Too many currencies to navigate at the moment: The recent spike in popularity of Bitcoin is a negative, not a good. Multiple blockchains are being used to create digital currency, each with its own set of limitations. According to Tessler, determining which digital currencies are most suited for certain use cases, such as broad adoption, will take time.
Takes effort to learn how to use them: To utilise digital currencies, the user needs invest time and effort in learning how to open a digital wallet and securely store digital assets. To become more widely accepted, the digital money system must be simplified.
Blockchain trades can be expensive:
To validate and record deals on the blockchain, computers must solve complicated equations. This method consumes a lot of power, and the cost rises as the number of trades grows. Although these are unlikely to exist under a CBDC due to the central bank's supervision, extensive consensus mechanisms are not necessary.

Digital currencies, while heralded for their potential to revolutionize finance, are not without drawbacks. Chief among these concerns is the issue of security. The decentralized nature of many digital currencies makes them susceptible to hacking, fraud, and theft, as evidenced by numerous high-profile breaches in recent years. Additionally, the lack of regulation and oversight in the digital currency space raises concerns about illicit activities, such as money laundering and tax evasion.

Another significant drawback is the volatility of digital currencies. The value of these assets can experience extreme fluctuations, posing risks for investors and hindering their use as stable mediums of exchange. Moreover, the environmental impact of energy-intensive mining processes, particularly in the case of cryptocurrencies like Bitcoin, has drawn criticism for contributing to carbon emissions and environmental degradation. As the digital currency landscape continues to evolve, addressing these drawbacks will be crucial for ensuring the responsible and sustainable development of this financial innovation.