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With reference to Cryptocurrencies, consider the following statements:
1. Fast and Cheap Transactions
2. Investment Destination
3. Anti-Inflationary Currency
Which of the above statements can be termed as benefits of cryptocurrency?
- a)1 and 3 only
- b)2 only
- c)2 and 3 only
- d)1, 2 and 3
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
With reference to Cryptocurrencies, consider the following statements:...
Benefits Associated with Cryptocurrency
- Fast and Cheap Transactions: Cryptocurrencies are way cheaper to use to execute international transactions because the transactions don't have to be handled by a series of intermediaries before they reach their destinations. Hence, statement 1 is correct.
- Investment Destination: There is a limited supply of cryptocurrency – partially like gold. Moreover, the last few years have seen the price of cryptocurrencies rising faster than other financial instruments.
- Due to this, cryptocurrencies can become a preferred investment destination. Hence, statement 2 is correct.
- Anti-Inflationary Currency: Due to high demand of cryptocurrency its prices have largely remained on a growing trajectory. In this scenario, people tend to hold more cryptocurrency than spending it.
- This will cause a deflationary effect on the currency. Hence, statement 3 is correct.
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Community Answer
With reference to Cryptocurrencies, consider the following statements:...
Benefits of Cryptocurrencies
Fast and Cheap Transactions
Cryptocurrencies offer fast and cheap transactions as they eliminate the need for intermediaries like banks and other financial institutions. This means that transactions can be completed quickly and at a lower cost compared to traditional methods.
Investment Destination
Cryptocurrencies have become a popular investment destination in recent years. With the increasing demand for cryptocurrencies, their value has risen significantly. This has made them an attractive investment option for investors looking to diversify their portfolio.
Anti-Inflationary Currency
Cryptocurrencies are designed to be anti-inflationary, meaning that their value is not affected by inflation. Unlike fiat currencies, whose value is subject to the economic policies of governments, cryptocurrencies are decentralized and operate independently of any government or financial institution.
Conclusion
In summary, the benefits of cryptocurrencies include fast and cheap transactions, investment opportunities, and anti-inflationary properties. These benefits have made cryptocurrencies an attractive option for individuals and institutions alike, leading to their increasing popularity and adoption.
Fast and Cheap Transactions
Cryptocurrencies offer fast and cheap transactions as they eliminate the need for intermediaries like banks and other financial institutions. This means that transactions can be completed quickly and at a lower cost compared to traditional methods.
Investment Destination
Cryptocurrencies have become a popular investment destination in recent years. With the increasing demand for cryptocurrencies, their value has risen significantly. This has made them an attractive investment option for investors looking to diversify their portfolio.
Anti-Inflationary Currency
Cryptocurrencies are designed to be anti-inflationary, meaning that their value is not affected by inflation. Unlike fiat currencies, whose value is subject to the economic policies of governments, cryptocurrencies are decentralized and operate independently of any government or financial institution.
Conclusion
In summary, the benefits of cryptocurrencies include fast and cheap transactions, investment opportunities, and anti-inflationary properties. These benefits have made cryptocurrencies an attractive option for individuals and institutions alike, leading to their increasing popularity and adoption.
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With reference to Cryptocurrencies, consider the following statements:1. Fast and Cheap Transactions2. Investment Destination3. Anti-Inflationary CurrencyWhich of the above statements can be termed as benefits of cryptocurrency?a)1 and 3 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?
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With reference to Cryptocurrencies, consider the following statements:1. Fast and Cheap Transactions2. Investment Destination3. Anti-Inflationary CurrencyWhich of the above statements can be termed as benefits of cryptocurrency?a)1 and 3 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer? for Current Affairs 2025 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to Cryptocurrencies, consider the following statements:1. Fast and Cheap Transactions2. Investment Destination3. Anti-Inflationary CurrencyWhich of the above statements can be termed as benefits of cryptocurrency?a)1 and 3 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Current Affairs 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to Cryptocurrencies, consider the following statements:1. Fast and Cheap Transactions2. Investment Destination3. Anti-Inflationary CurrencyWhich of the above statements can be termed as benefits of cryptocurrency?a)1 and 3 onlyb)2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?.
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