Kakashi2020 Posted June 1, 2018 Share Posted June 1, 2018 We can agree that Bitcoin has a lot of advantages but there's also disadvantages and one of it is until now it's not really accepted globally as a form of currency. Some countries even banned Bitcoins, only a handful of countries like Japan have legally accepted Bitcoins. What are the other disadvantages of bitcoins? Quote Link to comment https://slingbank.com/forums/topic/596-what-are-the-disadvantages-of-using-bitcoins/ Share on other sites More sharing options...
Steve5 Posted June 3, 2018 Share Posted June 3, 2018 I think one disadvantage is that it's not so easy to transfer into cash. While there are available means of doing so, they're not very convenient for lots of users. Though, this could improve as time passes by. Quote Link to comment https://slingbank.com/forums/topic/596-what-are-the-disadvantages-of-using-bitcoins/#findComment-1038 Share on other sites More sharing options...
fishbate Posted June 3, 2018 Share Posted June 3, 2018 In my opinion on of the disadvantage is the conversion. There are some ways to use bitcoin but they are generally digital conversions. The fact that its basically a binary valued as currency, changing or converting it to physical money is hard. But there are some countries that uses bitcoin in many ways, i just hope that these means increases in other platforms. Quote Link to comment https://slingbank.com/forums/topic/596-what-are-the-disadvantages-of-using-bitcoins/#findComment-1039 Share on other sites More sharing options...
CARLOSP1 Posted July 4, 2018 Share Posted July 4, 2018 Disadvantages of virtual currency: As currencies are online, security is given through computer programs. 1-This means that your Bitcoins can be hacked and stolen; 2-The government does not recognize Bitcoin as an official currency, that is, there is no protection to these coins since they do not have regulation; 3-In general, payments made through Bitcoins can not be challenged or returned. Quote Link to comment https://slingbank.com/forums/topic/596-what-are-the-disadvantages-of-using-bitcoins/#findComment-1612 Share on other sites More sharing options...
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