Question

question 9 of 10
what are some disadvantages to using cryptocurrency as a payment method?
your identity is shared with the world since it is on a public ledger.
not all businesses accept it and transactions cant be changed.
transaction fees are higher than financial institutions due to the blockchain.
you can pay from anywhere and dont have to go through a financial institution.

Explanation:

• The first option is incorrect: cryptocurrency transactions on public ledgers are pseudonymous, not directly revealing personal identity.
• The second option is correct: Cryptocurrency adoption among businesses is limited, and blockchain transactions are immutable (cannot be reversed/changed), which is a drawback for payments.
• The third option is incorrect: Transaction fees are not inherently higher than traditional financial institutions; they vary based on network congestion and can be lower in some cases.
• The fourth option is a benefit, not a disadvantage, as it highlights accessibility and decentralization.

Answer:

B. Not all businesses accept it and transactions can't be changed.