Bitcoin trading and business
The future of cryptocurrency
When you look at the crypto-based currency market, it seems exciting, worrisome, and mysterious at the same time. The pioneer, Bitcoin, has gained immense popularity in the past few years. There is no doubt that the currency has fallen significantly, but it has regained its status again. Moreover, ICOs for new crypto-based currencies are emerging in a rapid phase.
A lot of money is being invested in the bitcoin industry
We cannot ignore the fact that a huge amount of money is being invested in this field. But according to financial experts, the whole future looks a little uncertain. The future of cryptocurrencies depends more on the predictions of technological trends and the speculations that have been made. There are some professional cryptocurrency advocates who think about a bright future, while others warn people about the future of cryptocurrency.
Replacing national currencies by 2030
Some futurists believe that cryptocurrency will remain and rule the financial market. Cryptocurrencies are expected to replace national currencies by approximately 25% by 2030. Cryptocurrencies are considered more efficient, especially because of the way they work. Thus, exchanging national currencies will not be a big deal.
In 2009, when Bitcoin was introduced, it showed a lot of potential and was successful. Within a year, it had blossomed and still continues to grow, making it legal tender and an asset in many countries. In the past few years, many other cryptocurrencies have emerged and their popularity has legitimized the new asset or currency apart from the traditional currencies operating in the global financial economy.
We cannot deny the fact that there will be some money to be lost in the cryptocurrency economy. But, it is also believed that there is a high possibility of generating lucrative revenue.
You cannot expect crypto-based currencies to work like cash
Cryptocurrencies run on blockchain technology and are not linked to any central authority unlike traditional currencies. It is often referred to as the blockchain economy by some experts. The IRS considers cryptocurrency more like property than actual currency. It wouldn’t be wrong to say that Bitcoin is a bit like selling real estate.
When you sell your Bitcoin, you are transferring confidential digital information to someone else. There are several Visa companies that have already made it easier to use cryptocurrencies for regular transactions. But cryptocurrency is still something that needs to take a strong seat in the mainstream economy.