I saw the vast and incredible depth of cryptocurrency as far back as 2012. Like many visionaries, I knew that the industry would eventually become global—and just as accepted as the internet.
About a decade ago, most people would have laughed at you if you said you invested and held a significant portfolio of cryptocurrency – a digital currency born out of complex computer programs and cryptography.
However, the story is not the same these days, as you may be tagged as one from the Stone Age if you have not heard about cryptocurrency or don’t take it seriously. Like it or not, cryptocurrency is redefining the digital store of value and transactions.
It is no longer some computer program meant for the tech-savvy nerds and some expert day traders. Many traditional businesses are integrating cryptocurrency into their business plans and offering it to their customers as a product.
Here are some reasons why I think you would be wise to consider adding cryptocurrency into your online business portfolio.
Cryptocurrency is an Emerging Technology
Cryptocurrency is based on blockchain technology, and if you could ask a pioneer such as the mysterious Satoshi Nakamoto, he will tell you that the technology’s surface is barely scratched. If you are knowledgeable enough about the tech world of the 1990s like me, you will agree that all the current billionaires whose wealth is traceable to computer and software technology of those days are still ruling their class.
The principle is yet to change in the new millennium; from Mark Zuckerberg of Facebook to Vitalik Buterin of Ethereum, the principle remains the same. So what is this principle? The early adopters always win.
The earlier you discover that this tech is here to stay, the better your chances of planning your investments around it. As blockchain technology continues to shape our societies, especially the global economy, there will be new opportunities for those who diligently stick around.
Cryptocurrency Continues to Gain Power and Sparkle
Consider this case in point: In October 2020, PayPal launched a new service that made it possible for their account holders to buy, sell or hold cryptocurrency. The most revolutionary part of this transition is that these account holders can now use the cryptocurrencies they hold on the PayPal platform to make purchases at over 26 million different merchants.
According to the payment platform, the only obstacle in the wide adoption of the leading cryptocurrencies in their “limited utility as an instrument of exchange due to volatility, cost and speed to transact”. However, these challenges are not overwhelming enough to beat the elimination of middlemen and deliberate transparency in all transactions.
One of the most appealing characteristics of blockchain technology and cryptocurrency is decentralization. It is a paradigm shift from central control of money, value, and inherent inflation by governments.
Whether various governments think a cryptocurrency such as Bitcoin was borne out of rebellion is not the issue, the big topic is the ability of the global citizenry to determine the value of money and own a share of that power and control. If gaining total power over your asset is your thing, then you are welcome to the world of cryptocurrency.