Cryptocurrency has completely revolutionized the field of investment and transaction. It uses block chain technology to keep the transactions transparent and authentic. There are over 60 million Bitcoin wallets across the world, and each of the currencies costs more than a several thousand dollars. If you are willing to invest in Bitcoins, here is why you should.
Growth of Cryptocurrency
Even since the introduction of Bitcoins in 2011, the least that their value has ever been was then. Bitcoins cost only $2 when they were just introduced in the Cryptocurrency Market. It has only moved an upward slope ever since its inception. Never has Bitcoins ever lowered in value since 2011.
Moreover, the surge in value that the investors enjoyed over the years has been incredible. No one could have imagined the kind of leap the price of Bitcoins took in such a short span of time. The value is only supposed to increase with an increase in the number of investors in the Cryptocurrency Market. If you were looking for the perfect time to invest in Bitcoins to skyrocket your profits by investing the least, the time would be NOW!
Look up Bitcoin Mining for more information regarding Bitcoins and investment.
Market State of Developed Nations
The market situation varies with each country. People in countries where the overall affordability is higher are able to invest in Bitcoins. This is mostly possible in the developed nations like the U.S., and the U.K. However, they only look at Bitcoins as an investment which has a scope of greater returns.
The developed nations do not view Cryptocurrency as an alternative currency to their already established currency. These nations have extremely stable currencies that determine the market forces globally. It is due to these currencies that the nations are able to influence the market forces, and make inflation happen. These countries barely ever bear the brunt of inflation. The U.S. dollars have multiplied in value over the last decades. It can also be said for the European pounds. Adopting Cryptocurrency as a form of primary currency would loosen their stronghold on the world economy. Cryptocurrency does not depend on the market forces. They are decentralized, meaning that they do not depend upon external market forces, and cannot be influenced by any authority.
Only a public ledger is used to keep the investors informed of their own financial activities and that of their associated investors. It is an open forum where investors have a private and a public key. The private and public keys work very similar to the concept of a password and the email address. The private key is a unique code belonging to individuals, whereas the public key is accessible to many. It is the knowledge of the public key of other individuals that makes the transactions happen.
Market State of Developing Nations
As for developing nations, Bitcoins and other Cryptocurrencies have not reached them widely. However, there is a huge scope for them to thrive in these nations. The nations do not have a stable currency. The currencies in circulation are highly subjected to inflation, and have greatly diminished in value. Countries like these can choose Cryptocurrency as their primary currency. Hence, the problem of inflation can be totally avoided.
Moreover, if multiple currencies are at play in a certain country, it becomes a confusing task to get the currencies converted at the end of the business days. However, for this to be possible, the cost charged per Cryptocurrency has to be brought down. Since it depends on the investors’ and their investment activities, there can be a way to deal with it.
Once these problems are dealt with, the Cryptocurrency Market will open its gates to more investors across the world, and will have equal representation from the developing countries as well. The Cryptocurrency Market is thriving at the moment, but is largely dependent upon the 2% wealth holders in the world, who regulate the market forces.
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