Have you heard about Cryptocurrency? There are so many people who are interested in this. These people are investing in different cryptocurrencies because of a big capital return.
But what is it all about? Well, cryptocurrency is simply a digital currency or Internet money which is created and managed using advanced encryption techniques known as cryptography.
This digital money made the leap from being an academic concept to (virtual) reality with the creation of the first type of cryptocurrency which is Bitcoin in 2009.
After a few years since Bitcoin was invented, it grows dramatically. Many people like investors and media are attracted to it especially in April 2013 when it hit the highest rate of $266 per bitcoin.
This cryptocurrency started to gain the attention of people. In fact, it’s market value rise to over $2 billion in recent years.
However, 50% happened and an intense debate arises regarding the future of cryptocurrencies.
Therefore, people are asking if it will be an alternative currency in the future that will eventually replace dollars and euros someday? Or these cryptocurrencies are a passing trend that will just die down.
The Potential of Cryptocurrency in the Future
Several economic experts foresee a big change in crypto. They see that it will be institutional money that is already in the market today.
Moreover, there is the chance that cryptocurrency will be included in the stock market like the Nasdaq.
If that happens, this would be additional credibility to blockchain and its uses as an option to our standard currencies.
Some people believe what cryptocurrency needs to have a secure spot in the future is a verified exchange-traded fund (ETF).
An ETF will make it easier for people to invest in cryptocurrency like Bitcoin. But another challenge that this digital currency will have to face is why would people invest in it?
This is indeed a revolutionary technology that will lead us to the future. However, we believe that it has a long way to go before it can replace our physical currencies.
Would you like to use this digital currency in the future? Share this story with your friends who might be interested in this one.