Timing is everything when it comes to investing, and crypto is no exception to this rule. Considering the advancement of crypto over the last decade, is now the time to get started?
What is Cryptocurrency?
In short, cryptocurrency (“crypto” for short) is a digital currency that is transacted on the blockchain, or a system of blockchains. It’s decentralized because the users of the network govern its policies and verify all transactions from anywhere around the world.
Through a completely digital commerce system, blockchain allows people to change the way they look at financial autonomy. This is because blockchains are transparent and easily accessible by anyone with an Internet connection, making them more universally available and capable of innovations compared to traditional financial systems.
Crypto is for the people, by the people, without being controlled or operated by any single country or corporation, bringing a level of freedom to the financial space that was previously unavailable to the everyday investor.
Why is the Crypto Market Growing?
The crypto industry has come a long way since the founding of Bitcoin, with over 4,000 cryptocurrencies available on the market. They range across the board from DeFi (decentralized finance) to stablecoins, NFTs, and more. Even with this surge in expansion and media coverage, many think we are in the early stages of the industry’s growth.
Perhaps the biggest sign of crypto market growth is the way it’s affected the institutions surrounding it. Crypto adoption has increased, especially recently, because it is garnering high-impact use cases due to mainstream demand.
Investment firms, banking institutions, and businesses alike are trying to find ways to incorporate it into their portfolios and payment options. Governments, in particular, are beginning to give serious attention to the use of stablecoins as …