Crypto is an Asset or Currency?

[rickadone]

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?

As has been explained to all of us that crypto is a non-currency asset because if crypto in that currency will cause problems to the existing bank in a country and if crypto is used as currency for transaction then the transaction is not valid in law because one- the only thing that can be done in a transaction is money in the country. Therefore, bitcoins are made in assets to prevent misunderstandings from occurring.

In the normal sense, crypto is both a currency and an asset and I am sure most of you guys saying this does not have a single idea what the main essence of cryptocurrency is.

The only different thing between most crypto and fiat based system is that it is a decentralized environment and which is one of the reasons why countries are banks are a little bit skeptical about its usage as a currency. However, the decentralized system as well is what makes it both volatile and also serve as an asset due to the demand and supply.

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[el kaka22]

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.

There is no doubt in this fact that the job description of digital currencies has been changed over the course of time. Initially these currencies were developed as you said to make online transactions but now people are using them as mode of investments than as mainstream method of making transactions. The ever growing market values of these coins are forcing people to treat them as investments than as currencies.

Yeah mate you are right everyone has his own preferences and all this thing shows that bitcoin is the everything to investors currency a investment an asset as well all these are beneficial for the community as well and for me personally I am taking bitcoin as an asset so that I can live an easy life after retirement and can give my kids a great and wealthy future so that they can live happily and lavishly by using profit of bitcoin.

Right, it was meant to really be a currency that each person can start using and free us from the way we spend or the slavery the fiat system and the banks have placed us. However, a lot has changed and now people no longer see crypto as a currency but instead as a speculative asset which they can hold for long and have a huge return on it as an investment instead.

Most especially for bitcoin, and this is not really good as far as I am concerned as this is the main reason that should drive the value up, which is being a currency.

[xGeraValerax]

Digital assets and crypto-currencies are still new products in the world of finance. Therefore, it is not surprising that the interpretation of these concepts raises certain difficulties. Many people confuse these concepts and call the crypto currency a digital asset, but these products differ from each other, and above all, the management method. There are certain differences between the two types of financial instruments.

[kiloiko]

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 a digital currency  that was created by technology in this digital world to enable us to benefit its usage in doing easy transactions using addresses and barcodes,it is also considered as a digital asset because as times flies and holders hodl their bitcoin it will become more valuable through demands in the market that supplies cannot cater the whole world its price pumps up so most people hold their btc as an asset for future usage.

Yeah you are right bitcoin can be both at single time it depend on user whatever he want to use and at this time currency use is not that much started so everyone is taking it as asset and more of it bitcoin is very effective in investment (asset) mode it keep on giving people and people hold it for sake of brighter future and they finally get it when they think it is time so as I said it is effective in both way in favor of investor,

[cr_liev]

For now in most cases crypto is an asset, in not so many countries there is an opportunity to cash them out or to pay in retail stores. But I don't deny the possibility that in some 2-3 years this will change and the currency features of the crypto will be able to be applied.

[portotoi]

Bitcoin and other crypto can an be called an asset and it can also be a currency. I can say "Both" because currency also is considered as asset, if you have a currency then that is an asset. I mean an asset is that a thing you own that is most valuable and that crypto is a valuable thing.

[cizatext]

Well some cryptocurrencies are a great assets and at the same time a currency. Because when you have some amount of bitcoin in your wallet and you leave it for a long time you stand to gain from your investment and at the same time holding a great assets in your hand. And secondly you can also use bitcoin or other cryptocurrencies to pay for goods online or exchange your bitcoin to faint money and use it to pay for goods and services in the local market. So bitcoin is an assets and a currency.

[taiwww]

Originally bitcoin a cryptocurrency was introduced to reduce or eliminates problems faced by common people while doing cash transactions and banking operations. It posses all the functions of a good currency. It has quiet less settlement time and charges. But due to lack of knowledge and specific hardware required for doing day to day trade bitcoin use as a currency get restricted. Its limited supply and growing demand is pushing its price up regularly. As a result more and more investors getting attracted towards bitcoin. Bitcoin is the highest return giving investment. It has given its investors far more than they ever expected. Its more popular as an asset than a currency.

[unneros]

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?

altcoin is a currency value of altcoin that is estimated at the value of usd so it is not a property. All altcoins on the crypto are currencies.

