Cryptocurrency continues to climb in popularity, with analysts predicting a market value of approximately USD $2.73 billion by the year 2025.
Cryptocurrency, NFTs, and blockchain are all terms that netizens across the world are probably rather familiar with, even if they don’t fully understand what they mean. To be fair to such individuals, the major source of these words are mostly just middle-aged dudes bragging about their investments and urging other people to get into doing so themselves. That doesn’t really leave a lot of room for understanding, and makes cryptocurrency and NFTs come off as some get rich quick scams, which the latter absolutely is. However, to put it into extremely simple context, cryptocurrency is essentially a form of online money. Money itself is just paper that we decide to add value to as a society, right? So, imagine that concept, but applied to virtual concepts of monetary exchange. The biggest roadblock that individuals face when trying to understand crypto is how it’s more valuable than real-life money. The answer is simple: the worth and exclusivity that we associate with the virtual currency is what helps in making it so comparable to and formidable in front of real-life money.
This also means that cryptocurrency is typically a very unreliable form of investment, since currency rates can drop all of a sudden, leaving individuals who purchased Bitcoin, for example, vulnerable to massive monetary loss. However, in recent times, going rates for such currency have sort of started to stabilize, with much of this owed to how online platforms are attempting to legitimize the currency. With platforms either building in compatibility with the likes of Bitcoin and Ethereum, or building their own cryptocurrency, the virtual exchange is now a relatively reliable form of currency with actual, near-tangible results in exchange. Even the likes of PayPal are looking into designing their own venues for cryptocurrency exchange.
Back in 2020, the global crypto market stood at an impressive USD $1.44 billion; that number grew by a steady 12.9% and reached USD $1.63 billion. Analysts suspect that at such a steady rate of growth, compounded upon by individuals growing less and less finicky around the concept of virtual currency, these numbers will grow to a wild USD $2.73 billion.
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Cryptocurrency, NFTs, and blockchain are all terms that netizens across the world are probably rather familiar with, even if they don’t fully understand what they mean. To be fair to such individuals, the major source of these words are mostly just middle-aged dudes bragging about their investments and urging other people to get into doing so themselves. That doesn’t really leave a lot of room for understanding, and makes cryptocurrency and NFTs come off as some get rich quick scams, which the latter absolutely is. However, to put it into extremely simple context, cryptocurrency is essentially a form of online money. Money itself is just paper that we decide to add value to as a society, right? So, imagine that concept, but applied to virtual concepts of monetary exchange. The biggest roadblock that individuals face when trying to understand crypto is how it’s more valuable than real-life money. The answer is simple: the worth and exclusivity that we associate with the virtual currency is what helps in making it so comparable to and formidable in front of real-life money.
This also means that cryptocurrency is typically a very unreliable form of investment, since currency rates can drop all of a sudden, leaving individuals who purchased Bitcoin, for example, vulnerable to massive monetary loss. However, in recent times, going rates for such currency have sort of started to stabilize, with much of this owed to how online platforms are attempting to legitimize the currency. With platforms either building in compatibility with the likes of Bitcoin and Ethereum, or building their own cryptocurrency, the virtual exchange is now a relatively reliable form of currency with actual, near-tangible results in exchange. Even the likes of PayPal are looking into designing their own venues for cryptocurrency exchange.
Back in 2020, the global crypto market stood at an impressive USD $1.44 billion; that number grew by a steady 12.9% and reached USD $1.63 billion. Analysts suspect that at such a steady rate of growth, compounded upon by individuals growing less and less finicky around the concept of virtual currency, these numbers will grow to a wild USD $2.73 billion.
Read next: Study shows a majority of consumers find ads on almost all mediums as irrelevant