Cryptocurrency is a concept that emerged only in the 21st century, with the first decentralized virtual currency, the Bitcoin, emerging in 2009. At the time, the value of Bitcoin was low and its application extremely limited. Few could have imagined the way in which this and other cryptocurrencies would skyrocked within the next decade.
In 2017, the value of Bitcoin was close to $1.000, but before the year was over it had gone up to over $11.000, signifying the breakthrough of virtual money on the world’s market. Ever since, words like Bitcoin, cryptocurrency and blockchain have been appearing in the mainstream media more often and everyone is wondering, is there money to be made in trading cryptocurrency.
Investing in Cryptocurrency
Cryptocurrency used to be a concept that few understood and for the most part it still is. The blockchain technology that stands behind it is fairly complex to understand and even many developers struggle to comprehend it altogether.
However, buying and selling cryptos has become extremely easy. Numerous platforms you can find at bitreviews.com allow you to buy and sell Bitcoin and other cryptocurrencies for real money, or trade currencies for one another.
The value of Bitcoin has been less lucrative than before for some time now and most don’t see the value in buying it in recent months. However, other cryptocurrencies that are just launching on the global market are worth investing in if you can make the right choices and predictions as to the potential growth of a particular coin.
What Does the Future Hold?
We now know how cryptocurrencies came about and how their value increased over time, but no one can really tell whether virtual money will become a mainstream thing in the future or not. However, many analysts predict that it will as all trends are pointing in that direction.
Cryptocurrency is easy to use, anonymous and hard to tamper with. Unlike FIAT currencies you can trade through Forex, crypto coins are better protected and their value, once established, should be more steady in the long run. Yet, we are far from such a day and many of the world’s governments are against the concept altogether.
On the other hand, several countries such as China and even the entire European Union have been playing with the idea of issuing a crypto currency of their own. If this was to happen, such currencies would have powerful foundations but some of the ideas behind crypto coins may be lost in the process.
The future of cryptocurrency remains unknown but with more developers dedicating their careers to the blockchain technology and so many crypto coins popping on the global market, it is hard to believe that the concept could ever really go away. In fact, it is more likely that crypto coins will replace FIAT currencies completely at one point or another.