Cryptocurrency Debate: A Detailed Report on Arguments For/Against

This report provides a comprehensive debate on the use of cryptocurrencies, exploring arguments both in favor and against their adoption. It highlights the advantages such as decentralized transactions, anonymity, and potential benefits for small businesses, as well as the disadvantages including high volatility, risks associated with illegal activities, potential for data loss, and susceptibility to online hacking. The report concludes that while cryptocurrencies offer benefits like facilitating international transactions and investment opportunities, investors must carefully consider the economic and digital risks involved before engaging with them. The report references several books, journals, and online articles to support its analysis.

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Table of Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY..................................................................................................................................2
Arguments in the favor of the use of crypto currencies:.............................................................2
Arguments in against the use of crypto currencies......................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4
Books and Journal........................................................................................................................4
Online..........................................................................................................................................4

INTRODUCTION
Cryptocurrency is a sort of digital currency that lives solely on the internet. Unless it is
utilized as a service that allows users to exchange bitcoin for a physical token, there is no real
coin or banknote. Without the need for an intermediary like a bank, cryptocurrency may usually
be traded with someone online, using your phone or computer. It is one of the important debate
topics related to providing effective increase and significant changes to trade profit in systematic
growth. This report includes a debate on the use of crypto-currencies and their services
(Altschuler, 2021). A detailed introduction is used to make frictionless financial data, the ability
to work in international boundaries, and other systematic orders underlying the technology. It
also includes arguments in favor and in against the use of cryptocurrencies.
MAIN BODY
Arguments in the favor of the use of cryptocurrencies:
When it comes to using cryptocurrencies, it helps generalize the statement and work
according to the decentralized currencies to make centralized authorities make effective
decisions—decentralized to create inflation and make negative growth in different challenges.
Unlike bank transactions, crypto-currencies are completely helpful for anonymous and address

the payment and help others identify the theft (Aslan, 2021). The use of crypto-currencies helps
to generate small businesses a good profit from the trading market. It is helpful for the growth
and productivity to work and make effective bound to grow due to the significant dramatic rise in
the market to arise the popularity at the mass level and have the wide acceptance as the effective
payment method. Using the crypto-currencies is practical and helpful for working in different
manners and making digital transactions such as using different credit cards to other modes
inappropriate primary ways (Corbet, Lucey, and Yarovaya, 2021). These points show that the
use of crypto-currencies can work effectively in the market and make systematic growth in the
use of international transactions. Furthermore, the appropriate use of spin-off advantage helps
underlie the technology and work in more systematic ways.
Arguments against the use of cryptocurrencies
On the contrary, the use of cryptocurrencies is highly volatile, the massive price rise over
a short period makes it risky to deal for the investors. It is a tricky question to make highly
considered in the use of future currency. With the help of high government and different
countries are used and manage to work effectively into the market and make a good attitude to
make crypto-currencies a highly legal tender, people are unaware and make risky investments.
These are considered the nature of crypto-currencies and attract many illegal and illicit activities
such as tax evasion and gambling etc. (Náñez Alonso and et al., 2021). It helps to generalize the
storage device in which the stored crypto-currencies can be damaged or even lost. Once the

crypto-currencies are lost, then the bitcoins are not able to be recovered by any means which is
another major disadvantage of using cryptocurrencies in the market. There are some significant
changes to make effective crypto-currencies like bitcoin make highly associated with being
verified on the first try. Apart from this cryptocurrency also involves the risk of online hacking
because the use of hi cryptocurrencies is highly intelligent with the hacking process which makes
it riskier to be used for high-level investment (Stabinski, 2021).
CONCLUSION
The above report helps to conclude that Cryptocurrency is a great type of technology that
can be used by an individual in the market with the use of the internet. This cryptocurrency
provides several benefits to their investors and consumers and helps to keep the records for the
Bitcoin transactions. Apart from having so many benefits, these cryptocurrencies involve high
economic risk at the same time which should be managed by investors by understanding the pros
and cons of the cryptocurrencies. The cryptocurrencies not only in world economic risk but also
involve digital risk to work effectively in the market and requires high transfer changes. These
are the arguments against the use of cryptocurrency in a market but in favor of the use of
cryptocurrency, it is a beneficial source to raise funds from the market and provide a source to
invest in the trade market.

REFERENCES
Books and Journal
Altschuler, S. (2021). Should Centralized Exchange Regulations Apply to Cryptocurrency
Protocols?.
Aslan, A. (2021). Financial economics of cryptocurrency markets (Doctoral dissertation, Bilkent
University).
Corbet, S., Lucey, B., & Yarovaya, L. (2021). Bitcoin-energy markets interrelationships-New
evidence. Resources Policy, 70, 101916.
Náñez Alonso, S. L., Jorge-Vázquez, J., Echarte Fernández, M. Á., & Reier Forradellas, R. F.
(2021). Cryptocurrency Mining from an Economic and Environmental Perspective.
Analysis of the Most and Least Sustainable Countries. Energies, 14(14), 4254.
Stabinski, M. (2021). Cryptocurrency Drives Data Center Innovation. ASHRAE Journal, 63(10),
44-49.
Online
Arguments for and against Cryptocurrencies, 2021. [Online]. Available through:
<https://www.debatingeurope.eu/focus/arguments-for-and-against-cryptocurrencies/
#.YYDCLvF97qM>.