Why Cryptocurrency is better than fiat currency?

[nankers]

I am personally glad with cryptocurrency because it's easy to carry anywhere, like carrying a credit card. Fiat money that requires a bag or suitcase if carrying in large amount. Not with cryptocurrency, we only need a smartphone or hardware wallet to carry anywhere.

[ILuckyGuyI]

I think in this modern age the question of “which currency should I own?” is something a lot of people that I know ask themselves when it comes to purchasing currency. There are a lot of choices to choose from such as US Dollars, Chinese RMB, Japanese Yen and many more, those are mainly fiat currencies.  However, all those currencies stated are all controlled by banks that regulate their value and are heavily affected by financial crashes such as the one in 2008. As a result sometime after the financial crash of 2008, Cryptocurrencies such as Bitcoin and Ethereum were created in order to have a currency that isn’t regulated by the banks and relies on how much trust we put into its value. Here are some reasons why Cryptocurrencies are better than fiat currency.

1. Cryptocurrencies are now becoming more accepted as a means of trade worldwide.
   A few years after the introduction of Cryptocurrencies such as Bitcoin, people around the world are starting to see Cryptocurrencies as a trustworthy means of transaction which means that you can go to most countries which basic Internet infrastructure and do business transactions using your Crypto Wallet whether a digital one or a physical one which means that you don’t need to call your bank in order to make your account accessible to when you go to other countries as Crypto Wallets are accepted anywhere where Cryptocurrency transactions are being made.

2. Cryptocurrencies have top-notch security and cannot be easily fooled
Cryptocurrencies use blockchain technology in order to make sure that there are no inconsistencies when it comes to transactions. If there are any inconsistencies with the transaction, the blockchain will reject the transaction and your money will still be in your Crypto Wallet.

3. Cryptocurrency transactions are secure transactions
As stated earlier, Cryptocurrencies have top-notch security using blockchain technology. They also keep all transactions on record anonymous as the only person who knows their Crypto Wallet Address is yourself and wherever you post your address link to.  You can keep generating new addresses if your previous Address is compromised. 

Cryptocurrencies are preferred for trade more every year because the processes are faster compared to fiat money. The security system of cryptocurrencies continue to be empowered as time goes on. Fiat money is getting old compared to cryptos day by day.

[DaftAjax]

I think the reason why cryptocurrencies are better than Fiat is :-

1. Non governmental rule ie.. we don't need to actually be victims of the negative side effects of the government and the system , we could actually own our own money .

2. Its more secure even if the Bitcoins is not backed up , it's backed up world wide by different people thus you know we can be sure that it will suddenly go bankrupt .

3. It can be used as an alternative to fight the oppressive government , an example we all have seen already... It gives people the actual power .

4. It's volatility may help you make a lot of money if done right

5. It is employing people worldwide and these jobs are way better than the normal ones .

1) Maybe in your country. But countries like India, there have been reports that cryptocurrency users are being harassed by the authority. Some politicians even suppressed that if an individual is caught trading, exchanging or doing business with cryptocurrency, you'll be arrested. And I'm glad policy didn't pass, but nevertheless another man has been arrested for doing business with cryptocurrency (reason: doesn't have permit/license). Currently, there are still no policies/restrictions for cryptocurrencies.
Source: by bryant.coleman

2) Bankrupt doesn't even make sense to cryptocurrency.

3) No, you definitely can not. It's a currency, not a political standing of some sort to gain "power".

4) For once you're right.

5) You could say that. Companies who regulates cryptocurrencies tend to employ people, indirectly that is. But earning cryptocurrency is not considered as a job.

[nasipadang]

If we follow the technological advances of the times, blockchain technology and digital currencies such as cryptocurrency is a good choice, but not the best, because cryptocurrency still has some weaknesses, especially for those who don't like transaction anonymity. I admit that freedom of cryptocurrency transactions is the best, if the government supports digital currency without negative regulations.

