Cryptocurrencies have had slow growth in popularity ever since they first appeared. However, thanks to many investors, cryptos have become one of the most reliable payment methods for people worldwide. Cryptocurrency must have evolved into a worldwide problem upending the established banking markets.
Not many people are willing to invest in new coins, especially if the popularity of the community backing it is not high at the moment. This happens to cryptocurrencies that are relatively new and their popularity is low, it can be hard for someone to invest since they don’t know whether the asset is going to be good in the future or not.
However, keep in mind that ekrona app is one of the first fully-approved government cryptocurrencies, meaning it’s not like other cryptocurrency projects.
eKrona App has an outlook of the key characteristics of a good virtual currency, its background in the Swedish community, a wide acceptance across Europe, and its career looks great.
In this post, we will take a look at the history of cryptos and our expectations of them in the near future. It has become essential to invest in digital assets in today’s world. Cryptocurrency is considered a valuable asset, and many reasons support this claim.
This article explains history of crypto, how cryptocurrency came and swept the world from its feet, and why it is important for individuals and organizations to invest in and own digital currency.
What is Cryptocurrency?
Cryptocurrency, as the name implies, is a mode of exchange that is embedded in shrewd anonymity, transparency, and security. Crypto represents a neo way of doing transactions without the transfer fees, waiting times, nosy governmental regulations, insecurity, and other issues that have plagued the normal ‘fiat’ legal tender.
Cryptocurrency uses the Blockchain technology to process its transactions. This effectively eliminated the third party e.g. the banks, financial institutions, etc. in a translation with a 2nd party. The Blockchain is a digital transparent and public ledger accessible for anyone to view. Blockchain simply provides the passageway for exchange of tokens (crypto) for products, goods, and services rendered in real life.
History of Cryptocurrency
Having first officially emerged in 2009, the core idea behind the creation of cryptocurrency originally was to create secure and anonymous peer-to-peer transfers between its holders. However, people have gone from this to making it a full blown investment to be held for more value. A brainy software engineer – Satoshi Nakamoto, the creator of the first ever open market cryptocurrency – Bitcoin, also created the Blockchain. The Blockchain is literally a form of digital ledger where transactions are recorded.
Apart from security and anonymity, another selling point for having cryptos was the elimination of wait times and fees experienced at the normal traditional banks. However, to do any sort of digital exchange, users must have computers with internet connectivity and a digital wallet.
Not long after the advent of Bitcoin by Satoshi, numerous cryptocurrencies emerged to rival the booming Bitcoin in value and coverage. Some of them are Litecoin and Swiftcoin. New software developers saw what had happened in the case of Satoshi and tried to replicate the feat.
The history of cryptocurrency takes a new turn, and people start to invest. The market value of Bitcoin rose to an excess of $45 billion in 2017, even without having people adopt the cryptocurrency as a means of exchange – the few holders were simply holding it as an investment.
Fast forward to 2018, the cryptocurrency market crashed by more than half its value. The level of uncertainty was sky-high. Newcomers did not know what to do, multitudes jumped ship. Some others ignored several ‘logical’ warnings to continue to hold crypto.
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Today, cryptocurrency has become a major venture amongst many communities of investors who have built their lives around it. Its value – like in gold, diamond, cash, and other things, is verifiable.
Why Should You Invest in Digital Assets?
Here, I will give you 7 solid reasons why any serious investor should invest in cryptocurrencies at this time:
- It is not difficult to start off. You just need to learn the basics.
- You get to enjoy transparency with your transactions
- You enjoy flexibility on your payment options
- You will be independent of nosy government policies
- The wide acceptance is becoming wider
- The future is being built around cryptocurrencies and other new technology
- It’s value – though volatile, if studied extremely well, grows dramatically over time
The Final Takeaway
Investing in cryptocurrency is a personal decision. However, it becomes a more important topic when you consider posterity and the nearest future.
Wouldn’t you rather hold on to a substance that is potentially worth hundreds more than what it is in just a few coming years?
Information contained on this article are just that – a piece of information. You should not use this to make financial decisions and we highly recommended you seek professional advice from an authorised expert.
Tags: history cryptocurrency invest, history of bitcoin, the history of cryptocurrency, how cryptocurrency works, history of cryptocurrency in nigeria