Blog

The blog is about making business online, entrepreneurship and also life moments story. Do enjoy and share them on the comments below. 

What are the positive impacts of cryptocurrency?

What are the positive impacts of cryptocurrency?

Over the past decade, cryptocurrencies have gone from a white paper to hundreds of billions of dollars in market value. Over that same period of time, the number of cryptocurrency wallets continued to increase. While the total market value of cryptocurrencies is tiny by global standards, in ten years it has grown larger than more than the economies of 155 sovereign countries.

To add more perspective, if you had bought $1 worth of bitcoin in 2009, it would be worth more than $4 million today. If you didn’t buy bitcoin, that $1 would be worth $0.85 today


Here are a few summaries of how I'm defining the positive impact of cryptocurrency: 

1) No need for central regulations like banks or governments.


It gives power in the hand of common man they can do person to person transactions all around the world in seconds without paying hefty charges to banks.

2) Anonymity is one of the important advantages provided by cryptocurrency. You don't need to reveal your identity.

Not affected by government actions like DE monetization, inflation adjustment, etc. which control the value of fiat currencies.

3) It is in digital form so that it can be carried away anywhere without fear of theft, robbery. You only need to store it in your personal wallet or you have to remember the keys that are it.

Lower transaction fees, fast processing of payments.

4) Millions of trees can be saved by not using paper currencies. It can help in making our environment safe.


5) With cryptocurrency, you are in charge. No one can take your money away from you unless you lose it yourself. It still has a long way ahead before it can replace cash and credit cards. People are still not aware of what Cryptocurrency is, which makes it a less viable option for them to go for.


Governments are also considering two very significant changes. They are:


Issuing a government-backed cryptocurrency – If that happens, many citizens will have a cryptocurrency wallet on their phones.


And, cryptocurrency wallets can hold many different types of cryptocurrency in addition to the national cryptocurrency. 


Exempting transactions under a few hundred dollars from capital gains tax – If that happens, retailers, restaurants, convenience stores, and gas stations will begin to accept cryptocurrency

In the current world today, the question remains how is the adoption of Cryptocurrency after the CO-VID19 period has passed. 

Imagine if #cryptocurrency is used for the stimulus package, it would have gotten stimulus checks out to people within 2 hours on the day the bill was passed because of the underlying blockchain technology And in wider, what advantages would COVID-19 carrying dollars have again over a digital US Dollar?

0 Comments
Add Comment
Your cart is empty Continue
Shopping Cart
Subtotal:
Discount 
Discount 
View Details
- +
Sold Out
(adsbygoogle = window.adsbygoogle || []).push({});