Is The Future Of Cryptocurrencies Bright?
One of the biggest questions about cryptocurrencies, which is the center of attention of investors, is undoubtedly “Is the future of cryptocurrencies bright?” is the question.
Introducing us to blockchain technology and altcoins, Bitcoin has come a long way since it came to the agenda, and started a digital transformation around the world thanks to its features. Considering the fact that it is the first crypto currency and the transaction volume in the market, it is obvious that Bitcoin is still the most popular crypto currency. However, as well as Bitcoin, cryptocurrencies with a bright future gradually began to prove themselves and Bitcoin came close to ‘rivalry’ level. Using it in bank transfers, being preferred as a payment infrastructure, using it as software in commercial life shows that it has recently expanded the scope of crypto coins. Cryptocurrencies, especially Bitcoin, which destroy the traditional financial patterns and bring a new breath to the system, have become an important actor in our daily life as well as being used for cross-border transfers with low transaction fees. When it comes to commercial transfers and home sales, we have come to prefer cryptocurrencies to buy coffee.
Investment vehicles
Leading organizations have started their cryptocurrency industry related services in the past 3 years. Thus, institutional investors, investment managers and hedge fund managers started to turn to cryptocurrencies. In addition, as a result of the country’s economies and the political tension they are in, crypto currencies have become the preferred element of both companies and governments with their stance against commercial embargoes, especially since they reach directly from the seller. In order to avoid geographic alliances or embargo arising from commercial interests, many countries are preparing to issue their own digital currencies, as well as preferring cryptocurrencies that are currently in circulation. In this context, the fact that bitcoin has proven itself in the market, is the pioneer of crypto currencies and can be used by international companies causes it to spread across geographies and to create a loyal buyer base. This causes the underlying blockchain technology and other altcoins to gain sympathy. When we examine the coming process, it is expected that the developing blockchain and bitcoin-led cryptocurrencies, which even penetrate our daily life, will become widespread and used in different areas.
Cryptocurrency Acceptance
In addition to being seen as an investment tool, cryptocurrencies are likely to play a more important role in our daily activities. Cryptocurrency concepts are becoming more and more familiar. Also, cryptocurrencies offer numerous advantages when used as a payment transfer mode. Merchants, retailers, and organizations have begun to acknowledge this reality. A recent study reveals that 36 per cent of small-to-medium businesses in the US accept Bitcoin as a payment method. This number is likely to increase in the coming years as cryptocurrencies become widespread. Major retailers such as Microsoft, Wikipedia, Burger King, Starbucks are a few names that have adopted Bitcoin in the past years.
What do we expect in the future?
Until this time, we see that cryptocurrencies created and powered by blockchain technology have a unique potential. Naturally, we will witness ongoing developments in the blockchain and crypto ecosystem and changes in so many industries with these projects. The current analysis, statistics and figures show that blockchain is the biggest innovation of this century. As a result of all these developments, instead of discussing the existence of the future of the cryptocurrency, the question ”How will the cryptocurrency affect our future ?” came to our agenda.
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