[whtchocla7e]

For investment traders, it will be good, the value of altcoin will fluctuate every day, creating profits for traders, margin, ... For fiat coins, there is no big fluctuation, The majority of fiat coins are used to store or flee market dumps.

[DevilSlayer]

I agree that the bitcoin is better than fiat currency because its value is experiencing deflation while in fiat currency experiencing inflation. But there are also disadvantages on using bitcoin in payment method like having a high fees and network traffic.

[lumierre]

Remember that not all cryptocurrency that's has the security you said, but I can only vouch for Bitcoin and some other few to have the security you said. That be said; I see cryptocurrency far better than fiats in the following reasons: its anonymous transactions, it decentralization among other cryptocurrency, it supply which is limited to 21M coins and among all, it has no central authority like fiats. I love the cryptocurrency to fiats.

Above in all of that, cryptocurrency doesn't work without a fiat. I like cryptocurrency especially Bitcoin since it has a lot of use when in times you need it. It's more than just a digital money with an anonymity, you can also invest in it but the fast moving volatility is your number one problem if you wish to use it in trading.

Until we live in the society with governments (centralized societies) - suppose it will never end - we will need fiat money and banks. Cryptocurrencies are very good for making fast and cheap transactions without borders, but again, nowadays, they do not mean anything if we do not have fiat money provided with gold or oil. Crypto, however, is the coolest way to earn, and people use this way.

[Zionatin]

In my opinion, people use Cryptocurrencies because they're somewhat anonymous or pseudonymous, trustless, censorship resistant, much easier to store and exchange, no need for giant vaults, easy to move from one side of the world to another and easy for rich people to hide their assets, but not because it's decentralized.

Decentralization in itself isn't really a feature most people want, it's just a necessity for other desirable qualities such as the ones mentioned above. If a government issued Cryptocurrency had such features while still giving the government the control they want and need to function, it will be used too. In fact, there are already companies moving in that direction: USD Tether, TrueUSD and many others. To get them initially you need to fill out a KYC form and from there a government investigator could just go along the chain of transactions until they know who you are.

I like that it is decentral and take the power away from the government. I hear what you are saying. I think you are right and most people will not care just as long as they can buy things with their money. It is very short-sighted. It is better than using a currency that the government will tax and waste that money.

"To get them initially you need to fill out a KYC form " This is ridiculous and will never happen. It is just too much manpower. It will take longer than voting and I don't see how it is going to help. What is the thinking behind this?

[xiboothrezi]

If we follow the technological advances of the times, blockchain technology and digital currencies such as cryptocurrency is a good choice, but not the best, because cryptocurrency still has some weaknesses, especially for those who don't like transaction anonymity. I admit that freedom of cryptocurrency transactions is the best, if the government supports digital currency without negative regulations.

Yes, this technological advance makes all the limitations that can not be done manually by Fiat can be overcome properly. We can be free to send funds to anywhere in the world without restrictions, as long as there are no binding rules in the country. Moreover, cryptocurrency can be used simultaneously as an investment and trade commodity, this is very effective. However, fiat is also still effective in dealing with the other side of cryptocurrency, especially if there is no internet access, no matter how much cryptocurrency in your wallet still cannot be used. Is not it?

[jarhed]

If we follow the technological advances of the times, blockchain technology and digital currencies such as cryptocurrency is a good choice, but not the best, because cryptocurrency still has some weaknesses, especially for those who don't like transaction anonymity. I admit that freedom of cryptocurrency transactions is the best, if the government supports digital currency without negative regulations.

Yes, this technological advance makes all the limitations that can not be done manually by Fiat can be overcome properly. We can be free to send funds to anywhere in the world without restrictions, as long as there are no binding rules in the country. Moreover, cryptocurrency can be used simultaneously as an investment and trade commodity, this is very effective. However, fiat is also still effective in dealing with the other side of cryptocurrency, especially if there is no internet access, no matter how much cryptocurrency in your wallet still cannot be used. Is not it?

