In recent years, it is undeniable that technology has known considerable progress, it even

managed to sneak its way into our wallets in the form of crypto currency. Although it gained
in popularity in recent years, many countries are still reluctant on adopting it as their official
currency. The reluctance stems from the many issues crypto currency has faced such as
hacking, deep fakes and untraceable money laundering, which are justifiable issues that
lead to the lack of enthusiasm to adopting crypto currency.
Back in 2020, with the rise of covid cases and the world going into lockdown, many people
showed interest in crypto currency, and started investing in various currencies such as
bitcoin….etc. But as it has proven to be unreliable. Cryptocurrencies are known for their
ability to work in a phenomenal speed, it is one of their main characteristics, but that also
makes them highly untraceable, which make them the preferred currency of criminals. Their
efficiency in high speed makes them hard to control especially for new users which makes
them easy targets to pry on.
In addition, since all transactions are done within the wide web, cyber-attacks are more
common. The fact that the currency is digital allows the hacker to gain access to all the
assets of the person, which can lead to major losses. Unlike in banks, if there was a robbery
your assets would remain intact due to the various insurance policies adopted by the bank,
that insure the safety of your funds.
Although cryptocurrencies aren’t a very great option for a countries main currency, they
can be a great option for financial investments. Despite the fact that they can be of high risk
they are also famous for being of high reward.
Cryptocurrencies have been on a rise for the last few years, however they aren’t the fittest
candidate to substitute the official currency for they have no effect on the economical world,
nor are they a hundred percent safe, but they can great options for investments. To be
adopted by countries, cryptocurrencies need a few more years to solve their security issues
and to make them safe for the everyday transactions.