The compatibility of the wallet in case you already have an account etc. Needless to say, your fiat money wealth and risk appetite will be a driving force, as a hobbyist or investor or someone from the community of backers.

Advantages of cryptocurrency over digital transactions of fiat money:

• It is available at a click of a button, enabling faster settlements, across the world.

• Transfer cost across borders is much lower, as cryptocurrency transactions avoid complicated costs such as payment processor fees and exchange rate charges.

• Altcoins (cryptocurrencies other than the original Bitcoins) evolved to maintain privacy, protecting the identity of the people in a transaction.

• It uses cryptography technology to process, secure and verify transactions, making it secure.

• A cryptocurrency transaction is an entry in a blockchain, that uses digital ledger technology, which is difficult, if not near impossible to manipulate.

• It is not controlled by a central authority such as a bank.

• Transparency is enabled because all transactions are seen on every participating computer on the network, along with public keys of both senders and recipients.

Disadvantages of Cryptocurrency:

• Cryptocurrencies are difficult to understand, and therefore use.

• Once made, a transaction cannot be changed or reversed.

• If a wrong a transaction is made the only thing one can do is ask for a reversal from the recipient, who may or may not agree to refund the transaction.

• Bitcoins value has crashed 75% four times since 2010, making it unpredictable, and risky to work with.

• Exchange of cryptocurrency for fiat money or the other way around is neither easy nor cheap.

• A Bitcoin transaction was actually hacked once, way back in 2010.

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