Sentences with phrase «cryptocurrencies as a unit of account»

The huge volatility of the price of cryptocurrencies — with respect to either traditional currencies or to a basket of goods and services — has made use of cryptocurrencies as a unit of account impractical.

Not exact matches

There have been plenty of cryptocurrencies over the years, and they have all exhibited potential for storing value, operating as a unit of account and proving a reliable medium of exchange.

Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status.

This ideal cryptocurrency would achieve the following properties of a currency, namely, be used for transactions and payments, act as an asset or store of wealth and used as a unit of account.

While some people use bitcoin or other cryptocurrencies simply because they have no other option available to them for a particular type of transaction, Peetz and Mall argue that bitcoin is not a transactional currency — mainly due to its inability to act as a reliable unit of account.

It explains that cryptocurrencies can be traded digitally and used as unit of account.