JPMorgan again criticizes the crypto currency

Crypto currency is not a currency – at least, according to the American multinational banking financial service of the holding company JPMorgan Chase and Co.

JPMorgan having a history that is far from crypto-currency, has told a large number of clients that crypto-currencies are meaningful only as a hedge in their investment portfolio and are neither viable value stores nor effective currencies.

"The huge volatility of the price of crypto-exchange rates relative to traditional currencies or to the basket of goods and services. Only amateurs use crypto currency as a means of exchange, at least for ordinary transactions as payment for goods and services. "

Indeed, the crypto-currencies, such as Litecoin and Bitcoin, struggled to get widespread. Nevertheless, the note does not mention potential innovations, such as the Lightning Network from Bitcoin, or LitPay from Litecoin based on VISA, all of which can make the currency similar to traditional currencies, and thus promote large-scale adoption of them as payment instruments.

Author: Andrey, analyst Freedman Club Crypto News

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