In 2009, Bitcoin was the first cryptocurrency to make a name for itself. At the time, many economic and trading specialists thought it was a fad. However, Bitcoin took hold, and in just a few years, it became a valid alternative currency.
The currencies of the future?
As always, not everyone agrees. Some experts believe that cryptocurrencies form a bubble that will inevitably explode, and others believe that cryptocurrencies have a very bright future.
Increasingly popular
Almost everyone knows Bitcoin already, mainly thanks to its explosion in mass popularity the past few years. However, Bitcoin is not the only cryptocurrency that is being talked about. A multitude of other cryptocurrencies has taken front and centre stage in recent times.
Digital transactions
Cryptocurrencies are of course designed and imagined to facilitate transactions on the Internet. The Blockchain considerably reduces transaction times. It goes from a few days for a regular bank transfer of cash to a few seconds or minutes with a cryptocurrency. The costs are also reduced and even disappear entirely with specific cryptocurrencies. There are no individual fees as with banks or money transfer services such as Paypal.
Valued investments?
The trend with the more established cryptocurrencies that they follow a progressive curve that increases from year to year. It is, therefore, difficult to deny that they are valued investments. Yes, the price is volatile, and there are sometimes significant drops, but when you look at the long term, the rise is attractive.
Multiple use cases
Cryptocurrencies provide the opportunity for investors to arbitrate, speculate, and invest in a growing list of cryptocurrencies that aim to use blockchain technology. Investors also have the opportunity to invest and contribute to projects they believe in. The cryptocurrency market is an innovative way for startups to raise capital at an early stage.
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