Will Crypto Mainstream soon??
Cryptocurrencies are not a new phenomenon. But over the past decade they have been inching their way deeper and deeper into the crypto mainstream. With more blockchain applications emerging and regulatory bodies, it seems like crypto may finally be approaching center stage. Whereas Bitcoin used reserved for shadier transactions on the “dark web,” it’s now accepted at many retailers. In recent years, we’ve even seen Bitcoin become accepted on major websites such as Expedia and Microsoft. September 2021 saw El Salvador become the first country in the world to accept Bitcoin as legal currency, although the country’s leader President Nayib Bukele has been the subject of negative headlines more recently, as the value of Bitcoin has dropped significantly since then. In addition to wider acceptance of Bitcoin, there are also new cryptocurrencies that are emerging on the scene that are proving to be just as lucrative and viable. Ethereum (ETH) is another well-known cryptocurrency token, and has its own blockchain-based network.. Dogecoin (DOGE) gained a lot of notoriety in 2021 as a “memecoin” with skyrocketing prices. Investors more confidence that these cryptocurrencies are sticking around, are willing to explore the market as a result.
Blockchain, NFT's?
Another emerging phenomenon that has contributed to wider acceptance of cryptocurrency and other blockchain applications is the NFT. We have discussed these digital puzzlers on the blog before, but it’s important to note that these are not cryptocurrencies, which are by their very definition fungible (interchangeable).Unlike Bitcoin, NFTs are unique digital tokens.NFTs are currently playing a primary role in the art world, where they establish ownership over digital creative assets. However, their applications are rapidly expanding to other industries.Soon we will likely see NFTs used more and more to prove ownership over event tickets, titles for digital and physical property, and other assets.So cryptocurrencies and blockchain applications are becoming more pervasive, which is prompting the public to become more curious and interested in the market. But this begs a “chicken-or-the-egg” sort of question: why are they becoming more pervasive in the first place? The emergence of more crypto-exchanges has contributed to increased public awareness of the market as well as improved accessibility of cryptocurrencies. This creates a snowball effect, where more and more people hop onto the “crypto” train simply because they’re aware that it’s passing through their proverbial town.
However, there are many factors that play into whether or not someone is comfortable with Bitcoin, NFTs, and other crypto-adjacent concepts. An investor’s willingness to trust in a new system is a huge factor, and this is largely a personality trait more than anything else.
Word-of-mouth introduces many retail investors to crypto-concepts, so their willingness to “buy in” to the concept will likely depend on whether they trust the person who exposes them to it.The decision is influenced by transaction platforms’ quality, perceived investment risk, currency performance expectations, and investor’s socioeconomic background.
s. These all play a role in an individual’s perception of Bitcoin and other forms of crypto.
Blockchain tech can decentralize oppressive institutions. Reddit discusses mainstream crypto strategies, basics, and investments. Ideology affects interest in crypto markets. El Salvador and the EIB experiment with crypto. Institutional adoption sets a precedent for widespread blockchain use. The European Council and US regulators plan to enact crypto regulations. Regulations can increase trust and acceptance of cryptocurrencies. Due diligence is crucial when investing.As with all investment opportunities, it’s important to do your due diligence rather than just believe what other people are saying about securities. Be sure to test your own investment biases and understand your risk tolerance before buying into any opportunity. If you have questions about crypto mainstream, NFTs, or other investment opportunities, reach out at info@nestfinancial.net. We are always eager to help Austin locals and newcomers make the most of their hard-earned money through our innovative investment process. Find us on:LinkedIn Facebook Yelp TwitterThis article shares information and opinions for educational purposes only and does not provide financial planning or investment advice. We are legally obligated to remind you of this disclaimer. For guidance about your unique goals, drop us a line at info@nestfinancial.net.