We have big plans for TIO and the cryptocurrency industry as a whole (otherwise, why all the efforts?). Want to know our opinion on the future of digital coins — keep on reading as we’ve looked at the advantages and potential risks of supporting either pro or con theories.
The debate whether the cryptocurrencies will dominate and eventually replace physical cash has preoccupied the minds of not only some fintech gurus, but also of those who aren’t actively involved in any cryptocoin operations.
The undeniable fact that more tech-savvy folks around the world are engaging with Crypto in one way or the other must indicate a very positive trend. Besides, a number of universities have implemented the studies of cryptocurrencies into their curriculum and even accept payments in Bitcoin (check out some of these universities here), and this could be just the beginning.
On the same note, U.S. News have reported in the previous month that “The Port of San Francisco, like many international ports and transportation hubs, is considering using digital currencies in its payment structures because it sees them as the wave of the future. Thanks to Marcus Andrade, who met with the port’s leaders in early September, it may soon be able to.”
Christine Lagarde, the Managing Director of the International Monetary Fund (IMF): “Why might citizens hold virtual currencies rather than physical dollars, euros, or sterling? Because it may one day be easier and safer than obtaining paper bills, especially in remote regions. And because virtual currencies could actually become more stable. In many ways, virtual currencies might just give existing currencies and monetary policy a run for their money. The best response by central bankers is to continue running effective monetary policy, while being open to fresh ideas and new demands, as economies evolve.”
It has become apparent that the younger generations are facing a few substantial obstacles on their journey to financial stability, which may usually involve not one, but a combination of hurdles such as debt, student loan, unsteady job and outrageous housing costs. What makes matters worse is that there’s very little to no hope for future pensions; that is why there is the need to search for an alternative option to sustain late adulthood years. The growing mistrust in banking and mutual funds sectors has lead to an increased interest, certainty and ownership of digital assets. The idea of investing a few hundred dollars in an ICO today to then reap the fruit of an appreciated crypto coin may sound somewhat utopian, but at the same time is way too enticing to resist or ignore.
Regardless of the undeniable benefits cryptocurrencies present (decentralisation, immediate settlement, low fees, etc.), there are some limitations to be aware of.
1. Transactions are irreversible, meaning that if someone’s made a mistake or changed their mind after the transfer has been completed, it is not possible to charge-back.
2. When it comes to the acquired fortune (either physical or digital) there will always be individuals interested in draining other people’s wallets. Storing digital keys in a safe location, as well as following the common anti-theft preventative measures will provide a higher guarantee for the integrity of assets.
3. The increased popularity and usage of digital coins may attract the response from the government to assign regulations, taxes, penalties, etc which are not currently fully in place.
4. Cryptos and especially Bitcoin are highly volatile. They may slip from an enviable high to a pitiable low within 24h.
When someone mentions “cryptocurrency”, the first image that comes to mind is the one of Bitcoin. This isn’t surprising considering all the hype that has been associated with it. Bitcoin and Ethereum are in the limelight, but the rival digital tokens are on their heels and it won’t take long to see new aspiring cryptocurrencies take over. If you aren’t familiar with TIO, check out this article featured by Business Wire and Yahoo! Finance.
According to Ronnie Moas in his interview with CoinDesk, “At the beginning of July, Bitcoin was trading at $2,500. I believe in the next three years you will probably see $15,000 to $20,000 for Bitcoin. It could double twice from here in the next 36 months.”
If experts are so keen to believe in even bigger success of Bitcoin, the chances TIO by trade.io (supported by FXPRIMUS & Primus Capital Markets) hitting the list of TOP 5 cryptos are astronomical!
Final word: Backing-up and supporting the opinion of many experts in the industry, we believe that the tokenization of assets absorb certain businesses quicker than others, and regardless of the current state of cryptocurrencies, innovation and popularity will bring Crypto to mainstream.
