If you have been dealing with cryptocurrency for a long time, you’ve likely heard about Bitcoin. It was created by Satoshi Nakamoto, whose true identity has never been confirmed. Bitcoin was the first decentralised digital currency ever made, and it has held that title ever since then.
It was the creation of Bitcoin that sparked an entire industry. At present, there are over 1,500 cryptocurrencies on the market with a combined value of nearly USD 400 billion. The digital currency’s popularity increases exponentially by the month and shows no sign of slowing down anytime soon. If you are keen on buying cryptocurrency like bitcoin, you can consider looking up ‘Swyftx Bitcoin’ once you’re ready to enter the trade.
Following are some reasons why you should consider buying bitcoin in 2022.
Virtual Mining is Becoming More Secure
The last few years have seen the rise of malicious activities within the digital currency space. The main reason for these attacks was that there were no real security measures to prevent them from occurring.
However, things are changing, and you can see crypto exchanges putting serious security measures in place to ensure that cryptographic mining is as safe as possible. Other security measures, such as the new Lightning Network, are being worked on and implemented. It will ensure that cryptocurrency will be even safer than it already is.
More Countries Will Adopt Cryptocurrency
Countries such as China have entirely banned the use of cryptocurrency within their borders. It is due to the lack of regulation or security that these virtual currencies possess.
However, this opinion is slowly changing, and it’s being seen that more and more countries are giving cryptocurrencies a chance and regulating them correctly to protect consumers. At the moment, Venezuela and Australia are two such countries that have put cryptocurrency regulations in place. Popular exchange platforms like Swyft adhere to these regulations. You can search for ‘Swyftx Bitcoin’ to explore more about their features.
Increased Regulation Will Create More Trust
Increased regulation in the crypto space will lead to increased trust between consumers and blockchain transactions. Currently, cryptocurrencies operate completely unregulated by banks or any other governing body in most countries worldwide.
It has resulted in a lack of trust between the consumers and cryptocurrency. Governments are working to ensure that cryptocurrencies are run on a transparent system by introducing compliance measures, resulting in greater consumer protection.
Blockchain Will Revolutionise Businesses
Many companies are currently testing blockchain technology to see where they can implement it to benefit or revolutionise how they operate.
Blockchain is mainly associated with financial sectors, but that will change in 2022. Many different companies are gradually introducing blockchain into their systems to provide increased security and save money.
More People Will Enter The ICO Market
Initial Coin Offerings (ICOs) is one of the most popular ways companies raise capital to grow their businesses. By allowing people to invest in an ICO by buying tokens, the company is given the money it requires to run its business. Investors are given tokens that can be used across this company’s platforms or traded for other currencies later.
At the moment, few regulations surround ICOs, which means that many companies are taking advantage of the system to raise huge sums of money without providing any real value or reassurances to investors. In 2022, you will see several ICOs regulated by their respective governments, similar to how normal securities are invested today. It will protect the interest of both businesses and investors.
Low Cryptocurrency Prices Will Attract More Investors
If you’ve been following the cryptocurrency market, then you will know that it is unstable at the best of times, with prices constantly going up and down over a short period. Although this is good news for people looking to make a quick buck by purchasing cryptocurrencies when prices are low and then cashing out once the price increases, it puts off more casual investors who would prefer a more stable market.
In 2022 things will have settled down in the cryptocurrency world, and you will see more people becoming interested in cryptocurrencies as they become easier to purchase over time. You can search for graphs for past prices to help you decide when to buy on popular cryptocurrency exchanges.
Traditional Financial Providers Will Start Offering Crypto Products
Traditional banks are the most prominent opponents to cryptocurrencies because they see them as competition. However, in 2022 you can expect to see many conventional financial providers looking at ways to work together with cryptocurrencies rather than against them.
Currently, there are only a few banks around the world that allow people to move cryptocurrencies to their accounts within the bank. However, in 2022 you can expect this process to become easier, and banks will provide more cryptocurrency-related products for their customers.
The world is now at a stage where cryptocurrencies are well known, but there is still much that needs to be done if they are going to reach their full potential. Some of the things that have held cryptocurrencies back are being put into place in 2022, resulting in them becoming more widely used and increasing the value of the market itself.
Soon, you can expect to see more businesses accepting crypto as a form of payment for their goods and services, which will drive up prices further.