INTRODUCTION:
The use of money is the concept as old as the need arose among humankind to exchange various commodities. The evolution of technologies, financial innovations and other fanciful evolutionary steps through which digital currencies are passing through, are taking mankind to the new heights of using and managing money. This evolution has taken the place of old traditionally accepted procedures of going through ATM or visiting a related bank branch. Now it is an online experience.
- PANDEMIC DRIVEN EVOLUTION:
World was moving towards adopting cryptocurrencies in its daily transaction and other monetary oriented tasks but with a slower pace comparatively. COVID-19 pandemic escalated this transition further. Now people carry their money in their phones and laptops. This pandemic have just initiated the early stages of technology related to finance which are challenging financial institutions currently managing it 2021 set the stage for transformation in finance while 2022 is shaping up the whole new look of it.
Crypto currency is digital currency which is transferred through blockchain technology this blockchain technology is termed as cryptography.
- What is BITCOIN?
Now it is bit quite understandable that crypto currency is making its mark in progressive world as emerging medium of exchange but the question remains is what Bitcoin is?
Bitcoin is the world’s first crypto currency which is decentralized in its operation. It is was launched in 2009. Public generally confused blockchain and bitcoin. Both are separate concept. Blockchain are in fact the blocks of encrypted data transactions which record and store bitcoin transactions. Hence bitcoin has its own network of blockchain upon which it operates. Bitcoin is the biggest among all cryptocurrency operating worldwide.
- POTENTIAL FINANCIAL REWARDS:
Currently 300 million people are using either one or the other cryptocurrency and critics view that this number is definitely going to rise. Those corporations which are relying on FOMO “the fear of missing out” as a marketing strategy assess the potential rewards which cryptocurrency has to offer. This strategy creates anxiety among society regarding the scarcity of product, limitation of time on offers etc.
Near future is surely going to see adoption of cryptocurrency as an important tool by investors so as to fence themselves against rising inflation which is an alternative to gold.
- VOLATILE INVESTMENT:
Everything has its pros and cons in its bucket and is not an entirely unique thing for such businesses. Same is with Bitcoin. It has seen its all-time high ups though, yet has suffered some downs as well. So investors might see it as a volatile investment but it does offer potential rewards.
- WIDESPREAD ADOPTION:
Most of the countries are now adopting cryptocurrencies and blockchains all over the world. A close analysis sums it up as representing 90% of global GDP. China is an emerging economy. Its policies surely affect everything in global scenario. Initially it banished any form of decentralized cryptocurrency but it was to assist its own ‘digital yuan’ while India is trying to find ways as how to tax cryptocurrencies and both are huge markets at international level.
- FUTURE PROSPECTS:
Research predicts that scams related to cryptocurrencies and thefts would actually decrease as criminals won’t be able to use the stolen money out of blockchain networks. This will reduce the risk for scams called ‘rug pulls ‘through which developers create crypto projects which appears legitimate but it can never be seen in real sense. Still the data provided through careful research by dissertation writing service might be gone through before adopting cryptocurrency, particularly bitcoin, while going through future prospects of investing in it.
- BITCOIN-LINKED ETF:
ProShares is an exchange-traded fund issuer and is the first to link bitcoin with ETF on an exchange. It made its debut in New York Stock Exchange recently. Critics have a view that as the fund is now linked to bitcoin so it does not hold the cryptocurrency directly but in fact it holds Bitcoin future contracts. So investors need to hold on and wait for the time being till an ETF actually holds Bitcoin directly.
- CRYPTO ETF FOR INVESTORS:
IT would be too early to judge things beforehand as what will be the reaction of investors but fund so far has seen rise in trading moves. Now more and more Americans can buy in so to influence the crypto market. This can be simply done by linking traditionally adopted investment account to your portfolio to add crypto to it.
- ADOPTATION BY MAJOR MAINSTREAM COMPANIES:
Many major companies are taking huge interests in cryptocurrency and bitcoin. Some are making investments in them. AMC announced regarding acceptance of Bitcoin payments. PayPal, Tesla, Walmart and Square are also considering on the acceptance of Bitcoin and future analysis showing a glare picture of acceptance of bitcoin as bigger corporations are pondering on to jumpstart to its adoption.
- BITCOIN AS LARGEST MARKET CAP:
Bitcoin is the largest cryptocurrency in sense of market cap as the trends it sets is followed by the rest of the market. The author of ‘Cryptocurrency Investing for Dummies’ opines that volatility is mere a short-term phase while growth of bitcoin is long-term.
- UNITED STATES REGULATIOS:
United states officials have shown interest in regulating cryptocurrency in more effective way possible law makers in Washington D.C are trying to get into minor details regarding regulations in such away so as to ensure safer environment for investors and tougher for cybercriminals under Biden administration.
- DOES IT REALLY MAKES SENSE?
Well this question is a must to cater whether it makes sense to the people to adopt cryptocurrency for paying for things as retailers are accepting payments so this will surely change the scenario in the future. World will no farther see a picture where people would be taking smart financial decisions on not only goods but also services as well.
CONCLUSION:
To cap it all it is indispensable to say that cryptocurrency is being adopted worldwide and the future of Bitcoin is becoming brighter with each evolutionary step which can be traced in Cryptocurrency Research Topics chosen by dissertation services worldwide.
