ABSTRACT
Technology is changing the way we live, work and make payments. Blockchain technology has emerged with the creation of cryptocurrencies and has been of great relevance in enabling technological solutions in sectors such as energy, industry, and finance.
Recent studies indicate that cybercriminals are targeting victims using cryptocurrency mining. Considering this new perspective, which attributes to cryptocurrencies not only a set of opportunities but also a set of risks, this study identifies the main advantages and the main risks associated to the cryptocurrencies.
On the positive side, the speed of transaction, the reduced cost, the privacy, or the permanent availability of the system are highlighted. On the other hand, concerns are identified regarding the volatility, the reduced supply of goods and services that accept cryptocurrencies as payment, the high energy cost and environmental threats, the potential criminal attacks, money laundering and the funding of criminal activity.
In particular, it should be highlighted that the lack of regulation makes cryptocurrencies risky and volatile. Their values can fluctuate significantly over short periods of time and there is a risk of fraud and hacking. It is important to carefully consider these risks before investing in cryptocurrencies.
In the future we can expect an increase in the creation of digital currencies by central banks to combat some of the risks associated with cryptocurrencies, regarding the lack of any guarantee or legal protection for cryptoactives.
