Cryptocurrencies are the most happening thing on the internet these days. But only time will tell
whether crypto is just a passing trend or something that will change our world forever. But if we
consider the general trends across the globe, it seems that crypto will be a big deal in the future.
Some people even believe that crypto will replace our old currency forever.
While the glorious day when we’ll be able to pay for our dinner with crypto is still far away, we
can’t deny that crypto is making huge waves globally. Governments are rushing to create laws
to govern the currency, afraid of economic chaos. And multinational companies are investing
huge amounts into crypto stocks, raising prices even higher.
Cryptocurrency exchanges are ramping up security protocols to foil hackers’ intent on
benefitting from the crypto boom. In addition, countries and companies alike are creating their
own digital currencies, eager not to be left out of the cryptocurrency craze.
Let’s take a look at these trends in greater detail and see if the future of crypto is really as bright
as it seems.
The Rising Wall of Regulations
More and more countries are taking notice of cryptocurrency and its danger to the financial
system that governments have supported for decades. Recently, China banned crypto mining in
the country, dealing a heavy blow to the cryptocurrency market. China has always had a hostile
view of cryptocurrency, claiming that it undermines financial stability.
In the US, many government agencies are concerned about crypto and its effects on their
economy. For example, the Securities and Exchange Commission met recently to make
decisions regarding cryptocurrency, but they haven’t made an announcement yet.
The Internal Revenue Service is also taking an interest in crypto as US citizens may use digital
currency to avoid paying the taxes they owe to their government. Some citizens have been
brought up on charges of tax avoidance as they have invested undeclared assets in crypto.
Many of these criminals did not intend to break the law; they were simply unaware of the recent
Crypto is a completely new phenomenon, and it’s taking governments time to formulate
coherent strategies on how to deal with it. However, some countries like South Korea have
welcomed crypto, encouraging citizens to invest in digital currencies. Statistics indicate that
more than forty percent of South Koreans have invested in the crypto market.
ETF approval is another issue that has come up recently in the debate on cryptocurrency. If
ETF is approved, then digital currency could be traded through conventional brokerages. Time
will tell if the SEC approved ETF or not. At the moment, if you want to invest in crypto, then you
need to sign up with an online digital platform like Cryptopia.
The process is relatively straightforward, but if you have any issues, you can call the Cryptopia
support number or the helpline of whichever online platform you choose. Still, people who
already have portfolios on the conventional stock market would prefer to manage their crypto
assets through the same brokerage. So if ETF is approved, it could lead to a significant increase
in crypto’s popularity.
Elon Musk has publicly spoken in favor of crypto, and his famous company – Tesla – has
invested heavily in crypto stock. But Tesla hasn’t been consistent in its investment; it has pulled
out and re-entered the crypto market on several occasions. So it seems that the company has
yet to make up its mind on crypto.
Still, Tesla’s interest has been a great source of support for cryptocurrencies this past year, and
their stock prices have risen correspondingly. Moreover, Tesla isn’t the only company that has
begun to invest in crypto. AMC, The well-known entertainment company, has recently invested
a significant amount into crypto stocks, further bolstering investors’ confidence in the currency.
The fact that very few retailers accept crypto in exchange for services has been a great setback
for the currency. Holders of crypto usually have to convert their digital currency into
conventional currency before buying goods with it. Cryptopia’s customers have often
complained about the delay involved in making these exchanges on the Cryptopia support
number, and the users of other digital exchange platforms have similar complaints.
But if Amazon, the world’s largest retailer, were to accept payment in crypto, all those problems
would disappear. Although Amazon hasn’t officially made any overtures towards crypto, the
gossip is that they are looking into the pros and cons of adopting crypto as a currency.
Walmart, another large American retailer, recently hired a cryptocurrency expert. And investors
have taken this as an indication that Walmart may also be taking steps towards accepting crypto
The combined support of these huge companies has been one reason for the rise in crypto
stock prices. If the present trend continues, then crypto could soon be replacing conventional
currency. Customers could pay for goods and services in Bitcoin instead of Dollars.
Investment Trends and New Developments
The biggest problem with investing in crypto is the volatile nature of the stock price. The stock
prices fluctuate too rapidly and too widely to be considered as reliance investments. For
instance, between April 2020 and May 2020, Bitcoin’s price dropped from 60,000 USD to
30,000 USD. Bitcoin’s stock prices can rise and fall violently.
As a result, most investment advisors discourage their clients from investing in crypto. Some
sources say that you shouldn’t invest more than five percent of your assets in crypto just to be
safe. However, online platforms like Cryptopia offer users advice tailored to their investment
needs. All you need to do is call the Cryptopia support number, and you’ll get reasonable advice
on crypto investment.
On the technology front, software engineers are making crypto even more secure. As the
potential for profit increases, more hackers are drawn to crypto. To combat this, online digital
platforms are devising new ways to make their clients’ assets safer. One recent innovation is the
wasabi-style wallet which uses strong encryption to make it invulnerable to hacking.
Every day we’re seeing new digital currencies being born. Some countries like Canada and
China are looking to create their own national digital currency. Similarly, companies are also
creating their own unique cryptocurrencies. Facebook is one company that has recently
launched its own currency, although it has yet to become as popular as other cryptos.