Do cryptocurrencies have a future?
If you are considering investing in cryptocurrencies you are surely asking yourself which crypto will be the best, which one has the best potential or is going to explode. You are looking for the profits of cryptocurrency, information and predictions.
But the truth is, the more time you are spending on searching about the most profitable cryptocurrencies you will be even more confused.
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Since Bitcoin got success, people have noticed that cryptocurrencies are the future and they started investing. The price of Bitcoin depends on two factors: interest in terms of investment and the number of transactions carried out on the market. The interest in cryptocurrency can be generated by media and government organizations. That’s why stealing from exchanges or undermining Bitcoin’s value can lead to withdrawal of investors and hence, a drop in price of Bitcoin.
Despite the fluctuations in the cryptocurrency market, investing in Bitcoin will always be profitable. Mostly because BTC was the first cryptocurrency, and the newest is always the biggest advantage in the crypto world.
Do cryptocurrencies really have potential? Well, it is hard not to notice that every year the world is getting more and more digital, the same as the banking system. People are becoming more convinced of the technology and cryptocurrency, in fact they give up the services of central banks. Why is using cryptocurrencies better than using bank services?
The main reason why people trust more blockchain technology is security. A reliable encryption technique is used throughout the cryptocurrency transaction process to protect against hackers and information forgery, which often happens in the banking systems.
Low transaction fees is definitely one of the most important reasons why people move to cryptocurrencies. Imagine that every time when you are checking your bank statement, your account is charged a fee, and so is when you make a transfer, the same when you make a transfer, so if you take multiple actions each month you are paying huge fees. Cryptocurrency transaction fees are incomparably lower than those in the traditional financial system, and what is more, the goal of many platforms is to opt out or keep them to a minimum.
The speed and transparency of transactions is definitely a big advantage of cryptocurrencies. In traditional banking systems intermediaries and paperwork complicate the whole banking process. In contrast to cryptocurrency transactions where they are one-to-one affairs, taking place on a peer-to-peer networking structure which ensures speed and greater fluidity.
Privacy is a priority for most people when it comes to transactions. In cash and credit transactions the whole history of your actions is recorded by the bank. In the crypto transaction, each one is taking place between two parties, so your means goes straight to the recipients without any recordings.
Of course, these are not all the advantages of having cryptocurrencies, but as you can see, there are many factors that show that digital assets are the future.
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