I like the function of the product more in cryptocurrency, it is well suited for Bitcoin. I think that Ethereum will in the future fulfill the function of money for small operations.

[djsugar]

Fiat currency in its present form isn't really ideal. It has many drawbacks. Cryptocurrencies are indeed the future of money but not the decentralised ones. I doubt countries are going to accept Bitcoin or any other decentralised crypto as a legal tender leaving a few. There are many reason to that but volatility is the main. Also, centralisation is required in monetary policies for running the country and its economy efficiently. Paper currency will see a new form as a digital currency which will be efficient for new age transactions.

[Oneandpure]

I think in this modern age the question of “which currency should I own?” is something a lot of people that I know ask themselves when it comes to purchasing currency. There are a lot of choices to choose from such as US Dollars, Chinese RMB, Japanese Yen and many more, those are mainly fiat currencies.  However, all those currencies stated are all controlled by banks that regulate their value and are heavily affected by financial crashes such as the one in 2008. As a result sometime after the financial crash of 2008, Cryptocurrencies such as Bitcoin and Ethereum were created in order to have a currency that isn’t regulated by the banks and relies on how much trust we put into its value. Here are some reasons why Cryptocurrencies are better than fiat currency.

1. Cryptocurrencies are now becoming more accepted as a means of trade worldwide.
   A few years after the introduction of Cryptocurrencies such as Bitcoin, people around the world are starting to see Cryptocurrencies as a trustworthy means of transaction which means that you can go to most countries which basic Internet infrastructure and do business transactions using your Crypto Wallet whether a digital one or a physical one which means that you don’t need to call your bank in order to make your account accessible to when you go to other countries as Crypto Wallets are accepted anywhere where Cryptocurrency transactions are being made.

2. Cryptocurrencies have top-notch security and cannot be easily fooled
Cryptocurrencies use blockchain technology in order to make sure that there are no inconsistencies when it comes to transactions. If there are any inconsistencies with the transaction, the blockchain will reject the transaction and your money will still be in your Crypto Wallet.

3. Cryptocurrency transactions are secure transactions
As stated earlier, Cryptocurrencies have top-notch security using blockchain technology. They also keep all transactions on record anonymous as the only person who knows their Crypto Wallet Address is yourself and wherever you post your address link to.  You can keep generating new addresses if your previous Address is compromised.  

You right with Cryptocurrency transactions are secure transactions because payment sending only to correct address and we have valid proof for each transaction we made, for other fiat currency many people make invalid proof address to get more with every transaction, by using cryptocurrency show valid your transaction with transaction history id. You can't manipulated of transaction if use bitcoin and altcoin for transaction payment.

[blckhawk]

I can't really say its better than the other. They both have their own capabilities as currencies.

Yes, cryptocurrencies are gradually being accepted in the industry, but I don't think it's enough to be used globally and by everyone since not all still has access to the minimum requirements to transact in crypto.

Your #2 and #3 statements are almost the same. It just says that blockchain is secure. While this is true, you cannot deny that some exchanges, ICOs, and malware could still impose risk on crypto. Not to mention that transactions are irreversible, once you get scammed/stolen, there's no way you'll get insurance.

Fiat, as of now is better on handling smaller transactions where the need of crypto is not really necessary. Also, bitcoin's market is volatile, either you label the goods by USD and be able to pay using BTC, or change price by mBTC regularly, which isn't viable for small businesses to use.

One good thing though is it removes intermediary, which is good for transactions to anyone with minimal fees and no limitations.

Privacy and anonimity in cryptocurrency can be good or bad. It really depends on who uses it. For example, most markets in deep web (onion sites) use cryptocurrencies for payments to illegal activities.

[EdvinZ]

Digital money is more convenient than fiat money because: 1) Can be sent anywhere in the world in seconds and with minimal Commission. 2) For their storage is not required to open a bank account and pay for it. 3) Some digital assets are anonymous, which is very important for some people.

