Here’s why cryptocurrencies are appealing:
- Supporters view cryptocurrencies as the currency of the future and hence they are buying them now to bank on cryptocurrencies in the future when they are more valuable.
- Some supporters love cryptocurrency as it removes the role of banks and governments as intermediaries that manage money, especially since these intermediaries can distort the value of money through inflation over time.
- Some fans of cryptocurrencies like the technology of blockchain owing to its decentralized processing capabilities and unimpeachable recording system that is more secure and robust than traditional systems.
- Some speculators like cryptocurrencies because they can trade and profit from their volatile value irrespective of their long-term applications.
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