Many feel the cryptocurrency market is just a bubble and is gonna only stay for a while before disappearing some feel that is only a matter of time before it's no more whilst others just frown at it and question it's longevity probably due to the fact that compared to other asset class its relatively the youngest making mostly the traditional investors feel that it can stay for long.
Well contrary to their opinion I really believe cryptocurrency is here to stay and the basis for my belief is well founded not on hearsay but on facts about cryptocurrency, cryptocurrency possess incredible quality that makes me believe that is here to stay.
Today I will be highlighting some of the key reasons why I believe that cryptocurrency is here to stay and not just stay but endure for all time and truly compete even with the oldest assets there is.
These reasons include;
Global Financial Access
Cryptocurrency provides global financial access to all, it's indeed one remarkable attribute of cryptocurrency that will make it last longer as people would always use it because it provides financial services to all even those who have been restricted by various banking system are able to benefit fully from financial services due to crypto availability, now something that creates an opportunity for all millions of people globally to enjoy financial services can't just be eliminated easily.
For cryptocurrency to fade away it would mean that they no longer require it use, but ofcourse it's unique ability to make all involved despite where you are in the world makes it truly something of a world class asset that would always remain in use.
With cryptocurrency full financial services is guaranteed, whatever you want, ranging from saving, or borrowing or lending or investing as well as any financial services offered by traditional financial system with much efficiency so for this I believe that is here to stay.
Security and Transparency
Another thing that makes cryptocurrency set to remain here for a long time is due to the fact that it provides a secured and transparent way of carrying transactions. The blockchain technology ensures that cryptocurrency is secured meaning that users have nothing to fear as this system is unhackable and runs on decentralized network which could not be said for traditional banks which is centralized making it easier to be targeted by hackers.
Cryptocurrency transactions are secured and transparent, transparent in the sense that all transactions are publicly recorded in the chain and one can verify it at will and also no transactions information could be changed and this helps to ensure that the system is one of integrity and thus is easier for one to trust in it.
Transparency, security, immutability and the fact that cryptocurrency is decentralized means that nothing could remove it or push it out of the spotlight so indeed cryptocurrency is here to stay largely due to this great attributes which traditional banking system seriously lacks.
Adoption by Businesses and Institutions
Also presently we are seeing institutions adopt cryptocurrency as never before in a manner never seen before with these institutions coming into cryptocurrency it also makes cryptocurrency to be attractive to the masses and even more companies would enter the cryptocurrency space too so that they won't be left out, am talking about mass institutional cryptocurrency adoption.
When this is truly accomplished it would indeed greatly help to improve global economy this I truly believe in the midst of what appears to be a fledgling economy experienced by many nations today cryptocurrency institution adoption could even help to make the masses who were once skeptical to freely invest in cryptocurrency, this could give cryptocurrency the full legitimacy it deserve on a global stage and that would ensure that really cryptocurrency isn't going anywhere.
For many expecting cryptocurrency to suddenly disappear the more institutions enter this space the more difficult and impossible it becomes so rapid institutional adoption of cryptocurrency makes me truly believe that cryptocurrency is here to stay.
Hedge Against Inflation
Fiat often experience inflation, bad economy and all and for this reason people are slowly losing trust in fiat currency, the standard currency representation of traditional financial system the banks and all the government issued funds, in many places today they are gradually losing their value no one trust it anymore infact it's as if keeping or leaving your money in banks is sure way for it to devalue.
And then cryptocurrency has become where people go to solution for this, those who are afraid of their money losing its value sees cryptocurrency as an alternative, a hedge against inflation in a manner of speaking, I mean how could one feel that cryptocurrency seen as a saviour from the economic crisis by many to suddenly disappear just because it's a relatively new asset class, ofcourse that's a no brainer and unsound reasoning.
It's even more likely for fiat to disappear than for cryptocurrency, cryptocurrency is here to stay and to dominate the financial world, this is I truly believe. Time will tell ofcourse.
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Conclusion
The idea of cryptocurrency being a temporary trend is one idea spread by people who would wish for cryptocurrency to fade away and look for anything to support their idea but ofcourse cryptocurrency nature itself and the fact it's used presently as a hedge against inflation which currently Bitcoin is used for shows truly the crypto is here to stay for a considerably long period of time, it's going no where, not now not ever.
15.042 SRY