February 3, 2023

Market and Financial News

Market and Financial News Aggregator

Buckle up: The crypto revolution has just begun

2 min read

The opening shots in the cryptocurrency revolution were fired in 2008 when a mysterious visionary attempted to establish the soundness of a blockchain-based digital currency in a whitepaper published under an assumed name.

The whitepaper led to Bitcoin, the world’s first cryptocurrency, which traded a year later at a price of about €0.0007 per coin. In 2010, a college student famously paid 10,000 Bitcoins for two large pizzas. Today, a single Bitcoin trades for more than €40,000.

Bitcoin is no longer the world’s only cryptocurrency. Thousands of digital currencies have been launched, all based on variations of the original blockchain-based distributed architecture.

Only a handful of the new coins are intended to serve as general-purpose currencies. Most have been created to provide specific benefits within defined niches. There are coins that work in fintech applications, coins that are made for gaming, and coins that help producers of music and films receive royalties for their work. Governments all over the world are working feverishly to define policy toward cryptocurrencies as millions of people adopt digital coins as an alternative to the rules, restrictions, and high costs of the financial transactions once handled by banks and investment houses. Today, crypto platforms like Europe’s Kriptomat support everyday people with easy-to-use advanced tools for establishing and building investment portfolios.

The world is digital

Cryptocurrencies have quickly become popular among professional investors and everyday people who lack access to an old-fashioned financial establishment that seems to be interested only in big institutional investors. For years, individual investors have lacked access to favorable transaction prices, advanced portfolio management tools, and the attention of finance professionals.

Cryptocurrency and blockchain technology are democratizing the world of finance. They are taking steps now to establish a digital future in which…

Business Matters

2022-06-01 19:10:02

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