Since its creation a decade ago,has experienced a series of ups and downs. Sometimes, the appreciate to investors’ delight while it also occasionally depreciates too.
The price fluctuation has cast doubt on the durability ofin recent times. Some believe that it won’t pass the test of time.
Well, that opinion is flawed. This article discusses some reasons whyis here to stay. Consider some of them:
1. It is Immutable
Cryptocurrency is created on, an innovation that is known for its immutability. This implies that literally can’t die.
This technology will continue to exist for as long as the computers that are running its nodes are doing their jobs. Only the destruction of electricity and the Internet can kill the. This is unlikely to happen.
2. An Alternative to Fiat Money
Cryptocurrency also plays the role ofsuch as the British Pounds, the US dollars, Euro, and a host of others.
As a means ofoffers some benefits that are alien to . These are low fees, instant money transfer, absence of a third party, and several other benefits.
Payment withspares you the stress of making a manual payment that will take days. This is especially challenging when making international payments that may take weeks to confirm.
The several benefits ofmake it a perfect payment alternative to regular currencies. Both the sender and receiver can get their transactions over in a couple of minutes.
3. High Volatility
While some people consider’s volatility as a disadvantage, it’s actually one of its advantages. It is a plus for investors who are following the trend in the space.
Such investors can invest whenhit the bottom low. They stand a chance to make a reasonable ROI once the market picks.
4. Growing Investment in Cryptocurrency
Recently, Facebook launched its, Libra. Before this, several other enterprises that were previously not involved in are currently investing in their digital coin.
Notable examples include JP Morgan, Amazon, Walmart, Air Asia, and what have you. These enterprises are creating their because they are fully aware of its long lifespan.
5. Awesome Innovation Potentials
Are you aware of the potentials hidden in? Perhaps you are not. It’s good to note that are not used as a means of exchange only. Some of them are built on that allowed them to explore. A typical example is . It is the brain behind several innovations such as . This special technology has touched multiple areas of human endeavors. It covers health, insurance, education, politics, and an array of other applications. All thanks to and .
6. It Prevents Inflation
One of the several disadvantages ofis inflation. From Zimbabwe to Venezuela, the story remains the same. For decades, powerful bodies have failed to find a lasting solution to this problem. The UN, World Bank, and the UN have been unable to solve inflation challenges.
said:solve this issue. Coincodex gives an insight into how achieves that. It
The artificially set total supply of 21 million BTC is about to eliminate BTC’s inflation.
While the total number ofand other digital coins are known, that of remain unknown. This explains why it is easier to control inflation with than with the others.
7. It Eliminates Third-Party
Cryptocurrency also offers transaction freedom by eliminating third-party intervention. Without, business owners and their customers alike depend on third-parties. It was impossible to conduct international or intercontinental businesses without an intermediary.
Such an arrangement came with tons of challenges. The intermediary’s fee will hike up the cost of a transaction. This will also increase the purchasing cost of the product or service. As a result, the selling price will increase to accommodate the extra cost.
, however, eliminates reliance on third parties. Transactions can be done without passing through a medium. The result is cheaper products and items.
8. It Creates Employment Opportunities
Through, hundreds of thousands of people are fully engaged. The boom created the need for developers to create more coins. Several were created to attend to the needs of crypto enthusiasts.
This is aside from the several institutes that provide investment training in. These are some of the crypto-based employment opportunities people are taking full advantage of.
9. It Makes Online Shopping Safer
Fraud risk is one of the reasons many shoppers limit their online shopping engagements. As hackers target debit/credit cards, people became more conscious of their activities. This hurts both the consumers and e-commerce operators.
are safer. They are not prone to hacking and other illegal activities like their competitors. Once removes the fear of fraud, shoppers are more willing to make purchases. They are comfortable doing that in the knowledge that their transactions are safe.
10. It is Ideal for Crowdfunding
Through ICOs,has surpassed every other fundraising means. It is currently the most widely used means by startups for raising capital for projects.
Since its release,has helped startups to raise more than $18 million. A 2016 report shows that it reached some $1 billion market cap in that year. Thus, startups are looking for opportunities to raise the needed fun through . They are leveraging the ease at which they can use the platform to raise capital. Since it is safer than , they feel comfortable with .
Many people indeed have reasons to believewill soon become a part of history. Nevertheless, there are abundant pieces of evidence to show it has come to stay.
An increasing number of individuals and organizations acceptfor their daily transactions. Inventors are exploring other hidden potentials of this technology. They may come up with outstanding uses of in the future.
If this trend continues, it is safe to admit thathas come to stay. It is the currency of the future.