5 Reasons Why Cryptocurrency is the Future

According to CNBC's Fast Money, two of Wall Street's biggest names”Goldman Sachs and New York Stock Exchange parent company Intercontinental Exchange are both aggressively working on plans to introduce crypto platforms of their own. At Goldman, in fact, there are now more employees involved with exploring cryptocurrencies than working on mergers and acquisitions deals. In short: It's a sign that large financial institutions believe they can't afford not to be involved in cryptocurrency trading any longer. The herd has arrived. And that means only one thing: Cryptos are here to stay for good. You don't want to be left behind. Start trading now. A Few years back, there was a lot of buzz about how cryptocurrency could fundamentally change business. Businesses that were not created with cryptocurrency in mind are beginning to adopt it as an alternative payment method, especially those businesses that sell products internationally. For example, more and more companies accept Bitcoin for cross-border payments and microtransactions. A few big-name examples include WordPress, Shopify, Tesla Motors, and Stripe the online payment processing platform. Companies like Square and PayPal offer Bitcoin services for retailers who want to integrate bitcoin payments into their businesses without having to run a digital currency exchange in-house. 

Because cryptocurrency exists on a decentralized, distributed network (and not in one central hub or database), it can process transactions faster and at a lower cost than banks or other financial institutions. Many users say they save hundreds of dollars per year using cryptocurrency for payments instead of fiat currency. And because cryptocurrency isn't subject to government oversight and regulations, you don't have to worry about paying additional fees for transfers or high exchange rates like you would with traditional bank wires. In addition, if your wallet gets hacked or someone breaks into your house and steals your cash savings, they can't also steal your crypto-cash. It's completely safe from online theft because it doesn't live online at all. It exists only on computer hardware that you control personally. 

One of blockchain's biggest advantages is that every transaction made using a cryptocurrency “ Bitcoin, for example, can be verified as secure and legitimate. Every transaction record (or block) on a blockchain must match up with all previous blocks. This makes digital data stored in a blockchain highly secure against tampering and revision because there are millions of computers around the world continuously checking whether those records have been changed. They also do it very quickly: since everyone involved has access to their copy of these distributed ledgers, it takes an extraordinarily long time to falsify or change any single block. 

 It's an exciting concept, but many people aren't aware of how to make money with cryptocurrency. In order to truly understand how you can profit from digital currencies, you have to be able to think like a programmer, economist, and entrepreneur all at once. The fact that cryptocurrencies are decentralized allows users total control over their holdings and spending, which leads us to No bank account required: There are no banks involved in cryptocurrency trading. This means that if one website gets hacked or goes offline for some reason, your assets are still safe because they aren't stored in one place. 

The majority of people who have invested in Bitcoin have done so because they expect that it will continue to increase in value. This means that as more and more people start to adopt Bitcoin, there will be more demand for it, which should result in an increase in its value. Of course, if Bitcoin's value decreases at any point, then investors will likely start dumping their stock which could contribute to a sudden drop in its value. However, since no one knows exactly what's going to happen with cryptocurrency (other than a rise), we can't rule out that possibility either. While these uncertainties may seem scary for investors especially newcomers the fact that cryptocurrency has grown exponentially within such a short time span indicates that someone will see tremendous profits down the road.