One serious question about the Crypto market is: “Will Cryptocurrency last”.
I will help you answer that in this sweet post of today.
A lot of people are very excited about the cryptocurrency market. The future is bright for virtual currency, but will it last?
One of the many reasons why think Crypto will last and become the future of money is that fiat money causes inflation and Crypto transactions to have no intermediary institutions or government involvement. Which is a huge benefit.
Read along as we uncover more hidden reasons why Crypto will last.
There are many reasons to think that there will be a big shift in how we use money and store value in the next few years.
But then again, cryptocurrency could just be a fad. This blog post will explore both sides of this complicated debate and give you some insight into what might happen with cryptocurrencies in the future.
You know, Cryptocurrency has been a hot topic for the past few years and shows no signs of slowing down. With talk about Bitcoin prices going up, people are wondering if it will last or just be a fad. This blog post will help you answer that question using information from professionals in the cryptocurrency market.
What is the History of Cryptocurrency?
The first cryptocurrency was Bitcoin. It is a peer-to-peer system, which means that transactions take place between two parties directly and without an intermediary like a bank.
The transaction can be made anonymously as well because the identity of both parties involved in the transfer isn’t known with certainty.
In 2009, bitcoin’s pseudonymous creator Satoshi Nakamoto released its whitepaper titled “Bitcoin: A Peer to Peer Electronic Cash System.”
This marked the beginning of what we now know today as blockchain technology.
Since then, Bitcoin has experienced many ups and downs including one long slumping period from 2011 to 2013 where it lost more than 95% value against USD at times. But throughout all this volatility there have been periods when Bitcoin prices went up by more than tenfold.
In 2018, Bitcoin is trading at $4,000 with a market cap of over 62 billion USD.
As of when writing this (early 2021), Bitcoin sits at $60,000 per coin and with a market cap of 1 trillion USD.
The current state of the cryptocurrency markets is vastly different from that in 2009 and it’s impossible to predict what will happen next for this space but as history has shown before, anything can happen.
Will Cryptocurrency Last?
The short answer is YES!
The fact still remains that the Crypto market is volatile.
The volatility of cryptocurrency attracts many investors and some people are attracted by the prospect of making huge gains quickly, while others avoid it because they believe that cryptocurrencies are in a bubble waiting to burst.
There are many reasons why cryptocurrency will last.
The first reason is that it eliminates the need for middlemen.
In a bitcoin transaction, transactions go through without having to pass through any third-party or financial institution which could add extra fees onto the final cost of goods sold and making currencies less valuable.
Secondly, because no government can control how much money you have in your wallet with crypto (unless they outlaw it), this makes governments lose power over their citizens’ wealth and adds an additional layer of privacy and security when making transactions online.
Finally, if blockchain technology continues to develop as expected, we may see cryptocurrencies supplant fiat currency altogether by 2040.
We all can agree that the internet has created a world where people are connected with each other.
This era is similar to the railroad and electricity which were not in immediate demand when they were first being developed but went on to become crucial parts of today’s society.
Cryptocurrency solves many problems such as lack of trust between parties involved in transactions or contracts due to its decentralized nature and blockchain technology.
Finally, Bitcoin and the entire Crypto market will last is because it pays for services rendered by using their utility tokens (cryptocurrency), rather than paying only through fiat currency like US dollars.
Can Cryptocurrency last forever?
Well, this is a tricky question. And it’s this same kind of question that was raised when the internet first came into inception in the 90s.
Judging from the trends and popularity of cryptocurrency around the world, it’s likely that cryptocurrencies will continue to exist for a long time.
No matter how much governments try to shut them down or regulate them, there is always going to be someone who wants to keep using crypto in some way.
Thousands of organizations have already started accepting crypto in some way, and it seems like more is being added every day.
The popularity of cryptocurrencies will likely continue to grow as they become more mainstream with the general public and easier for people to use.
A lot of times when a new thing comes on the market or begins gaining momentum, there are those who question why this sudden interest has developed.
But over time, these things do tend to develop into something sustainable that can last for decades if not centuries. Examples of these are Electricity, the Internet, Facebook, YouTube, just to name a few!
People often forget that Bitcoin was created less than 15 years ago – less than one generation away from now.
Is Cryptocurrency a bad investment?
Crypto assets, like most investments, come with a host of risks but also vast potential rewards.
If you want to gain direct exposure to the demand for digital currency and the projects or businesses they facilitate then Crypto is worth considering as an investment because it offers versatility in terms of how accessible your money can be while still being able to invest internationally due to its decentralized nature.
I’m an investor and partly a trader in the Crypto market.
And I can say for sure that it is not a bad investment.
You can educate yourself better by reading top Crytpo blogs and following established Crypto-related YouTube channels.
Get acquainted with top exchanges like Binance and Coinbase to get familiar with how to buy, move and trade coins.
Which Cryptocurrency has best future?
Bitcoin (BTC) is the original cryptocurrency with a market cap of almost $1 trillion. As at when writing this.
The token has been around since 2009 and is accepted by some merchants worldwide. It’s not likely to be replaced anytime soon as it currently captures close to 40% of all crypto transactions made on the internet.
Other popular Crypto with great potential includes:
- Ethereum (ETH)
- Litecoin (LTC)
- Cardano (ADA)
- Ripple (XRP)
- Stellar Lumens (XLM)
- Tron (TRX)
Can you lose all your money in Cryptocurrency?
You can’t lose all your money in cryptocurrency because it’s a currency.
But you could lose the majority of what you have invested if Bitcoin crashes and never recovers.
It would be similar to having 90% of your net worth wiped out by a stock market crash or other financial catastrophes like 2008 when the U.S housing bubble burst sending markets into free fall.
The value of your Bitcoin investment can go up and down just as the value of stocks, bonds or other investments.
But Bitcoin is unlike anything else because it’s a cryptocurrency which means that you don’t have to rely on trust in any central authority for security like when you trade government-backed money such as dollars with someone who may not be trustworthy.
As you can see, the Cryptocurrency market is not an overnight bubble and will likely to last for some time.
I mean it is here to stay and would definitely last till the end of time. We’re just at the infant stage.
The only way that it would end is if there was an all-encompassing ban on the trade of Cryptocurrency, which at this point seems unlikely due to its rapid growth rate in popularity.
Hopefully you have found these thoughts helpful in understanding more about how cryptocurrency works and what it means for your future investments.
Remember: investing isn’t gambling, so don’t bet money you can’t afford to lose when trading or buying cryptocurrency – invest wisely 🙂