5 Reasons to Get Excited About Cryptocurrency in 2022
Cryptocurrency has been around since 2009, but it was under the radar until recently. Since breaking into the public consciousness in 2017, it’s become clear that cryptocurrencies are the future of finance and investing. No doubt you’ve heard about Bitcoin by now, but there are many other cryptocurrencies like Ripple and Ethereum with even more potential to change the way you make and keep the money. Here are five reasons to get excited about cryptocurrency in 2022.
1) Cryptocurrencies are here to stay
In less than two decades, digital currencies have spread from an idea postulated by a cryptographer and computer scientist named Nick Szabo all over, with dozens of cryptocurrencies reaching $1 billion or more in market capitalization. While skepticism remains, its usefulness can’t be ignored. Expect things to get even better by 2022 as progress continues. Meanwhile, cryptocurrency markets are poised for strong growth that could even dwarf what we’ve seen so far. Let’s take a look at five reasons why you should be excited about cryptocurrency in 2022.
Digital currency brings many benefits over traditional fiat money, but most importantly it facilitates fast transactions between parties around the world without needing to convert your money into different currencies first. This is especially important when it comes to cross-border payments like remittances, where fees remain high despite innovations like Ripple’s xRapid system designed to reduce them significantly.
2) Technology Is Improving
For those of us who have been around for a decade or more, it’s easy to feel jaded about technology. While cryptocurrency has seen many highs and lows since its advent in 2009, technology is moving forward at an exponential rate. While cryptocurrencies themselves may not be on everyone’s lips in 5 years, other forms of digital currency are likely to dominate global commerce by 2022. As cryptocurrencies become easier to use and trade, they will find their place alongside traditional currencies as viable payment options. In addition, we can expect new uses for blockchain technology—the underlying structure that makes digital currencies possible—to emerge in areas like supply chain management and data security. The possibilities are endless!
It is still early days for cryptocurrency, but there are plenty of reasons to be excited about what could happen between now and 2022. From improved ways to send money across borders to greater adoption by retailers and tech companies, there’s no doubt that crypto will play a bigger role in our lives over the next few years.
3) More Regulation
Overregulation is one of several reasons for cryptocurrency’s lack of adoption by businesses and mainstream consumers. However, regulators and tax agencies around the world are realizing that cryptocurrency can be beneficial, so they’re beginning to create rules that protect consumers and allow cryptocurrency to flourish alongside more traditional currency. This increase in regulation will make it easier for businesses worldwide to accept digital coins, and we should start seeing more big-name brands like Amazon accepting them as payment methods within a few years.
Increased regulation could also lead to lower volatility in crypto prices, making investing safer and more predictable. The combination of increased government oversight and consumer protection will help alleviate many of our concerns about security when using cryptocurrency as a method of payment or investment vehicle. While there’s still plenty of room for cryptocurrency to grow, an increasing number of people and companies are warming up to it—and their willingness to adopt it means even bigger things ahead.
In five years, cryptocurrencies will finally become stable enough for widespread use. Many investors have already made huge profits from early investments in cryptocurrencies, but these benefits haven’t been accessible to everyday consumers because cryptocurrencies aren’t widely accepted by businesses or banks yet.
4) Adoption by Big Businesses
Over time, as cryptocurrency becomes more accepted and easier to use by mainstream businesses and consumers, it will see even further adoption. As for what businesses are likely to adopt cryptocurrency first, it’s hard to say—it depends on how well cryptocurrency is adopted by consumers who already shop with such establishments. In fact, most of these major companies have yet to announce any plans regarding cryptocurrency acceptance. However, we can make some educated guesses based on their general business models.
For example, Amazon has a history of accepting alternative payment methods like PayPal and Starbucks has embraced mobile payments through its app. Therefore, Amazon and Starbucks seem like good candidates for accepting cryptocurrency payments down the road. Likewise, Microsoft is a company that has previously expressed interest in cryptocurrencies and blockchain technology; they may also be an early adopter of crypto payments. And Apple? Well, Apple hasn’t shown much interest in crypto currency thus far, but it could certainly still be an early adopter if Bitcoin or another popular altcoin takes off. The point is, don’t expect all of these companies to accept cryptocurrency at once—but do expect at least one or two big names to begin experimenting with cryptocurrency within three years.
5) Easier Processes
The field of cryptocurrency has been growing rapidly. Whether you’re new to crypto or have been dealing with it for years, it’s always important to know what else is coming down the line. By tracking progress on digital currency advancements, you can more easily stay on top of opportunities and potential problems. If you’re ready to get involved with cryptocurrencies but aren’t sure where to start, keep reading. Here are five reasons why we think now is a great time to get excited about cryptocurrency in 2022
Why Invest In Cryptocurrencies? There are plenty of reasons to get into investing in cryptocurrencies.
One big factor that you should consider when making your decision is that people all over the world who use bitcoin and other types of virtual currencies for their transactions will likely continue to do so as these currencies become easier to understand, buy, and sell, and trade. As more people around the globe start using cryptocurrency, it’s expected that its value will rise even higher than it already has.
This means that if you invest now, you could make a lot of money down the road. Additionally, cryptocurrency can be a great way to diversify your portfolio. If you want to protect yourself from possible economic downturns or from fluctuations in other investment markets, adding crypto coins to your portfolio can help balance things out a bit.