Will cryptocurrency be the future digital banks!!
Hello everyone!!
Cryptocurrency is digital currency and we all know about it. Cryptocurrency was a blockchain technology which was nothing few years ago but now even famous celebrities and invester are investing on crypto. Cryptocurrency investment has become a trend all over the world. Cryptocurrency has changed the digital transaction and investment. Cryptocurrency is all over the news too. Steem is also platform where we can earn steem, steem dollars, and tron.
Now, all the people rich and poor people are investing on it though some country has restriction over cryptocurrency. Many people have even become millionaire and some people poor to as they panic sell their cryptocurrency during crashed market. So, there is risk too but if you hold your cryptocurrency you can surely gain profit. There are various country that has implemented taxes on Bitcoin and many other cryptocurrency which has help in accepting cryptocurrency by people.
Cryptocurrency was not a trend investment till 2017 when the price of cryptocurrency suddenly got pumped up which was really sudden. Now almost everyone has invest on cryptocurrency. We also faced a bare market where the price of cryptocurrency suddenly crashed and was perfect time for investment and now we cannot imagine that it would be that high as now. If we take a example of bitcoin it was around 100 dollars in 2013 and it got pumped up to almost 19000 dollars in 2017 and again it crashed on 2018, now the bitcoin also went more than 63000 dollars. If we compare the price 2013 and 2017 there is rise of 190% and if we compare 2021 price with 2013 there is rise of 630%. It shows the potential of cryptocurrency. There are various cryptocurrency like Bitcoin which have increased more than it. And not to forget about dogecoin it has the highest rise till now about more than 7500%.
Likewise various companies started accepting cryptocurrency for their business like Tesla as we can buy a Tesla car through cryptocurrency. Now we can even find cryptocurrency ATM where we can take out money directly from wallet. Due to it people started investing their money in cryptocurrency instead of keeping it in the banks and the profit we get from is nothing compare to interest given by banks if we keep the money at the banks. So will cryptocurrency replace banks in future?, We cannot be sure now but the cryptocurrency have a great future ahead.
During this pandemic the people had gain more interest in cryptocurrency as it can be performed online and use various platform like steem to earn cryptocurrency. Now Bitcoin is ruling cryptocurrency and many others coins. If we talk about steem and steem dollar it was really low few months ago and suddenly it got pumped up. Just few days ago the price of cryptocurrency crashed and now it has rise again. So, the price will surely get pumped and crashed, and we can gain by trading. So there is no loss until you have enough knowledge.
In starting I also didn’t believe in cryptocurrency until I took some money out from it because jt is really hard to understand these kinds of things when we are young. I have also invested money in cryptocurrency and during bare market i panic sold my cryptocurrency but now everything is coming back and i have gain a lot of knowledge about i now. In staring I found really hard on trading and but now I know about it enough and still learning.
As cryptocurrency is still rising and more and more known personalities are investing on it. Peolpe are rather investing on cryptocurrency instead of keepinh their money in banks so surely people interest in saving money has fallen. So, due to cryptocurrency rising investment and people interest it may become digital bank in future.
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