Can crypto replace other currencies?

[Oki 675]

Crypto will not be able to replace fiat currencies around the world, the reason is that fiat money is backed by the government and there is no way for the government to remove the country's fiat currency. In addition, each country has its own currency and bank. I think cryptocurrency will only be a crypto asset and alternative finance.

[ja8u2s 130]

As we can see friends, cryptocurrencies are never going to replace physical currencies since they are too well known throughout the world, but the best thing about cryptocurrencies is that they are used to make good investments.

[jcmpalacios 53]

The legal aspect of virtual currencies is still in the initial stages, since in its conception a legal framework is not conceived other than the provisions of the blockchain for its operation, but at the time of its adoption worldwide, governments have tried to implement it. Regulation to maintain in some way control of its management.

[Yuri Nurov 227]

Crypto cannot replace other currency because its not a legal tender and not generally acceptable as a means of exchange. Crypto currency is different its used for investment only but cannot be withdrawn as cash

[kion 381]

Base on my personal opinion, cryptocurrecy would not replace any currencies because the bank notes are the most accepted and also the wide means of exchange, so it would be difficult for crypto to counter them since the crypto is not even well accepted till now .

[abdullah553 1981]

On 1/6/2020 at 5:34 AM, Jalil Baloch said:

I want to know whether it will remove all other existing currencies in the world or not in upcoming few years? Or it will not happen at all? 

Yes, it may be that this is the case that many countries today are trying to do a good study of digital currencies in order to establish markets and recognize them as international currencies. I do not think that Bitcoin will be local only.

[Choudhary umer 0]

Yes my friend you can easily exchange your crypto money in your national money e I want to tell you that there are many exchanges and the many banks giving the facilities to change your Bitcoin in your national currency

[Sypher9 1162]

On 1/6/2020 at 5:34 AM, Jalil Baloch said:

I want to know whether it will remove all other existing currencies in the world or not in upcoming few years? Or it will not happen at all? 

In my own opinion I don't think crypto currency will ever bring to an end Fiat currencies because those are representatives of each country so I don't see this taking place even in the future,no way.

[Mostwanted007 265]

For me, I don’t think that your thoughts will be happen, because some of countries are starting to adapt it as their part of daily transactions. So that the government of different countries won’t let it happened because they want a better economy, they think that crypto currency will help all the local currency to have a better community. Crypto currency is the new dynasty when it comes to digital money, because it is a future changing, we’re many people are adapting it as their money transactions. But the possible is many countries around the world will be accept crypto as their part of economy.

[korobi909 193]

Yes, It is possible to be replaced by bitcoin you know why? Because crypto currency (especially bitcoin) is more convenient than the fiat currency or the actual cash crypto is more accessible than it and less hassle to spend just scan it and send it that’s what I think.

[kumkum444 142]

Replacing fiat currency is hard but the crypto is growing and spreading all over the world and will work almost in all the countries in future. However fiat currency will not replace completely by the crypto but the systems will change to make stable situations for the use of both.

[fahima000 160]

Cryptocurrency is a new form of breakthrough in payment technology in modern societies that increasingly demands efficiency in transactions, so cryptocurrency is quite influential on the payment system. I guess that the replacement can happen in 20 years, not earlier. People are very dependent by Fiat now.

[sultana555 159]

Personally, I do not think that this will happen soon and that an event will take a long time to happen because most countries are based on bank transactions and transactions based on traditional fiat currencies And because the replacement of cryptocurrencies now takes time to seriously rebuild the economic system, based on currency technologies

[salma777 155]

at the present time it is impossible that happens because almost all countries and governments consider crypto as illegal and we can't tell about future but if crypto kept raising this way there is a big chance that it will get more used in life and won't be illegal to use it 

[Alexbhatti 1492]

I don't think it can be possible where there are the people who can't leave their traditional currencies. I would tell you that cryptocurrencies can be used world wide, but it cannot be replaced with traditional currencies. Traditional currencies are the the sign of nationalism, and no country will allow to replace with any country. It is just my opinion, let we see in the future.

[Ram96 17]

Perhaps in the coming years, cryptocurrencies will be used a lot all over the world and this development is a very beautiful thing and it will save people a lot of time and effort, but it cannot be dispensed with coins that are the currency of the state because there are many areas that cannot use encryption in their field

Edited January 31, 2021 by Ram96

[Duddi01 401]

Dear mate according to my opinion I think that crypto never replace the other currencies because in many areas of the world there is no internet facilities and many people's do not know much about it and fiat money is the basis needs of peoples so in this way crypto never replace the national currency. 

[Mir Hamza 2888]

Cryptocurrencies can never replaced with real currencies. Cryptocurrency is a digital currency and its price fluctuates with a lot of speed, we can trade on it and make a lot of money.  But cryptocurrencies can never take the place of real currency nor can real currency replace cryptocurrency. 

[Sumon21 151]

No.  It is never possible.  Because everyone's use is different. One cannot fill the lack of the other. Because we can use local currency in all cases but not crypto currency . So I don't think it will be possible to replace it.

[Stiffen white 827]

Yes it can replace other currency, and cryptocurrency do this . Because due to price high people want to deals with cryptocurrency nd want to earn from cryptocurrency.  So after passage of time people would prefer more cryptocurrency and this would be change . So we can say that it can be replaced but time required. 

[Gimini 1]

I can not giving you accurate answer but on my opinion I think crypto currency can not replace the world currencies in few years because there is some countries that are not using crypto currencies while others are banned from using them. I think even it will happen it's going to take alot of term before crypto can replace world currencies on my opinion.

[Alex Fron 602]

Not at all my mate, it cannot be replaced with the traditional and national currency in any country. It is because Cryptocurrency is becoming highly accepted currency now a days but it is still not accepted by mostly people of the world. The people of many countries still believe in their national currency which is also the sign of any nation. They will not leave their national currency for Cryptocurrency, but it is true that the Cryptocurrency will also become a most useful currency in all over the world.

[Obliv0n 333]

The possibility of this happening is very small, since all countries defend their interests, including their fiat currency, so assuming that cryptocurrencies will replace fait money in its entirety is like dreaming of dragons and mermaids, it is impossible.

[Silwester_888 439]

I think it will not be possible, somehow if it is, then this seems very impractical. Because cryptocurrencies are something unique and we are not committed to use them for replacing other currencies or used instead of these currencies. Yes we can say that the use will be increased in coming years but definitely this will not replacing any other old existing currencies.

[UnknownBoy 70]

I am not sure about that the cryptocurrency will replace other currency or not and I am not sure about that. But I think that it will not replace cryptocurrency because in many countries it is illegal but their currencies are also working. But the currency will also be defeated by cryptocurrency.