What Does the Future of Crypto Look Like
Nathan Lee | Tue Dec 14 2021
This is a special addition to Quantify Crypto, Nate Lee is a cryptocurrency technical writer, he previously collaborated with fxdx.exchange in writing their white paper. To request a technical article collaboration, email: firstname.lastname@example.org
Government Regulation of Crypto
The world of crypto is still very young, however many countries already view crypto as a major threat to their economy. For example, China has taken major steps to ban crypto altogether. Threatening to arrest individuals who go against the regulation put in place against crypto. This is problematic for the crypto community, since crypto needs as many users as it can get.
Is Crypto the Future of Finance?
As the hype around crypto continues to grow, many people want to believe crypto is on the path to a complete takeover. However fiat currency will likely have the spotlight for years to come. The world of crypto is still transitioning from a niche community to a booming industry. As of right now, the world of crypto is still somewhere in the middle. The fact that crypto provides a new medium of exchange, could prove to be especially useful among international travelers.
Ultimately, the decision of whether to use crypto technology is totally subjective. However as more people begin to invest in crypto, it is likely we could see crypto become a common alternative to fiat currency. This is already the case within the tech industry, where many workers and employers are conducting crypto transactions. Not only that, but many professional athletes and actors are requesting to be paid in Bitcoin. As large companies such as Tesla, Facebook, and Visa adopt this technology, it is likely many cryptocurrencies could skyrocket in value. Currently the potential to profit from crypto is very high, as crypto becomes the norm, this profit potential could subside.
If you are on the fence about investing in crypto, it’s okay to take your time. The best investments are usually the ones that result from hours of research. There are thousands of cryptocurrencies being developed every month. Which means within the years to come, potential underdogs could begin to generate enormous value to early investors.
Although the word of crypto is certainly an exciting one, it is important to keep a few rules in mind. Although these rules may sound simple, they can help improve everyone’s crypto experience. Rule number one is… never invest money which you cannot afford to lose. This should go without saying, however many people get caught up in the crypto hype. This leads them to make risky investments with money they cannot afford to lose. Don’t be this person, it’s not worth the risk. Rule number two is slightly less self explanatory, that is, don’t create a wallet without documenting all of the information necessary to access it. Many people can remember the news headlines about a man who forgot the password to his wallet that held a large amount of Bitcoin. This resulted in the loss of millions of dollars, as well as losing a portion of Bitcoin that will never be recovered. The final crypto rule which everyone should be aware of, is don’t take investment advice from people who are NOT experts. In the world of crypto there are plenty of scams going around. If someone tells you to invest in a specific crypto, do your own research rather than trusting someone else’s.
One More Thing
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None of this is meant to be financial advice and I do not have any financial expertise.
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