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7 Important Trends for the Cryptocurrency Business

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Over the past few years, the online payment environment has integrated a significant number of new features. Payments are now very simple - you just need to enter information in a simple form, click on the button and confirm the payment. Nevertheless, making any payment tie us to a bank account. Thus, the government monitors most of the money that we earn, store or spend. "Big people" came up with a huge number of different taxes and "rules" for us. Unfortunately, the existing financial system is often disadvantageous for consumers. Why? Because very often it takes more than it gives.


However, times change, and with them the world that is customary to us also changes. Recently, in the financial system, the rules are increasingly dictating crypto-currencies - anonymous financial systems that ensure the safe ownership and transfer of funds.

This year around the cryptocurrencies there is a real excitement. Already, many online shops, airlines, hotels and restaurants provide the possibility of paying Bitcoins. The trend is rapidly progressing and is not going to stop. Therefore, all entrepreneurs looking ahead should take a closer look at the current changes in the financial sector.
In this publication, we will consider seven trends in the crypto-currency space that entrepreneurs need to take into account.

ATTENTION TO THE NEW PLAYERS

Despite the fact that Bitcoin remains the main player in the crypto currency market, new coins are constantly on their heels - Ethereum, Litecoin, Ripple and many others. Now there are more than 1000 active crypto-currencies. It is very important not to lose sight of new market participants, because their price can fly at any moment, repeating the recent triumph of Bitcoin and the Ethereum.

THE GOVERNMENTS ARE GETTING INVOLVED

As the world is caught up in new financial laws, governments are increasingly thinking about imposing measures to control the Crypto-currency. In addition, it is not surprising, because the main task of the new system is to exclude the participation of the state and ensure anonymous and safe exchange transactions, exchange and payments. Moreover, if the governments of the states are not able to reach the owners of crypto-currencies, they are still trying to change and transform some crypto-currencies with all their might. Therefore, community members need to carefully monitor all actions by the government.

CRYPTOCURRENCIES ELIMINATE A LOT OF HASSLE

No more taxes, no more declarations, no more hassle. Cryptocurrencies have sophisticated systems that allow for efficient exchanges that never get compromised. Blockchain technology is evolving extremely quickly, and as it does, the cryptocurrency sphere will grow significantly also.

Most people, if asked, would opt for Bitcoin payments. Why? Simply because it’s more convenient than the alternative. The only problem is that not everyone’s familiar with this concept. Not everyone knows how blockchain technology works, and not every person has a cryptocurrency wallet, so we still need time in order for the full implementation of digital currencies to occur.

BITCOIN AND ETHEREUM WILL REMAIN POPULAR

Bitcoin can hardly go down. As a matter of fact, as of November 2017, Bitcoin’s price is averaging around 5000 euros, while Ethereum is around US$300. Both cryptocurrencies have already garnered a lot of supporters and traders who are extremely interested in these specific blockchain implementations. As the present numbers show, these coins are experiencing continuous, steady growth.

EXCHANGES WILL BE REPLACED BY WALLETS

Cryptocurrency exchanges are not as safe as they might look. Certain leaks and errors have already caused thousands of people to lose their money. However, digital wallets are becoming more and more popular. By using a wallet, you can minimize the risk of a security breach because that wallet is personal. An exchange? Not so much.

TRADITIONAL BANKS MUST CATCH UP

The world’s traditional banks cannot afford to fall behind. And instead of rejecting the trends discussed here (which would be useless), today’s big banks are investing their money into in-depth development and research which are all related to applications of cryptocurrency. Many banks are even partnering with various cryptocurrency organizations in order to better understand blockchain technology.

CRYPTOCURRENCY WILL CONSISTENTLY GROW

Hannah Janson, CEO and Co-Founder of Essay Geeks, suggests:

“Cryptocurrencies represent the future; as you can see, they’ve made their first appearance a few years ago. Now? One bitcoin is worth $5800. That’s extremely impressive. With this growth, we can expect Bitcoin to grow over 8k by the end of the year. New coins are showing up in the marketplace, and the trends will constantly shift!”

TAKEAWAYS

Cryptocurrencies are here to stay, and they’ll play a huge role in changing today’s economy. If you’re flexible enough to see it, money will take a different form in the next several years. Many entrepreneurs will become rich because they’ve invested in the right cryptocurrency at the right time. Be wise and do that too!

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