Cryptocurrency has failed. This statement is not necessarily true. There are still a lot of people using bitcoin and other types of cryptocurrencies. In addition to this, others are in the making. Day in, day out you’ll hear of an alternative bitcoin in the “kitchen”.
On the other hand, why are financial companies stopped accepting its use? The national bank earlier on was using bitcoin to perform its transactions. Sadly, now it has banned the use of it in any investment or financial matters.
Additionally, the market rate is what has made it lack its stability. One day it has to favour rates, the next it has disheartening ones. The up and down rates with no consistency make it feel more of gambling.
Still, on the issue of gambling, we know money invested in things like the stock market is a risky affair. The rule being the higher the current risk, the greater or riskier the future returns. Bitcoin and use of any cryptocurrency are not for the faint-hearted. You have to clear your mind and be ready to accept the possibility of losses.
Finally, losing while investing by using cryptocurrencies, is an experience that makes you more open-minded and bolder during a financial venture. You are able to learn, relearn and definitely unlearn about cryptocurrency use, pros and cons. Also, you are able to know how to use cryptocurrencies in a safe environment.
Moreover, digital currencies blend well in this digital world. Everywhere and everything nowadays has become more digitized as compared to earlier year. Things like shopping. There is a wide range of online shops to choose from. Also transactions. There are fewer people going to banks and queuing for them to get served by a bank teller. These and many other examples should prove to you that computers are taking over.
To conclude, cryptocurrency is here to stay even though its market rates is very uncertain. It has stayed for more than a decade and still some people are catching up with it.
