Dan Radak, Negosentro | From the renowned Bitcoin, all the way to currencies such as Zcash or Ethereum known almost exclusively among those who follow these digital trends closely, these value tokens have reshaped the world of finance as we know it. If anything, digital currencies have shown that despite their somewhat fickle nature, they manage to remain one of the dominant innovations of the modern world, and 2018 is expected to be another year of growth.
With almost 1,700 cryptocurrencies in existence at this very moment, their potential to grow is truly extraordinary considering the fact that only a few years back, Bitcoin was the one and only that ruled the game. Having all of that in mind, the volatile market does show certain tendencies for the upcoming year. Whether you’re looking to introduce them as a payment method for your business, or you simply want to invest, the following are the ones to keep your eye on in 2018.
A world more open to crypto
As the world of digital currencies grows, it’s no wonder that an increasing number of companies, institutions, and legal entities are considering to include them as a valid transaction unit for many instances. Even countries that have initially been closed for business are now ready to rethink their decision to the benefit of the Bitcoin and similar cryptocurrencies.
Several major names have already kickstarted the process of adapting their business models to finally implement these value tokens, and among them are even major players such as Wall Street, which means we can expect extraordinary shifts of power once the decision is made. Driven by advancements in the blockchain technology and more open-minded regulations of these cryptocurrencies, others such as Goldman are already preparing for enabling trading options for these currencies.
Embracing the learning curve
The buzz around Bitcoin and all the well-deserved hype focused around the idea of entirely digitalized transactions have been more than enough to bring more voices to the table. That, however, involves versed experts and not-so-knowledgeable individuals, which makes it even more essential to learn the difference between simple misinformation and actual research-backed data shared by professionals.
Ever since the market has become more open to your average investor and customer, it’s becoming much more important to stay in the loop with the help of trusted sources such as The Blockchain Review, meant to help you recognize the valid from the false information. After all, you will make your investment decisions based on those bits of information, so it pays to pick up the scoop from the insiders and the experts.
Platforms reign supreme
The sudden plunge Bitcoin experienced was just one among many signs that the unstable nature of the market will deter many a new buyer from taking the leap of faith. However, it was also a wake-up call for the shakers and movers of the market to make a few significant changes that will stabilize the market to an extent and allow newcomers to join the crypto ranks with their investments.
Simply put: the usage of platforms to perform cryptocurrency transactions has been designed to alleviate a certain amount of risk that comes with trading crypto. These platforms, the likes of Coinbase, will help the beginners master the steep learning curve and invest wisely, while the more proficient users will find them equally fast and convenient.
Make room for stablecoins
Another way in which the market shows its tendency for a more stable crypto economy is the buzz around stablecoins – a currency attached to a peg, meaning that it derives its value from another existing value such as the fiat currency.
The existing transparency and security that blockchain offers make crypto trading a very tempting way to invest, but 2018 will be a year of looking into ways to stabilize currencies in order to change the very nature of the market. An ambitious feat by all accounts, but still needed to make these currencies more appealing and more practical in the realm of the real-world transactions, and a valid option for business owners to include in their payment methods.
Novel uses of cryptocurrencies
Although blockchain has been predominantly used in the world of cryptocurrencies, the technology itself is very easily adaptable to any other industry. As such, it has become one of the most underutilized innovations that many businesses are now looking into in order to adapt and grow with its help.
One such example is NewEra, developed to inspire a cleaner, greener world, with the help of crypto and the blockchain. Their users can produce something called the Emission Reduction Units which are then translated into NewEra Tokens. A rewarding scheme on both ends, this is just one example of how this brilliant technology can be used to improve the ways of the modern world.
Dan Radak is a marketing professional with eleven years of experience. He is a coauthor on several websites and regular contributor to BizzMark Blog. Currently, he is working with a number of companies in the field of digital marketing, closely collaborating with a couple of e-commerce companies.