[coinplus]

it is not important to argue crypto as a digital currency or asset because crypto covers both. the most important of the crypto you can have income or increase your wealth

Yes, the main essence of crypto is basically to serve as a currency anyway against the centralized system we have always had that is being controlled and affecting the normal masses with all the strange and crazy policies by the banks.

All the above, now, we tend to see more of the asset part of crypto as most people prefer holding what they have than spending with the hope that someday, it is going to end up being valuable, which all started with the rate at which bitcoin increased in value within the years.

[Andrej Peiboski]

Due to limited acceptance, today crypto is much more an asset than a currency (in usual economy, you can have some use for bitcoins, but altcoins are completely useless). But hwen the situation will be more clear, good crypto will be uses as currency.

[KEPLER99]

that is both i believe, you can exchange it for other digital and non digital products and coins/tokens, store it to save and multiply value, it is not accepted as wide as fiat but posesses all essential properties to quilify for limited use currency and assets if you decide to invest

Currency means which can be used for buying something and crypto can do the same for you not in all places but in many places, and asset mean the investment from which you have started your business so it is also a business because as many crypto you buy and hold them for some time it will give you a huge profit. Therefore I realize that crypto is a currency and an asset as well.

[joanshu]

i consider crypto as both currency aswell as an asset.Due to its various features and the role it plays in its users life.crypto's are digital currency which is accepted world wide and it can be send from one person to the another from any part of the world without a third party support and we don't have to disclose any kind of personal information to send or receive crypto's currency we only need to give the wallet address.It can be considered as an asset as its value keeps growing from time to time and it doesn't take much time for the market value to grow.

[logicgate]

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?

As has been explained to all of us that crypto is a non-currency asset because if crypto in that currency will cause problems to the existing bank in a country and if crypto is used as currency for transaction then the transaction is not valid in law because one- the only thing that can be done in a transaction is money in the country. Therefore, bitcoins are made in assets to prevent misunderstandings from occurring.

These are very valid reasons to term Bitcoin as an asset and not as a currency. As a cryptocurrency, Bitcoin can revolutionize the modes of transaction as Bitcoin has no tangible existence yet. In terms of currency, Bitcoin is a cryptocurrency and it cannot be termed as traditional currency. In terms of asset, Bitcoin is an intangible asset. These are few of the things that a Bitcoin holder should be aware of.

[Washball]

Cryptocurrency was created initially as a decentralized currency. But along the way bitcoin became more of an asset, people start trading in and with the high volatility big profits can be made. Nowadays cryptocurrency can be seen as both asset and currency, some have more of an asset and some more of a currency.

[whyrqa]

Cryptocurrency was created initially as a decentralized currency. But along the way bitcoin became more of an asset, people start trading in and with the high volatility big profits can be made. Nowadays cryptocurrency can be seen as both asset and currency, some have more of an asset and some more of a currency.

first of all Bitcoin is an angel who brings a probe passive and active, but at the same time bitcoins will never be a means of payment in real life, as there is not only infrastructure, but society will not be perceived as for a normal life.

[Butchick]

It's initial purpose would have been to become a digital currency but because of its progress and increased value, it had become an asset. This is due to the fact that its value is too high and continuously increases which made people
Able to invest in it either short or long term, depending on the investor or indidvidual.

[jiangsuren]

i think now Crypto is only an Asset because the value of cryptocurrency is Unstable

currency have the stability Nature ， so call it asset will be more fit.

[goku1525]

It's initial purpose would have been to become a digital currency but because of its progress and increased value, it had become an asset. This is due to the fact that its value is too high and continuously increases which made people
Able to invest in it either short or long term, depending on the investor or indidvidual.

You're quite right here and I know that  you state here is about bitcoin crypto currency, which there's no doubt about being a form digital currency that obviously  considered as a currency.  And now it's become an asset of an individual or some investors because the value of it is really had a big difference if we compare its usual price before that the price now is a range of $15,000 to $16,000.

[pinggoki]

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?

Well I could say that it is currency but can also be callled an asset. It is a currency because just like fiat we could use it to make a transaction and it is an asset also because like gold, tokens in crypto can be hold for a long time in order to get profit.