According to statistics, there are around 106 million people in the world that use cryptocurrencies. These digital assets have become quite popular recently for two main reasons. First, many of them offer you the chance to invest and make money and secondly, they are far superior to regular payment methods when it comes to online payments.
Some of the advantages that cryptocurrencies boast over regular payment methods include instant transactions thanks to the fact that they are fully optimized for online use, increased security as cryptocurrencies provide users with a certain level of online anonymity, high decentralization, meaning that they cannot be manipulated, etc.
As for allowing people to make a profit, volatile cryptocurrencies like Bitcoin and Ethereum are extremely profitable as they can reach pretty high value. Research shows that there are over 100,000 millionaires in the world that have made their fortune by trading crypto.
Thanks to the fact that cryptocurrencies are superior to regular payment methods, many companies and organizations are now open to accepting transactions with them. Some of the global brands that have integrated these digital assets into their payment systems are Wikipedia, Overstock, Starbucks, AT&T, Expedia, Twitch, and more.
The Future of Cryptocurrencies
Crypto’s recent surge in popularity tells us one thing – they will continue to rise and have the potential to become a universal global payment method in the not-so-distant future. After all, traders have two types of cryptocurrencies at their disposal – stablecoins and highly volatile cryptocurrencies. Stablecoins are used for payments as they have a fixed value, while highly volatile cryptocurrencies can be used for making a profit.
Analysts believe that by 2030, the crypto market will triple. As the current crypto leader, Bitcoin is expected to hit $500,000 in value and continue progressing forward. Countries will adopt these digital assets openly, just as El Salvador did recently – the country labelled Bitcoin a fully legal tender.