Nowadays, crypto culture, technology and digitalisation are capturing the whole world. Not just in business either, we cannot imagine our day-to-day life without technology. In our busy lives, we want things done in minutes, even seconds, but in a secure way. Cryptocurrency is based on that mindset.
A cryptocurrency is a digital form of currency and one of the most beneficial mediums of exchange. It has all the essentials we want in our daily lives. It is fast and secure.
Cryptocurrency is decentralised, so no government or centralised bodies are involved in it. Because of that, we can make payments in minutes in any part of the world without any exchange rate fees.
Cryptocurrency works with blockchain technology. A blockchain is a digital record of transactions. Through this method, transactions will be recorded in blocks, each account has an individual block which is distributed in ledgers.
A Ledger system makes the transactions more visible, which means it lessens the chances of fraud/scams and other problems. You can store your cryptocurrency in a digital wallet. There is a very low chance of anyone stealing or you losing your cryptocurrency unless you lose your digital key (unique password) or lose your hardware wallet.
Bitcoin was the first cryptocurrency. After Bitcoin, other cryptocurrencies came into the market as well. However, as we have seen over the past year, in particular, all the other cryptos on the market can be affected by fluctuations in the value of Bitcoin. Bitcoin sets the trend of the crypto market.
If you look at the progress of Bitcoin since 2009, the interest people show and the number of people getting involved in cryptocurrency from 2020-2021 is staggering! It would not be wrong to say that cryptocurrency will be the future.
Big brands like Tesla, Apple, and Facebook have already started investing in Bitcoin. Subway and Microsoft also welcome payments in Bitcoin. Countries like El Salvador are looking to make Bitcoin a legal tender.
Ethereum is the second most trustworthy cryptocurrency. Ethereum is gaining so much popularity in the crypto market since the dramatic increase in crypto traders in 2021. Some analysts and investors have begun to notice that Ethereum is breaking the records of daily trading. It can now achieve the highest market cap.
Ethereum developers are currently working on Etherium 2.0 which will be expected to launch in 2022.
"More than $13 billion worth of ether has been staked on Ethereum 2.0 as momentum builds 2.0 as momentum builds behind the network overhaul." INSIDER
If you are interested in entering the crypto market it would be good to look into some of the other leading cryptocurrencies such as BitcoinCash (BCH), Solana (SOL), Cardano (ADA), and Litecoin (LTC).
“The Financial Conduct Authority's latest consultation paper estimates that around a 2.3million Britons now own cryptocurrencies, up from a 1.9million. It represents a leap of 3.9 per cent to 4.4 per cent of the adult population now holding crypto." Thisismoney.co.uk
Invest in crypto today and be one of the pioneers. Become a part of the change.
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