Is cryptocurrency a form of money?

Although cryptocurrency is defined as a “digital currency” – meaning it is a form of money – most businesses and consumers have not adopted it as a common medium of exchange. In other words, most stores will not accept crypto as a means of payment.

Bitcoin may be an exception, as some businesses have accepted it as payment for goods and services. So, if crypto is not a common form of money, why would people buy it?

It is an alternative asset class. While some crypto investors are optimistic that cryptocurrency may one day be accepted as a form of money, most see crypto as an alternative asset whose value could increase.

It is a way to invest in blockchain technology. Some people purchase cryptocurrency as a way to indirectly invest in its underlying blockchain.#BinanceAlphaAlert #CryptoRegulation #EthereumSecurityInitiative #BinancePizza #BinanceTGEAlayaAI