Justin Kuepper  2016年8月9日

加密货币在上世纪90年代推出以来一直没有被人们习惯，但是该技术的潜力最终获得主流金融机构和专业人士的注意。因参与Facebook而闻名的Winklevoss兄弟计划在今年末推出世界上最大的比特币交易所交易基金，而且在世界一些世界大型银行的底层技术注册了一系列专利。

随着比特币受欢迎程度的增加，金融顾问面临着来自行业前景和客户的棘手问题。他们需要解决这些货币带有的风险并提出建议，但是最终决定还是取决于客户，金融顾问至少应该熟悉怎样鉴别和购买加密货币。他们也应该告知客户当地司法管辖区的加密货币税务和法律问题。

在本文中，我们将讨论像比特币一样的加密货币和金融顾问需要了解什么以便最好为他们的客户服务。

加密货币，区块链技术

加密货币是一种交换媒介，使用加密技术保证交易的安全并且控制货币数量的产生。与中央银行印刷实际货币不同，加密货币依赖区块链技术分散货币的制造过程。一个区块链实际上是所有市场参与者的总账。当有人想要加入这个总帐，这些参与者运行算法评估提交的交易并进行批准。

2009年，比特币成为首个在市场上分散的加密货币，但是其发展过程却充满了曲折。2013年末Mt. Gox 成为了最受欢迎的比特币交易所，处理市场总交易量的70%，但是该机构在2014年初倒闭，原因是价值4.5亿美元的85万比特币失踪。该机构关闭之前比特币在地下市场Silk Road也变得臭名昭著。

在那之后许多加密货币开始出现，但是比特币仍然是最流行的加密货币，2016年8月2日每个比特币的售价为546.10美元。比特币在整个互联网的普遍性使其成为国家货币不稳定或者面临贬值风险时一个不错的代替品，其成熟性使它比许多努力获得交易的新兴加密货币可靠的多。

比特币的优缺点

加密货币可能会在未来社会占据一席之地，但是这并不足以使其成为当前的安全投资产品。在许多方面，投资加密货币更像是投资新兴市场货币，而不是美元或者欧元。作为投机来说可能是个不错的选择，但是价值的剧烈波动使其交不适合交易，其稳定性远远比价格上涨重要。

加密货币的优点包括：

欺诈：加密货币不能出现假币并且不可能像信用卡付款一样被撤消。

结算：加密货币交易都是立即结算不需要任何第三方批准。

不产生额外费用：加密货币不会产生任何的交易费用，因为生产者是由互联网补偿的。

加密货币的缺点包括：

没有安全保障：加密货币可以被电子方式偷走，而且与信用卡不同，个人没有任何持有的证明方式。

可扩展性：加密货币技术层面的可扩展性存在许多问题，这意味着他们距离替代信用卡还有很大的距离。

使用：现在接受比特币付款的商家还非常少，这意味着其作为货币的功能受到限制。

总结

在过去几年中加密货币已经变得非常流行，这意味着金融顾问应该与客户讨论它们。由于这些货币的投机性非常高，金融顾问应该使客户充分了解加密货币潜在的风险。客户还应该向会计或者法律专业认识咨询以确定使用比特币在当地是否有其他的风险。

What Advisors Should Know About Cryptocurrencies

By Justin Kuepper | August 9, 2016 — 7:00 AM EDT

Cryptocurrencies may have been little more than a hobby since their introduction in the late 1990s, but the technology’s potential has finally started to catch the eye of mainstream financial institutions and professionals. The Winklevoss twins—famous for their involvement in Facebook Inc.—plan to launch the world’s first Bitcoin exchange-traded fund (ETF) later this year, while the underlying technology has some of the world’s largest banks filing a flurry of patents.

As Bitcoin’s popularity grows, financial advisors are facing some tough questions and decisions from prospects and clients. They may explain the risks associated with these currencies and advise against them, but the decision is ultimately up to the client, and advisors should at least be familiar with how to identify and purchase cryptocurrencies. They should also be able to inform clients of any tax or legal issues surrounding cryptocurrencies in their jurisdiction.

In this article, we will take a look at cryptocurrencies like Bitcoin and what financial advisors need to know in order to best serve their clients. 

Cryptocurrency, Blockchain Technology

A cryptocurrency is a medium of exchange using cryptography to secure transactions and control the creation of units of currency. Unlike a central bank that prints physical currency, cryptocurrencies rely on blockchain technology to decentralize the process. A blockchain is essentially a ledger that’s kept by all participants in the market. When someone wants to add to it, these participants run algorithms to evaluate the proposed transaction and approve it.

In 2009, Bitcoin became the first major decentralized cryptocurrency in the market, but faced a number of growing pains. Mt. Gox became the most popular Bitcoin exchange by 2013—handling about 70% of all transactions—but the organization collapsed in early 2014 after 850,000 Bitcoins worth $450 million went missing. The currency also became infamous as a currency in the underground bazaar Silk Road before its shutdown.

Many other cryptocurrencies have sprung up since then, but Bitcoin remains the most popular with each BTC selling for about $546.10 as of Aug. 2, 2016. The ubiquity of the currency throughout the Internet has made it a popular alternative in countries where domestic currencies may be unstable or at risk for devaluation, while its maturity has made it a lot more reliable than many newer currencies that have struggled to gain traction. 

Bitcoins Pros and Cons

Cryptocurrencies may have a place in society’s future, but that doesn’t necessarily make them safe investments right now. In many ways, investing in these currencies now is akin to investing in an emerging market currency rather than the dollar or the euro. It might make sense as a speculative move, but the dramatic swings in value make it a sub-par currency for transactions, where stability is much more important than price appreciation.

Some pros of cryptocurrencies include:

Fraud: Cryptocurrencies are impossible to counterfeit (unlike physical currencies) and cannot be reversed (like credit card chargebacks).

Settlement: Cryptocurrency transactions are immediately settled without any third-party approvals (like credit cards) or contracts.

No fees: Cryptocurrencies don’t incur any transaction fees since the miners are compensated by the network (they're paid to verify transactions).

Some cons of cryptocurrencies include:

No security: Cryptocurrencies can be electronically stolen and there is no recourse for the individual, unlike with a credit card.

Scalability: There are a lot of questions about the scalability of cryptocurrencies on a technical level, which means they may be far off from replacing credit cards.

Applications: There are relatively few merchants that accept Bitcoin payments as of right now, which means the usefulness as a currency may be limited.

The Bottom Line

Cryptocurrencies have become very popular over the past several years, which means that financial advisors should be able to discuss them with their clients. Since these currencies are often highly speculative, advisors should make clients aware of the potential risks associated with them. They may also want to consult with an accountant or legal professional to determine if there are any other risks with using cryptocurrencies in their jurisdiction. 

本文翻译由兄弟财经提供

文章来源：http://www.investopedia.com/articles/financial-advisor/080916/what-advisors-should-know-about-cryptocurrencies.asp