How long will Cryptos exist? Yes, this question is as old as it gets, and the answer remains unknown to most. But what we can agree on, is that Cryptos are here to stay
So, let’s take a quick look at the reasons why cryptos are here to stay in 2022 and beyond.
1: The Technology Is Useful
Blockchain technology has been around for a decade, but until now it’s struggled to gain acceptance. Critics have said that cryptocurrencies are too volatile and don’t offer enough practical benefits for businesses to implement in their day-to-day operations. However, blockchain technology is so efficient and secure that it offers huge advantages over existing systems and cryptocurrencies could prove ideal for business-to-business transactions, large settlements and international transfers of money.
There are already projects underway at banks around the world to use crypto technology to simplify banking. For example, some banks are trying out Ripple as a way of making international payments easier. With more real-world applications such as these on the horizon, crypto investment is likely here to stay!
You can also see crypto technology making waves in other areas where there are transaction fees and middlemen involved. For example, you can already use crypto to book hotels, buy flight tickets and even donate to charity. In fact, a study of charitable donations showed that charities which accept crypto get more donations than those that don’t! If we see widespread adoption across these kinds of industries in the coming years, then it could be seen as a sign that cryptocurrencies are here to stay.
In terms of real-world adoption, there are already over 1,500 online stores and physical outlets that accept crypto. This may not seem like much when you consider how many businesses in total there are in any given country, but it’s a significant increase from just a couple of years ago when there were barely a hundred. By 2022, analysts predict that more than half of all transactions will be powered by blockchain technology and cryptocurrencies could be part of that. Businesses such as IBM have plans to use crypto for billions of transactions every day to help make international payments easier. And if we see widespread use across industries like these, then it’s proof that cryptos really are here to stay!
2: The Hype Will Die Down
The cryptocurrency market is going to go through many ups and downs—that’s just what happens in any new, high-profile space. But one day, all of that buzz will die down and investors will start looking at cryptocurrencies as an asset class that they invest in alongside more traditional assets like stocks, bonds and gold. I think we’re on track for that day to arrive soon. According to Coinmarketcap, there are currently over 18,000 different cryptocurrencies available on exchanges today—and that number is growing every month. If you can get beyond all of the hype you’ll see that cryptocurrencies offer something significant:
A way to participate in our global economy without having to rely on big banks or other financial institutions.
At some point, many people will start to look at cryptocurrencies not just as a viable investment, but also as a way to participate in our global economy. I think that day is coming soon. And as we’ve already seen, some of these currencies have real-world use cases (i.e., Bitcoin, Ethereum). In other words, it’s no longer just a HODLer game: cryptocurrencies are becoming more accessible to everyone.
And when that happens, investors will begin looking at them as an asset class—not just a speculative asset. Once investors see cryptocurrencies for what they really are—an alternative form of money—they’ll be less likely to panic sell during market corrections or when they hear negative news stories about one currency or another. Instead, they’ll be able to take advantage of dips in price to buy more coins.
3: Their History Predicts Their Future
Because of their proven track record and their efficiency, cryptos are here to stay. Because cryptos have been around for a while now and because they don’t rely on any centralized institution to operate, it is quite easy to conclude that cryptocurrencies are here to stay. They have no central body that can decide on what to do with them. The crypto community makes decisions collectively by voting. And if there is ever a dispute regarding how they should be used, then members vote again until there is consensus among them as to how things should go forward.
The fact that cryptocurrencies have been around for a while and that they are still operating in most countries, also tells us that they will be here to stay. However, some governments can decide to ban them at any time if they believe it is needed. But so far, none of them has opted to do so. The reason is pretty simple; these cryptos offer a lot of benefits compared to regular currencies. You should not be worried that there is going to be an intervention anytime soon; even though you can never tell what government are capable of doing or not doing.
Furthermore, cryptocurrencies’ decentralized nature makes them extremely efficient. They are not linked to any central institution and so there is no one person that can decide what to do with them. The crypto community will have a hand in deciding how these cryptos should be used going forward; decisions that will be made collectively by voting. If you get involved in cryptocurrencies, you should be happy to know that their decentralized nature is a good thing; because they are less likely to fall victim to government intervention than regular currencies. And if such an event occurs, it will likely occur much later than with regular currencies.
The fact that cryptocurrencies are free from central authorities makes them much more efficient compared to regular currencies. The crypto community can vote on how they should be used and implemented. Also, since there is no central body, if you want something to be done with these cryptos then you must involve members of their community. This may seem like a tedious process but it ensures that everyone has a say as to how things should move forward; something that cannot be said about regular currencies in most countries around the world.
As you can see, based on their history, crypto’s are here to stay. They have already withstood a lot of trials and tribulations before getting to where they are today. You don’t need to be an expert to know that they won’t be going anywhere anytime soon because they have been tested by time and have emerged successful at each challenge thrown their way. If there is one thing that we can confidently say about cryptocurrencies is that they are here to stay for as long as people will continue using them.
Despite what you may hear in mainstream media, cryptocurrency is not just a passing fad or a bubble. It’s here to stay and with good reason: cryptocurrencies offer a number of benefits, and they’re cheaper to use than credit cards. If you haven’t looked into using cryptos as payment before, now is definitely a good time to learn more. We hope our top three reasons why cryptos are here to stay have gotten you interested in learning more about them.
The good news is that using cryptocurrencies to make payments is easy, whether you choose to use a cryptocurrency wallet or not. In fact, if you’re already a user of popular social media platforms like Facebook or Instagram, there’s an easy way to begin exploring them: simply search for #cryptocurrency and start following crypto-friendly influencers. Before long, you’ll be one of them!
We hope our top three reasons why cryptos are here to stay have gotten you interested in learning more about them.
If you want to learn more about cryptocurrencies, be sure to check out our other articles on them. You can also search for #cryptocurrency or #crypto on social media platforms like Facebook and Instagram to follow crypto-friendly influencers. Before long, you’ll be one of them!