 Few assets have attracted as much support and criticism as cryptocurrencies. Are they just a fad or are they the future? With Facebook recently announcing the launch of its own digital currency and market leader Bitcoin hitting 15-month highs in June, cryptocurrencies are back in the spotlight. But the truth is they never really left the stage. Big names in business such as Microsoft and Newegg, the online retailer, accept payments in bitcoins. The Australian stock exchange is even working on a settlement system based on cryptocurrency's underlying technology, blockchain. Meanwhile, the rise of Ripple, prized for its quick and cheap transaction speeds, or Ethereum, which has its own internal tokens, have helped gain cryptos some fans. While some argue Facebook's proposed Libra is not a true cryptocurrency because of the limited pool of processing groups behind it, there are now more than 2,300 digital currencies traded. But they certainly have a long way to go before they gain true mass appeal. One reason is volatility, which can make this an appealing asset class for traders but can deter others. As volatility increases, so does the risk involved. Second is security, with numerous reports of digital thieves hacking into e-wallets and digital currency exchanges. Perhaps the biggest concern, though, is regulation. Some countries have effectively banned cryptocurrencies. Meanwhile, US authorities have delayed decisions on approving digital currency exchange-traded funds. While regulation may prove an essential ingredient for crypto to move fully to the mainstream, blockchain technology that supports them can play an important role in providing seamless cross-border transactions in a world dominated by global online retailers and service providers. Plus, as digital currencies are decoupled from the wider economy, they can also act as safe havens in times of market turmoil. And just as cannabis and other new industries offer investors risks but also opportunities, more are seeing potential value in trading on cryptocurrencies as part of a wider and diversified portfolio.