Cryptocurrency is enjoying real success at the moment even if the fall has been violent for a few weeks. It conquers both professional entrepreneurs and individuals. Bitcoin, the first virtual currency, was created by “Satoshi Nakamoto” on January 3, 2009, with the use of blockchain technology. Since that day, this type of currency is gradually integrating into the real world.
In 2010, Laszlo Hanyecz bought himself two pizzas with 10,000 bitcoins. Then, on February 9, 2011, Bitcoin obtained an equivalence to the American dollar. The virtual currency continues its integration process and we see more and more merchants accepting it as a means of payment. What is the future of cryptocurrency? We take stock for you in this article.
One billion users in sight: a bright future for crypto
According to the studies conducted, there is an explosion in the number of users of virtual currencies at present. Since the creation of this kind of currency, the number of people who are seduced continues to increase. During the year of its creation, bitcoin only convinced a few hundred users. But very quickly he gained popularity and acquired a wider audience.
According to the studies conducted recently, 295 million users were counted in the world on December 29, 2021. It was thus found that many people are more interested in monetary virtuality. But the enthusiasm for the use of these currencies will continue. If the growth curve increases further. Towards the end of 2022, the milestone of one billion users will certainly be crossed.
Multiplication of virtual currencies
If the number of users is on the rise, it is mainly because the number of virtual currencies is too. In 2013, Ethereum, the first competitor of BTC, was born. It is not the only one, it will be followed by many other virtual currencies. Their gradual appearance will result in more than 1,000 virtual currencies available on the market in May 2019.
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Currently, this figure is still multiplying, but bitcoin remains the original virtual currency. It should be noted that even if there are multiple cryptocurrencies, only about ten of them enjoy notoriety in the eyes of the public. Next to bitcoin (BTC) and Ethereum (ETH), Tether (USDT), BNB (BNB), USD Coin (USDC), XRP (XRP) or Cardano (ADA) are also very appreciated. Users have a wide choice to fill their electronic wallet.
Cryptocurrencies: the currencies of the future
It is unavoidable, that cryptocurrencies are in the global monetary landscape. Before long, all countries in the world will accept their use. Financial institutions are often criticized for the slowness of the procedure, but also for certain blockages. With virtual currency, companies can make transactions affordable, instantaneously, and without the limitation of borders.
We know that financial intermediaries sometimes charge exorbitant prices for their services. Cryptocurrency can perform the same mission with lower fees. In addition, with the blockchain principle, operations are secure. We can thus deduce that cryptocurrencies will be the currencies of the future.