ADVANTAGES AND DISADVANTAGES OF DIGITAL MONEY

Abstract

The article is devoted to the problems of circulation of crypto assets. Due to the convenience and transparency of use, crypto assets are beginning to attract more and more users. However, the author notes the high risk that threatens all participants of the crypto exchange. The relevance of the study is primarily due to the growing contradictions between the increasing attention to digital currencies on the part of users and the almost completely absent legal regulation of its circulation. Despite the fact that digital money appeared relatively recently, they quickly gained popularity. The growth in popularity is primarily due to the obvious advantages that the use of digital money in circulation promises. First of all, ease of use, accessibility, and security of transactions contribute to the growth in popularity. Cryptocurrency is one of the varieties of digital money, its specificity lies in the fact that it is based on blockchain technology, that is, a distributed registry of data, which in turn are based on cryptological protection methods. Cryptocurrency itself is a consequence of the digital transformation of the economy.