A crypto currency is a kind of virtual currency that roles as money. This digital currency acts as a mode of interchange and also as a substitute for other kinds of currencies. The mining process of crypto currency like bit coin is designed with the motive of decreasing traditional currency creation. It also provides an opportunity for huge yield funding. This activity undoubtedly provides so many benefits to the users but it has also some drawbacks. It has a limitation of depreciation. Like any other asset, its value also faces the challenge of losing its price. It is quite risky that sometimes its value gets increases or sometimes decreases. In this case, the bit coin mining becomes harmful for the miner. Some websites give the free bitcoin miner services to the people. These companies facilitate people by doing the mining business. The few drawbacks of bit coin mining are:
- If you want to exchange your bit coin into another currency, you have a limited option. You need to search those shops that accept bit coins currency. The bit coin exchange stores are very limited around us.
- The usage of electricity is another disadvantage in the mining of bit coins.
- The value of a bit coin is not fixed. It varies regularly. The time when the value of bit coin decreases the miner goes into loss.
- One more issue that you must be aware of it is its security issue. The crypto currency is a decentralized organization it has no ways of the security system.
- The bit coin system is formed with code. Each bit coin has a unique code which is the identity of it. Every code is known by the programmer and also it can have technical issues anytime.