The debate over whether the Bitcoin bubble is bursting has caused concern that cryptocurrency may not be a viable long term investment in the future, however with Bitcoin now trading at a substantial over $9000 per coin cryptocurrency has an optimistic future.
Here, MD Blockchain for The 10x Growth Account, Andrew Pritchard, unveils why you should take notice of the trend with his six reasons why cryptocurrency is (still) the future.
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1. The New Generation of Cryptocurrencies
Bitcoin has lead the way in cryptocurrency and is definitely the most documented crypto coin to date but today if you want to see a large return on investment you will need to look further afield.
Everyday new cryptocurrencies are born and developed proving why the cryptocurrency trend shows no signs of slowing down. For instance, Litecoin is slowly creeping up on Bitcoin’s heels within the last year alone the price of Litecoin has grown by over 7000% so now would be the perfect time to invest in Litecoin before it becomes mainstream and the price per coin skyrockets similar to Bitcoin’s recent spike in price.
There are many other alternation alt-coins to choose from such as Ripple, Ethereum (opens in new tab) and Dash thus the possibilities are endless for cryptocurrency investment.
2. Transparency & Trust
The technology Blockchain records and verifies every cryptocurrency transaction 24/7 thus trust and transparency is at the forefront of this digital currency.
As a result Blockchain is now being used in a vast amount of industries including healthcare, finance, supply chain management and real estate, this indicates how beneficial the technology that supports cryptocurrency is to society.
This has given the world of crypto its first foot in the door ready for expansion into further industries and offering new capabilities to businesses.
3. Instant Ownership
One joy of investing in cryptocurrency is the fact you receive instant ownership, there are no complicated forms or long lead times between deciding to purchase and receiving ownership. Therefore if you would like to invest some cash immediately with limited hassle cryptocurrency is a strong solution!
4. Companies are ready for change
Many global market leading brands are constantly searching for the latest technology that can further their market share, revenue and opportunities - cryptocurrencies’ success has not gone unnoticed and has been identified as a potential payment method by huge organisations such as Ebay.
Ebay has recently faced a growing pressure to accept cryptocurrency payments and as such is experimenting how they can apply the digital currency to their business model following their decision to drop PayPal as their preferred payment method for consumers.
Microsoft, AirBnB and Uber have also all started to research how changing their practices to include cryptocurrency as a payment option could reap rewards in the long term.
Admittedly, this research is in its early stages of development but it is predicted that it will not be long until cryptocurrency is involved in everyday business transactions.
Cryptocurrency is a new innovation that has been incorrectly tarnished as being a complex investment as potential investors originally did not take the time to fully understand the process.
Once you have understood the basics of cryptocurrency and how it operates cryptocurrency is in reality very easy to buy. The cryptocurrency technology Blockchain makes it incredibly simple to buy and monitors the currency’s current market position for you.
You do not need any professional equipment; the accessibility of crypto is unprecedented all you need is an internet connection and a device and you are all set to invest.
6. Tighter Crypto Regulations
As cryptocurrency exchanges have increased considerably crypto regulations have in turn increased and faced tighter terms and conditions to ensure the digital currency remains fair and credible.
To prevent any money laundering or fraud the European Parliament have voted in favour of introducing tighter crypto-regulations and eliminating anonymity helping to strengthen “legitimate” exchanges, improve Blockchain security and keep all crypto investments above board in order to enable the digital currency to prosper further in the future.
- Andrew Pritchard DipPFS is MD Blockspace, Saas for 10x Growth Account (opens in new tab).