The Future of Cryptocurrency – What’s Written on the Walls?

The Future of Cryptocurrency – What’s Written on the Walls?

Image Credit: Crypto coin photo created by freepik

Cryptocurrency or simply Crypto is a mode of currency that is solely digital and was created in binary data fashioned to act as an exchange medium, where the transaction is made possible through highly encrypted cryptography. Individuals store ownership records in the form of coins forming a ledger, in a computer-based database, which is highly secured.

Follow us on

Install our App

Access is made in such a way that they have the power to control if they want to add up more coin ownership or if they want to transfer some of it.

Many of the crypto schemes make use of validators to sustain and conserve the flow of Cryptocurrency.

Image Credit: Cryptocurrency exchange photo created by master1305

Cryptocurrency made its presence in 2009 with the formation of Bitcoin. Since then, the growth of Bitcoin has been massive but it was not until 2013 when it caught the attention of stakeholders and the market.

In 2013, it reached a peak of $266 per Bitcoin after following a 10-fold surge in the previous two months.

Follow us on

Install our App

This was enough to make the investors and media notice with a keen curiosity. Bitcoin then went to top the stalk market with a market value of more than $2 billion.

But then, it suddenly suffered a decrease of 50%, which put up this question in everybody’s mind, ‘What is the future of Cryptocurrency?’ ‘Is Cryptocurrency safe and will it be stable enough to use as a long-run currency?

Image Credit: Wealth photo created by freepik

Can it become a convenient source of currency and become as prevalent as Dollars and Euros gradually? Or is it just a temporary fad which will extinguish soon enough without reaching its maximum potential?

Follow us on

Install our App

It has aroused confusion across the minds of millions of people globally. So, in this article of today, we are going to make an extensive analysis regarding the future of Cryptocurrency.

What Can Become Of Cryptocurrency In The Near And Far Future?

One of the most important things to keep in mind while talking about the future is the rapid technological advancements.

With technological growth, as cyber patterns and encryptions are becoming stronger and safer, the efficiency of hackers is also on a constant rise.

Image Credit: Identity theft photo created by Racool_studio

Follow us on

Install our App

Hackers can hack through the systems with much more ease than they used to in the near past. Thus, they can hack into your crypto wallet and steal all the information.

Computer crashes can also lead to this misfortune.

But on the brighter side, more secure encryptions keep your Cryptocurrency safe and even if it’s a computer crash, your crypto wallets can be retrieved easily.

Secured encryptions even keep information safe from hackers and cyber engineers.

Image Credit: Litecoin photo created by master1305

Some companies and businesses have started using Cryptocurrency as a mode of payment and transaction.

Follow us on

Install our App

As it is easy to use, and paper-free, and hassle-free, the acceptance has been more popular than it was ever estimated.

It is considered that with the invention of newer technologies, this percentage of acceptance will grow even more as better advancements make Cryptocurrency even easier to use.

Image Credit: Litecoin photo created by master1305

Bitcoin, Blockchain, and other modes of Cryptocurrency are not only used in the share and stock market but also in other fields and industries such as the medical sphere, insurance, fintech, etc.

The growing popularity hints at the fact that with more acceptances, our dependency on technology for day-to-day activities is on an ever-rising scale.

Follow us on

Install our App

The Benefits The governments have seen Cryptocurrency as a way to get deep into the roots of the technological revolution.

Image Credit: Value for money photo created by freepik

With the extensive use of Cryptocurrency, the governments have imposed several rules and regulations which the Cryptocurrency companies are liable to follow.

The regulations are placed to control the legitimacy of the currency in countries’ businesses and consumers.

Follow us on

Install our App

It is perceived that these regulations will increase even in the upcoming years to track the usage of Cryptocurrency in daily activities.

One of the main benefits of using Cryptocurrency is the secured transaction as Crypto encryptions are very safe and secure.

Image Credit: Save money photo created by freepik

Blockchain has maintained a record of never being hacked and its sources show the level of security statistics it follows.

The only way through which hackers can hack through cryptography and decipher the encrypted codes are the vulnerable companies whose information is linked with crypto wallets which can easily be deciphered and hacked.

Follow us on

Install our App

But this apart, Cryptocurrency is a much-secured form of transaction and can be used for long run securely in the future.

Image Credit: Piggy bank photo created by freepik

Several issues have been solved using Cryptocurrency as a currency medium, at first of which comes the third world nations can make a profit off much better by investing in Bitcoin, Blockchain, rather than investing in stocks and shares.

These developing nations fall much behind the developed countries in monetary terms and thus, their share measures are in stark contrast.

Follow us on

Install our App

Cryptocurrency thus has helped these countries make a profit and maintain a balance with the affluent, rich countries.

What Can We Conclude Henceforth?

Though Cryptocurrency’s future is still in question, it is confirmed that the system shows limitless potential if used systemically.

Image Credit: Value for money photo created by freepik

Though it still seems like a not-so-trusted medium, there are certain transactions where Cryptocurrency is viable.

The main fear in people regarding Crypto transactions is its nation-less nature, as Cryptocurrency claims not to be controlled by the government, but this is changing as governments Follow us on

Install our App

worldwide have started imposing regulations over Cryptocurrency companies.

With passing years, Crypto will mature and become more and more stable. This will ensure the steadiness of Cryptocurrency and thus, make the transactions easy to transfer.

Image Credit: Golden coin photo created by freepik

It will also be able to become value storage which can thus, be then extensively used by all businesses, including the government, and gradually become a daily part of our lives.

Cryptocurrency is still in its early budding stage and this makes a lot of people skeptical about its source and usage. But one thing is for sure, Cryptocurrency is not going to fade away too soon.

Follow us on

Install our App

It has come to stay and it will stay, slowly getting incorporated into our daily activities.

It is only a matter of time to see this havoc change, especially in terms of security – now that secure modes like crypto wallet hardware are available widely.

Thus, the future of Cryptocurrency is bright as it is slowly on its path of recognition and usage by more and more people and industries.

Follow us on

Install our App