Cryptocurrencies have seen plenty of ups and downs in the last 10 years. But no one can deny the fact that they have grown immensely on almost every front.
Due to its volatile nature, many experts are still not sure about the future prospects of cryptocurrencies. There are optimistic people who think that crypto will finally go mainstream and replace traditional currencies, and on the other hand there are skeptics who see it as just a passing fad.
While it may be difficult to predict the exact shape that cryptocurrencies will take in the future, there are some happenings that are very likely to occur.
Regulation by more countries:
Many countries have already taken steps to regulate the crypto market, some have allowed it with guidelines while some have out-rightly banned trading or declared it illegal.
Although the lack of regulation helped cryptocurrencies to grow exponentially at the start, but now some experts believe that regulation is necessary to make it mainstream.
The right regulation should aim to curb scams, tax evasion, money laundering and other illegal things. And at the same time the regulation shouldn’t be so stringent that it contains the growth of cryptocurrencies.
More Stablecoins to be launched
Stablecoins are a new type of cryptocurrencies that are different from conventional cryptocurrencies like Bitcoin. The value of stablecoins is linked to real-world assets.
One of the reasons conventional cryptocurrencies get lower acceptance amongst traditional investors is that it is highly volatile, which makes them unsuitable for daily use. Since stablecoins are linked to real world assets, they are more stable. Many stablecoins have already been introduced in the market that are tied to the US Dollar.
Increase in the speed of transactions.
A major hurdle that cryptocurrencies face is the slow speed of processing transactions.
If cryptocurrencies aim to replace the conventional currencies, the time taken for a transaction should come down significantly. There have been notable improvements in this regard and it will continue to improve. Newer cryptocurrencies like Ethereum 2.0 are already doing upto 100,000 transactions per second.
Increase of Cryptocurrency usage in the Gaming Industry
Did you know that cryptocurrencies are already being used in the gaming industry? There are numerous video games nowadays that use virtual in-game currencies.
There are few game developers who have started to use cryptocurrency for more things. For instance, blockchain technology is getting used to correctly record in-game inventory.
Many large gaming companies have already set up teams to explore and use the crypto technology in more ways.
Why trade with CoinSwitch
If you are looking to trade in cryptocurrencies,for instance say ripple bitcoin conversion, eventually you will have to find the best exchange with smooth interface, foolproof security and minimal trading and withdrawal fees. CoinSwitch is probably the best cryptocurrency exchange amongst all.
Coinswitch is world’s largest cryptocurrency aggregator that guarantees the best exchange rate every single time. It supports over 300 coins and you can exchange between 45,000 trading pairs.
For anyone looking to buy bitcoin with credit card online, CoinSwitch is the best choice.
For users who are concerned about their privacy, CoinSwitch lets you swap crypto coins without having to create any login or account. It in turn ensures you maintain your anonymity and no one will be able to trace your transactions.
CoinSwitch is the No.1 choice of beginners since it is easy to navigate and it also offers support to more coins than any other trade exchange.
Lena is passionate writer who loves to share her experience.