3 Reasons Why Cryptocurrency Will Continue to Grow
Financial experts, including the “Oracle of Omaha” Warren Buffett, have made multiple declarations over the past year stating that Bitcoin is officially dead or will soon die.
Here’s the thing though… Bitcoin grew at least 1500% in 2017 and has reached over $760 million in market cap. So, when is this supposed to die exactly? And how exactly is it supposed to die when so many people believe in this as a currency and are willing to keep investing money into it?
By now, cryptocurrency has become a global phenomenon and most people have heard of it but few people have actually invested in it.
#1: Crypto is Becoming More Mainstream
If you search on well known job search websites, you will start to notice that governments and corporations are starting to look at ways that their organizations can integrate the use of blockchain technology in order to increase efficiency, decrease costs, or cut out the middleman in transactions.
Expectations are very high for the crypto market and seem to just be going higher as more applications are identified for potential use in the global marketplace.
#2: Ease of Use
Smartphone apps like Coinbase have made buying crypto coins so easy and anyone with a valid ID and bank account can sign up for a free account. My own father (that is not tech savvy at all!) was able to figure it out via a phone call where I walked him through it. But, this is the same man that couldn’t figure out how to use email.
So, if my dad can buy crypto then anyone in the world can figure out how to do it.
My research has shown that Coinbase recently became the most downloaded app on iTunes, bumping YouTube out of the top spot. And the market is open all day and night so you can make purchases or sells no matter what your schedule is and do it from your smartphone. Almost everyone that I know owns a smartphone but not everyone owns a laptop or tablet.
Across the world, there are approximately 30 billion crypto coin wallets in use with most accounts having less than $1,000 invested in Bitcoin and many of these accounts have been opened within the last few months of 2017.
One major aspect to think about here is that the current market cap of less than $1 trillion is less than 1% of the total financial assets globally so there is still plenty of room to grow in the crypto space. And the entry point to the market is open to anyone that has a little bit of pocket change to invest, which is huge. Most other investment assets do not have such a low entry point for uneducated investors.
#3: Higher Returns Than Wall Street
I remember the Facebook IPO in 2012 and how my friends were all bummed that they didn’t meet the minimum income threshold in order to purchase the IPO. Thanks to the SEC regulations, Facebook was not an investment that my middle class friends could invest in no matter how much they wanted to because it would be illegal for them to do so.
Early investors of Facebook saw about 600,000% gains on their money before the public was given access to invest in this stock and since becoming public investors have seen approximately 335% gains. Sounds pretty good but cryptocurrency has been better as far as returns go if you know what to buy and when.
Personally, I think we are leaving Phase One of the cryptocurrency world and entering the next Phase where institutional money aids in market growth (we haven’t seen much yet but soon will see more). And barriers to entry are essentially non-existent at the present moment. And mainstream media has brought so much new attention to crypto.
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