{"id":290531,"date":"2021-05-28T12:40:42","date_gmt":"2021-05-28T16:40:42","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=290531"},"modified":"2021-06-29T18:13:53","modified_gmt":"2021-06-29T22:13:53","slug":"cryptos-special-place-in-the-new-world","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/cryptos-special-place-in-the-new-world","title":{"rendered":"Crypto’s Special Place in The New World"},"content":{"rendered":"

CRYPTO\u2019S SPECIAL PLACE IN THE NEW WORLD
\n<\/strong>First things first, the new world is a digitised one.
\n<\/span>But, the question is \u2014 what is the place of cryptocurrencies in this new world?<\/span><\/p>\n

Everyone seems to be hopping on the crypto bandwagon as more and more people invest in cryptos, even when they know nothing about it. Whoever Satoshi Nakamoto might be, there is a strong likelihood that they (or him or her) weren\u2019t expecting the boom and global popularity that cryptocurrencies have now garnered.<\/span><\/p>\n

Already, cryptocurrencies have so much focus on them, no respectable financial media outlet ends the day without giving them a mention. Many people are investing \u2014 and many others will invest. In 2021, the amount of bitcoin projected to be in circulation is 18.68 million BTC. To put that in context, that is almost 715 trillion dollars. And, that\u2019s just for Bitcoin, which is just one cryptocurrency out of hundreds.<\/span><\/p>\n

So, what are some of the most significant things associated with crypto in the new world?<\/span><\/p>\n

CRYPTO AS A VALID MEDIUM OF EXCHANGE
\n<\/span>As most people learnt in basic High School Economics, good currencies have certain characteristics. One of the features of a good currency is that it should be generally accepted as something valuable enough to exchange for products and services.<\/span><\/p>\n

On that front, crypto has carved a space for itself. Across a wide range of businesses \u2014 including the <\/span>online casino<\/span><\/a> market, restaurants, tech companies \u2014 crypto is legal tender.<\/span><\/p>\n

Paypal, Xbox, Burger King Venezuela, KFC and Coca-Cola represent several global brands already accepting crypto as a way to pay for products bought and\/or services rendered.<\/span><\/p>\n

As a medium of exchange, transactions facilitated by cryptocurrencies are very secure \u2014 thanks to the largely impenetrable blockchain technology. This in turn creates an environment of trust for businesses and customers to thrive in. Crypto\u2019s place as holding enough value for exchange looks like it\u2019ll be around for a while.<\/span><\/p>\n

Paying for your hot morning coffee with some Dogecoin might just be a thing in the new world.<\/span><\/p>\n

CRYPTO MAKES MILLIONAIRES?
\n<\/span>Not everyone will become rich through investment in cryptocurrencies \u2014 but there sure have been more millionaires around the world since trading and investing in Bitcoin, Ethereum, Dogecoin and many others became mainstream.<\/span><\/p>\n

This <\/span>article by CBS News<\/span><\/a> reveals that over 100,000 people have at least $1 million in bitcoin. That fact is especially more relevant when you consider the fact that there were only 25,000 bitcoin millionaires at the end of last year.<\/span><\/p>\n

Sure, bitcoin may be unstable but it\u2019s important to remember how bitcoin started. In 2010, when it first experienced a value increase, bitcoin was valued at $0.08. In June 2011, Bitcoin jumped from one dollar to thirty-two dollars.\u00a0 As recent as the early days of 2020, 1 Bitcoin was valued at $7,200.<\/span><\/p>\n

Fast forward to 2021 \u2014 Bitcoin keeps fluctuating but never below $30,000. Do the simple maths and you can predict much a person who maintained Bitcoin investment in the early days will have.<\/span><\/p>\n

Bitcoin isn\u2019t the only cryptocurrency making people richer (at least on paper). NFTs, powered by Ethereum, and the more in-vogue Dogecoin have had that same effect too.<\/span><\/p>\n

In the new world, you might be a millionaire just because you placed your trust in the right crypto.<\/span><\/p>\n

Conclusion
\n<\/span>Many things can be said about cryptocurrencies. Older generation investors seem hell-bent on the narrative that cryptocurrencies are a risky investment because of their extreme volatility.<\/span><\/p>\n

But, what investment isn\u2019t risky?
\n<\/span>Cryptocurrencies, in the new world, offer a way for people to be in control of their wealth in a truly decentralised and secure environment \u2014 which is more than what many believe fiat currencies to be capable of.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

CRYPTO\u2019S SPECIAL PLACE IN THE NEW WORLD First things first, the new world is a digitised one. But, the question is \u2014 what is the […]<\/a><\/div>","protected":false},"author":1821,"featured_media":288279,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-290531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"\nCrypto's Special Place in The New World - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"This article explains how cryptocurrencies will help to create a better world. 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