It seems a lot of the world is against cryptocurrencies and what they stand for. In a way, this can be true as governments and financial institutions have no control over them,so they are in the same position as everyone else.
Governments will try their hardest to be a part of any cryptocurrency future as they stand to make such a considerable amount of money from taxes.
This will never be something cryptocurrency investments can get away from, and if they make the right approach, it can help to eliminate some of the more suspect cryptocurrencies along the way.
The Bitcoin Bubble?
It might appear with the drop in BTC’s value the bubble has burst,and all cryptocurrencies are doomed.
What many people don’t understand is a lot of the value has been inflated by investors jumping on the crypto craze. There could be a bubble,and for many people who have invested at the wrong time, this will appear to be the case.
For anyone who has done all their groundwork, they will have invested a little more wisely and are able to weather the storm.
A Cryptocurrency Future
There is no doubt cryptocurrencies will be a part of the future, and it will change the way we deal with cash and payment systems.
Through user demand for lower charges and user-friendly systems to be put in place, cryptocurrencies will have a significant impact on the way users make any form of financial transactions.
Which Cryptocurrencies Will Survive
As there are so many cryptocurrencies around at the moment, it can seem daunting which one any individual should invest in.
However on past form for over 5 years Bitcoin can still be the best cryptocurrency to invest in as long as any investment is made at the right time.
A majority of altcoins are purchased or can be bought using BTC,so it still has lots of purpose and value. BTC is also built on a stable and secure foundation which provides unrivaled levels of security.
One other thing that the FOMO investors have yet to realize is the number of significant corporations which have yet not taken up using BTC or another altcoin.
When uptake begins, there will be tremendous amounts of money poured into the use of BTC and its value will again rise.
No corporation will take on using a cryptocurrency which has not proven itself, and which is not secure. BTC has problems which a high number of people are aware of. None of these though, undermine the security of the technology.
With the 1,000 plus cryptocurrencies on the market, it is inevitable many will fall by the wayside. A number are unfortunately created as a means of making a quick buck at the expense of inexperienced crypto investors.
ICO offerings can be an overnight thing where they appear to be a good investment choice,and then they just vanish.
There are then the companies behind some crypto’s that do have good intentions. However, their company standing is insufficient,and they garner little interest which can help them survive.
Any crypto which can remain a viable option for the long-term needs a solid background, a robust and active community who shows continual interest in its adoption. Above all, a good crypto has to have apurpose.
Any crypto that only offers money transaction services has plenty of competition from a lot of other coins which are offering the same, or the many providers the world already has.
A Decentralized Future
Many coins have taken decentralization to heart with their offerings. Decentralized storage to spare computing power usage areoptions companies have looked into.
There are many good ideas, although the needs of many end users might not meet what these coins offer.
BTC has its roots deep in business and has been tested. Altcoins have to offer something entirely different while having all of the foundations which BTC possesses.
Decentralization can be a starting point for any investor or any company to know if they havelongevity.
First generation and second generation coins will, unfortunately, have missed this, and it will be the third generation cryptocurrencies which reap the rewards in the long-term.
A prime example of a third generation cryptocurrency is Skycoin. An ambitious project which aims to re-invent the internet.
If they are successful, they have much to offer end users. The benefits of their network can reach further out than the internet’s current infrastructure in developing countries.
These geographic locations; are crying out for services which corporations and banking institutions at present choose not to focus their efforts. The world will not end, so any coin that can be part of a new world has a bright future.