for that...

According to my idea the incoming time all people will become the followers of crypto because crypto is more profitable and easy job also while stock is not favorite as crypto and working with stock is difficult and not more profitable as compare to crypto.

[akram143]

Crypto is definitely is an currency but people are using it as an asset buy using its rapid price increase.

But crypto was found to use as an online currency with anonymous transactions so no one hack or trace our transactions.The first crypto was bitcoin the value of bitcoin when launched was less than dollar but now it is at $16K still increasing.So people think that is an asset if e have that crypto then we can earn good profit in future.

[anga3636]

The world of transactions is constantly changing, the trade that used to be only the present state of the individual can be free to buy anything from other countries, surely this is a tricky thing if using fiat money and cryptocurrency could be the solution for that...

I think crypto currency is both asset and money and you can store all the crypto as an asset because all the coins are money if you store your coins then it means you have money and if you have a money then you can make big assests with a big money.

[wizmo]

Yes I agree 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.

[chip211]

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?

Depending on the opinion of each person and they will have their own perception of crypto, but I think all altcoin are currencies.

[Bessta]

Cryptos can be considered as asset if you invest and don't use it as digital currency. It was created as digital currency but since its price soared it  more people invested their altcoins.