In our world today, cryptocurrencies are gradually taking the lead as an accepted means of digital payment. Hence in this article we will check out the reasons why crypto trading are now at the verge of winning over the world’s fiat currency.
Many cryptocurrencies are surging in price today, Bitcoin still remains the no.1 most popular cryptocurrency with a market cap of over a whooping 1 trillion dollars.
This new generation have discovered that the crypto space is a goldmine.
For instance, if $100 is invested into a good project, it could become over $1000 in 12 months, 2 years or more.
So, let us quickly know what cryptocurrencies are.
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What Are Cryptocurrencies?
Cryptocurrencies are digital currencies accepted as a means of digital payment for goods and services.
It was first introduced in 2009 when Bitcoin was invented.
I know you might be wondering to know how it works if you’re new to the crypto space.
Well, cryptocurrencies operate using blockchain technology.
So, what is blockchain technology?
It’s a decentralized system that spreads across all computers without the personal influence of any man.
One good benefit of blockchain technology is its advanced security system.
Therefore, let us check up a few list of major cryptocurrencies.
List Of A Few Major Popular Cryptocurrencies:
Here is a list of some 20 world cryptocurrencies. With Bitcoin taking the lead with a market cap of over 1 trillion dollars.
Please note that cryptocurrencies prices are never stable as the prices changes according to the market demand and supply of the coin.
Therefore, you can always checkout for the current price at coinmarketcap.com
In no special sequence, here is a list of famous cryptocurrencies you can find on top of the market.
- Bitcoin.
- Ethereum.
- Binance coin.
- Tether.
- Solana.
- Cardano.
- XRP.
- Polkadot.
- Dogecoin.
- Litecoin.
Why Is Crypto Trading Not Dying Out:
1. Crypto Trading Is Creating Jobs And Becoming A Means Of Self Employment For Many Unemployed Youths:
Since crypto trading is possible on any mobile phone, it now stands as a means of livelihood.
How?
People buy when the price is down and sell when it goes up to make profits.
Hence, it has become a means of livelihood and source of income to smart tech savvy youths.
Also Read: Should Traders Expect Another Huge Crypto Market Selloff In 2022.
2. Poverty Eradication Is Possible With Crypto Trading:
The invention of Bitcoin in 2009 played a huge role in eradicating poverty from many lives across the nations of the earth.
When Bitcoin was launched in 2009, many people had the opportunity to buy as many as they ever wanted.
It was almost worthless and less easy to get.
Reports have it that some fellows were using bitcoin to pay for meals in school restaurants and online games.
Today, Bitcoin is worth over $50,000 per coin.
The good thing is that some people were able to reserve such crypto for a long period of time.
The value of these crypto coins grew overtime to make many of these people multimillionaires in dollars.
3. Investors Believe It’s The Future Of Money:
People already see cryptocurrencies as the world’s future currencies.
The many disadvantages of fiat currencies are giving people the urge to keep their interest on crypto.
Many world investors now see it as the future of money.
A country in central America “El Salvador” has moved forward to approve it as a legal tender in their country.
Hence, people who initially had no interest in crypto are now buying as it still seems not to be too late.
4. It’s Has Limited Supplies (It Supplies Can Be Limited):
Crypto has its own supplies. Just like Bitcoin, there can’t be more than 21 million BTC in the world.
The supplies of cryptocurrencies are free from the controls of world banks and central banks.
Hence, crypto remove central banks from managing it supplies.
This gives it a full proof over central manipulations as seen in fiat currencies.
Also Read: Binance Coin – Major Reasons You Should Consider Buying BNB Now.
5. Crypto Operates An Incorruptible Market:
In politics, a president, a governor or electoral member can influence his people and his political party to get anything done.
Similarly, in other institutions, there are times when corruption takes over leaderships and governing bodies.
However, this is not possible in crypto.
Even if any group of people succeed in doing this, crypto will find its way in no time.
Therefore, no single body or individual can influence the market.
6. It’s Completely Decentralized:
Supporters of cryptocurrencies like the fact that it runs on a blockchain technology.
The blockchain technology is a decentralized processing and recording system, hence poses more security than traditional payment systems.
It’s not owned by any group of people who have the power to influence it to their favor.
Therefore, making it possible to conquer the problems associated with differences and ownerships.
7. A Private Store Of Wealth:
That crypto owners can afford to store large volumes of wealth without the notice of any banks in the world makes it completely private and personal.
It allows for both long term and short term storage.
Cryptocurrency trading has made many millionaire since the invention of Bitcoin in 2009.
It gives people the privilege to store both small and huge amount of money without government interferences.
Also, kindly note that when it comes to storing money in crypto, stable coins like USDT or BUSD are good options.
Therefore, doing this will prevent any form of losses that might result due to rug pulls or crypto dips.
Also Read: 12 Common Agents That Kills Your Money Savings Plan.
8. Crypto Trading Offers Little To Zero Charges:
Since there are no third parties needed to sign and stamp transactions as needed in traditional banking systems, crypto offers little to zero charge fees.
This way, traders can carry out transaction worth thousands and million of dollars with little charges.
It eliminates high bank charges available in transactions involving fiat currencies.
9. It’s Protected From Inflation:
The current rise in price of items have sent the value of paper money packing down.
Now, even $3 cannot buy you what you can get freely with $1 ten years ago.
There seems to be no return curve and the inflation is getting more serious year after year.
This makes crypto a top choice for edge against inflation.
Although, care must be taken when dealing on crypto because the market is not stable.
Also Read: 15 Better Money Habits That Leads To Success.
10. It Gives No Discrimination To Age:
There is no age limits to who can own a wallet as limited in traditional banks where people below 18 years need to have a guardian to own an account.
Crypto accepts all age groups so far they are ready to understand how cryptocurrency trading works.
Hence, any age range can download any crypto app, do the needful and start trading.
More Articles For You:
Should Traders Expect Another Huge Crypto Market Selloff In 2022.
14 Truths About Cryptocurrency And Blockchain Technology.
Difference Between Assets And Liabilities That Makes The Rich Richer.
Why Does The Rich Pay Lesser Taxes Than The Poor And Middle Class.
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