Crypto is an Asset or Currency?

[Clavulanic]

Yes, we have to be optimistic about the future of crypto, now almost all countries do a special study on crypto so this is a good opportunity if we invest crypto when the price is still cheap like now, the future will continue to improve.

It's either crypto is an asset or a currency, it is just the same for me because since from the start, all I think about crypto is the way it functions in the economy. Apparently, most countries somewhere in America, believe that bitcoin is a big hit despite of its bubble issue whenever there is a problem is being raised. Overall, for me they could be asset and a currency and of course it's one of a kind.

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[PhucS]

I think crypto is an asset, it is not money. Because we can only convert them to money to use. We can not use it directly to buy anything in the present

This depends on each person's point of view, while others think that crypto is currency. But I think crypto carries many of the characteristics of a property. As you said, we can't use it directly to buy anything in the present. But we can invest in it and can make a lot of money. In addition, the characteristic volatility also makes the crypto more like a asset

[Blue Bell]

I think crypto is an asset, it is not money. Because we can only convert them to money to use. We can not use it directly to buy anything in the present

To some extent I am  not agree with your discussion because in almost every market now it is very easy to use bitcoin for direct payment infect it is safer than cash, as you will pay by yourself as there will be no extra cutting or detection from your bitcoin wallet. You will be able to pay by yourself. I have bought a lot of goods from one of supermarket name Chen one which is very good market has all the brands and they were accepting bitcoin for payment, so we can use bitcoin for asset to hold and as currency to buy new thing.

[tenu]

As far as I know G20 decided that crypto is an asset. In such case it is easier to regulate it for governments. If it were a currency there would be a number of dubious issues such as currency bank control, etc

[pathapoddo]

Crypto is an asset or currency, it is a curious question for everyone. In this forum I found this type of questions every single day. Sometimes I give answer and sometimes I don't. Do you know what is asset? If you know than cryptocurrencies are a asset or not to find out will be easy.
Asset is an item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies. In this definition if the cryptocurrencies are your asset but illegal. So this is not acceptable asset. Then what is currency?
A currency, in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. According to this definition, which is the medium of exchange is the currency. So you can say that cryptocurrencies are asset as well as a currency.

[tuikindu01]

Encryption is an asset and a currency.

There is no doubt that the work of digital money has changed over time and is now being used as an investment model rather than a mainstream way of trading.

Personally, I use bitcoin as an asset so that I can live a relaxed life after retirement.

[jatin729]

It can use by both the ways, it depends where you are living, I.e. if you are living in japan, chile, US and arab countries you can use crypto as currency, but if you are living where crypto is not a legal tender but can use for trading purposes than we can say crypto is asset for them because they are using it for profit making.

[Indai24]

It can use by both the ways, it depends where you are living, I.e. if you are living in japan, chile, US and arab countries you can use crypto as currency, but if you are living where crypto is not a legal tender but can use for trading purposes than we can say crypto is asset for them because they are using it for profit making.

Yes I agree they're both an asset and a currency but to a certain countries only. But here in our country it is an asset because bitcoin is not recognized legally by the government so therefore it is an asset.

[ethergod]

I think you will have different cryptocurrencies serving different functions, some as assets and others as currencies, and some as both. We are already seeing different niches develop. Perhaps the notion of one-size-fits-all needs to be discarded for a healthy evolution of this market.

[chelsea0]

for now I personally use crypto as an asset for investment, not as a means of payment or currency, in fact my country still does not allow the use of bitcoin as a means of payment, and bitcoin is also not official state money, so it is difficult to use bitcoin as a currency that we can spend at a supermarket or grocery store

[wewe123]

As term for cryptos as digital currency it carry the use of medium of exchange in the digital market in making transactions in the internet , payments, and it also has the property of an asset as it is term as investments in the digital world market wherein the money you invest will gain profits of your save investment.

[Sir Paijoe]

Crypto is more accurately said asset and not currency , this is because for transactions of course can be done directly like cash, and it will never happen with bitcoin, if we can pay online with bitcoin but we can not pay offline.

[Arlibtchunt2018]

Crypto is more accurately said asset and not currency , this is because for transactions of course can be done directly like cash, and it will never happen with bitcoin, if we can pay online with bitcoin but we can not pay offline.

I think it is both asset and also currency.  The fact that btc can be consider as your money or wealth then it can be called asset while at the same time btc is a form of money which we can call to be a currency.

[scrototeabaggins]

It can be both since Bitcoin is cryptocurreny are technically digital currencies. Assets are things tbat has a chance to increase in terms of the value that is profitable and it happens that cryptos are. So from with that, I think cryptos are indeed a currency and asset at the same time.

[pthnmj]

It could be both. If you invest in a cryptocurrencies today, if its value goes up you would have more coins. You can buy a lot of things using bitcoins now a days. If you want to exchange bitcoin with your local currency, you can do that even. The main problem is that these kinds of coins are not accepted everywhere, so most of the people tend to do investments with it.

[BitcoinLoan]

Crypto is more accurately said asset and not currency , this is because for transactions of course can be done directly like cash, and it will never happen with bitcoin, if we can pay online with bitcoin but we can not pay offline.

Since the value will rise and people expect it to continue rising, people will be inclined to keep rather than spend. Although originally designed as a currency, this aspect highlights the asset side of crypto and will continue to be considered as an asset.

[yarahman]

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?

bitcoim is an asset today, it is for a long therm because fluctuations is not stable today.

[JerryJam]

Cryptocurrency is a means of payment. It is faster and cheaper.With cryptocurrency, you can pay for goods and services. In some ways, it is an analogue of Fiat money. Cryptocurrency can also be used as an asset. Due to the unstable exchange rate, this asset can be called quite risky.Here you need to take into account all the risks.

[Shavedcoconut]

Both! You hold it for its value, but it has an application outside of just earning value.

[Trimegistus]

I believe crypto is an asset but in fact this is a mess:

- The U.S. Commodity Futures Trading Commission is eyeing virtual currency as a commodity.

- The SEC is beginning to treat certain tokens as a security.

- The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) has stated that certain activities involving convertible virtual currency constitute money transmission.

- The IRS treats convertible virtual currency as property.

(source: https://www.coindesk.com/crazy-cruel-us-tax-crypto-currency/)