Crypto is an Asset or Currency?

[Joshapat]

I think crypto is an asset, we all know that there are currently over 1500 coins and tokens officially registered in coinmarketcap, this certainly makes the competition very tight, but I'm sure that in 5 more years there will only be no more than 100 coins.

[sunnydmd]

it's an asset in my opinion. trading fee is too high to be a currency
when people consider it as a asset, they would store it rather than trade it frequently
so it could survive with too expensive fee

[mi56374100]

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?

Money seems to be a very familiar with, but not so sure, the concept of in the form of currency in different historical stages are not the same, from the physical currency, such as shells to precious metals such as gold and silver materials metal currency mainly completed the monetary form of the evolution of the standardization, metal currency notes are focused on money to ascend in the convenience store.

The concept of crypto currency is more complicated. First, it realizes the global point-to-point payment through the Internet, which greatly improves the circulation efficiency of the currency in the world. Second, its distribution and operation are fully automated by computer programs, and the total amount is constant, and its credit support is separated from the centralized mechanism of the existing central bank.

Encryption is an asset and a currency.

[Pro100CryptoMan]

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 it is asset, because transaction speed is very small for being currency

[Allura74]

I think crypto is an asset, we all know that there are currently over 1500 coins and tokens officially registered in coinmarketcap, this certainly makes the competition very tight, but I'm sure that in 5 more years there will only be no more than 100 coins.

Yes, crypto is an asset because it is the home of all coins that having some usable value and convertible into our local real money by means of trading and at the same it is a currency because every coin in crypto is registered for having real digital value and it is dependent on real market trend that is affected by people's demand.

[knight20]

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 for me. why?
Asset is kind of thing that is really valuable or thing that really important like bitcoin. Asset a thing that could be seen in person also.
While currency is kind of money that use specific country and also a thing that really important to all humans.

[Alalex]

Cryptocurrency is today's virtual currency created by a Japanese professional named SATOSHI NAKAMOTO he is the one who created the first cripto money, created for the times and can be used as a digital currency exchange and digital currency delivery tool.

So cryptocurrency is a cripto currency exchange instrument in the form of coin digital currency.

In bitcoin market may be for all people in the world looking for profits in cripto money market.

Since all mutual benefits between sellers and buyers of cripto money have nothing to destroy the cripto money, this cripto money will never be destroyed.

So I guess your judgment is wrong with the people who invest with cripto money.

[Chooroz]

I think bitcoin is a asset and currency also, bitcoin is a currency which via you can make any deal where btc accept. bitcoin is a valuable asset and currency.

For me bitcoin can be both asset and currency and even bitcoin is not yet very popular but still there are some country that is starting to support bitcoin as a currency, and right now there is no doubt that bitcoin is an asset of a lot people in this world because having a bitcoin means having a great asset.

[Bitbitmaker]

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.

[Tungsten-1]

All currencies are backed and regulated by a central bank or government.

Cryptos are non regulated by definition therefore they cannot be considered as currencies sensu stricto.

IMHO cryptos are assets or commodities.

I will agree to the definition you shared about the currency but the definition and the system needs to be overhauled in accordance with the time keeping in view the demands of the people of this generation. There is no doubt that presently crypto currency can be called as an asset but I am very much hopeful that this asset will eventually become the currency of the world with people deciding about its future.

[wack slacker]

Crypto I think it is currency because it always circulates in the blockchain network and people exchange it with each other according to their needs. Some of the most traded currencies are bitcoin, ethereum. Ripples are used by banks as exchange instruments. So the ripple is the currency. There are some crypto people who speculate for a chance to make a profit. Some crypto holdings follow the business model, investors hold to be split profits.

[torch2121]

For me both. Cryto is a currency because you can use it as payment, exchange it to other currency or even exchange it to fiat. Also an asset because it is valuable.

[reddolphin]

I think the right term for crypto is an intangible asset. It is a digitalized currency that has became an asset because a lot have been buying it. Its intangible since you can’t have it physically unless you exchange it.

[btcminer6212]

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 is both an asset and a  currency. Just like any other fiat, you can use it to transact and at the same time trade to other currency such as your local currency to USD or EUR and hold it as investment. I personally do not see a problem on that. It is more of an advantage for crypto to be fully useful.

Most of the people used it for investment purpose but the truth is that it is a currency and it was invested to be used as a currency for all of the online dealings but as the price of bitcoin is increasing very faster and the investors and traders are earning a high income when they invest in it so they take it also as asset for their investment. So for the time when it will give profit, it will also be used as asset along with the use of it as a currency.

[3la9l_kolbaCa]

crypto is a currency! that's why almost all of us called cryptocurrencies right. for sure there are still many people that are believing that bitcoin is an asset but i also do believe that we have our own opinion in every each everyone of us.

[destroyer01]

Asset is a token which is issued onto a blockchain,and generally represents something which does not derive its value directly from the chain.For example a bank might issue an asset onto a blockchain to represent some cash it is holding.

[michellee]

I think for me, I make the crypto as my asset and my currency but not in my real life. I use the crypto for the asset for a long-term and I still try to hold much of coins and not sell if the price does not reach the high price. I use the crypto as my currency on the internet so I can sell the crypto to have money and then I can cash out in my bank account. but if my government is accepting the crypto as a new currency then I will use the crypto to pay something in my real life too.

[Fitrilalala]

Both of them. Many people save their money in bank to fill their asset. Buying a foreign money to keep it and sell it to take a profit same as buying coin or bitcoin and keep it for a long term to gain profit. Crypto could we use as a tool payment in online shop or offline shop that receive cryptocurrency that means it has a value to call it a currency.

[Roachgo04]

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 can be designated as asset and currency which ever you like to use it. Since crypto is in the early stage of growth many people use it as asset because of their experience of high rate of ROI. In due time when the gain from investing crypto subside the original purpose of currency will prevail which is as future fiat of the people.

[Trimegistus]

Nakamoto's purpose was to create an electronic cash system capable of working without going through a financial institution and also without the need for a trusted third party to prevent double-spending.

The system works as we know, as it as been improved in a way that no longer requires PoW and can use PoS instead.

But this system cannot be classified as a "currency" according to the current definition of the word.

Someone in a previous post classified cryptos as "intangible assets" and that kinda makes sense to me.

Digital coins? Maybe...

Intangible assets? Probably!

Blockchain commodities? Sure, why not?

Crypto currencies? No, I don't think so!