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All of the following are benefits to using cryptocurrencies except O A. it is insured by the Federal Reserve Bank OB. there i
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Answer #1

ANSWER:-

All of the following are benefits to using cryptocurrencies except -> A,B,C,D.

Explanation:-

Option A-"it is insured by the Federal Reserve Bank"-Since government does not insure any type of cryptocurrencies as bank deposits ,they are not safe.

Option B-"there is protection from inflation"- This statement is not true as they suffer from arbitrary supply inflation or massive degradation in purchasing power. so, in terms of battling inflation, they are worst.

Option C-"it cannot be seized by the government"-As many governments like in Sweden,US, Bulgaria have seized cryptocurrencies ,it is also not a benefit.

Option D-"there are no taxes"-Since the US internal revenue service considers cryptocurrencies as assets,so they are taxable.

Only option E is the benefit of using cryptocurrencies as they are faster and easier to use than traditional payment methods.

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