[rashal]

I think in this modern age the question of “which currency should I own?” is something a lot of people that I know ask themselves when it comes to purchasing currency. There are a lot of choices to choose from such as US Dollars, Chinese RMB, Japanese Yen and many more, those are mainly fiat currencies.  However, all those currencies stated are all controlled by banks that regulate their value and are heavily affected by financial crashes such as the one in 2008. As a result sometime after the financial crash of 2008, Cryptocurrencies such as Bitcoin and Ethereum were created in order to have a currency that isn’t regulated by the banks and relies on how much trust we put into its value. Here are some reasons why Cryptocurrencies are better than fiat currency.

1. Cryptocurrencies are now becoming more accepted as a means of trade worldwide.
   A few years after the introduction of Cryptocurrencies such as Bitcoin, people around the world are starting to see Cryptocurrencies as a trustworthy means of transaction which means that you can go to most countries which basic Internet infrastructure and do business transactions using your Crypto Wallet whether a digital one or a physical one which means that you don’t need to call your bank in order to make your account accessible to when you go to other countries as Crypto Wallets are accepted anywhere where Cryptocurrency transactions are being made.

2. Cryptocurrencies have top-notch security and cannot be easily fooled
Cryptocurrencies use blockchain technology in order to make sure that there are no inconsistencies when it comes to transactions. If there are any inconsistencies with the transaction, the blockchain will reject the transaction and your money will still be in your Crypto Wallet.

3. Cryptocurrency transactions are secure transactions
As stated earlier, Cryptocurrencies have top-notch security using blockchain technology. They also keep all transactions on record anonymous as the only person who knows their Crypto Wallet Address is yourself and wherever you post your address link to.  You can keep generating new addresses if your previous Address is compromised. 

[carlisle1]

for tons of time this same question has been answered from all sides but in the end its not about which is better but the one will help people use the currency in the most sufficient ways.for me theres no need for comparison because Fiat will serve people and cryptocurrency was created to do the same so why need to give questions that don't need to be answered

Digital money is more convenient than fiat money because: 1) Can be sent anywhere in the world in seconds and with minimal Commission. 2) For their storage is not required to open a bank account and pay for it. 3) Some digital assets are anonymous, which is very important for some people.

you have given 3 major reason why cryptocurrency is friendly user but fiat can give you assurance that you can make payments even without Internet since this can happen and crypto wont save you in this case

[s92225]

I think fiat currency is going to last forever. I mean when you look at London stock exchange, NY stock exchange. Compare them to crypto exchanges like Binance or OKEX or what not? you will see the different (The formality and volume)

Reference:
https://www.londonstockexchange.com/home/homepage.htm
okex.com

[Ashong Salonga]

There are circumstances that cryptocurrencies are better; same with fiat currency. Both have their positive impact, comparable to the amount; cryptocurrencies are higher but fiat money is more stable. See? Both have their advantages so you better to keep them two. Do not choose one.

[DaftAjax]

There are circumstances that cryptocurrencies are better; same with fiat currency. Both have their positive impact, comparable to the amount; cryptocurrencies are higher but fiat money is more stable. See? Both have their advantages so you better to keep them two. Do not choose one.

I think that in the future cryptocurrency will definitely be more stable than fiat money. So it’s better to buy now Bitcoin and Altcoins, which have a high level of liquidity.

I think "stable" is not the right word for it to consider that it's better than fiat money. We will still have the same volatility that we experience now. Probably the same slow-transaction speed (depending on the volume), but nevertheless maybe liquidity will make significant changes by a lot, especially when people or a lot of countries have already adopted cryptocurrency as part of their "daily" transactions. That would be an interesting thing to see.

[Peashooter]

First of all cryptocurrency is a non legal distribution of money in which they don't need to pay their taxes in order for them to buy some goods or things while in fiat you need to transfer crypto into a fiat to become a legal currency that has been issued by the government in which the items or the things you need to buy have a equivalent of a taxes. That was one of the many reasons why cryptocurrency is more better than fiat.