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Global economic parity has been a hot subject for discussion during many years. With the rise of industry and technology, the rich have become insanely wealthy, while the wealth divide has never been bigger. Can crypto end world poverty? In this article, we’ll explore some of the fascinating ways that blockchain technology is being used to transform the lives of many people, while providing an even playing field for economic parity.
Bitcoin and other cryptocurrencies are fundamentally about decentralized, global, financial independence and freedom, and the ability to have complete, full ownership of your assets. Bitcoin is a borderless, censorship-resistant digital currency and available to anyone across the globe with internet access. Consequently, crypto, at least in theory, lends itself well to being an asset class for international travelers or “digital nomads”.
As little as a decade ago, you might have been laughed at for bringing up Bitcoin as an asset class you had tremendous confidence in. You might have heard people asking “isn’t crypto a scam?”, dismissing it as something restricted for nefarious activity or cybercrime. In 2020, however, the picture is quite different. In fact, confidence in crypto has never been higher - and a lot of factors suggest it is set to keep rising. Moreover, with trust in traditional financial systems and fiat currencies at a low level, having confidence in crypto is no longer something merely for eccentrics.
The cryptocurrency space is as popular as ever, and there are many people out there who want to join the world of crypto. As many of you will know, the growth of the crypto market over the last decade has been staggering. The price of cryptocurrencies such as Bitcoin and Ethereum has increased by thousands of percent since their inception, but a lot of people still do not know how to get into crypto, or how to get their hands on crypto. This shows that the market still has great potential for growth. However, even though most people have heard about cryptocurrencies, they might not know precisely how to get crypto.
So, say you’ve just invested in your first crypto, more than likely Bitcoin, and now you're wondering what to do with it. There are many different options to explore, some of which we will discuss below. Perhaps you are reading this because you feel close to investing in your first crypto, but you are unsure what to do with Bitcoin afterward. Further on, we shall explain the value of holding Bitcoin, alongside ways and means to make your Bitcoin work for you.
As long as you haven’t been living under a rock, you will likely have heard of Bitcoin. You may know Bitcoin as the revolutionary digital currency, or you may have been led astray by the baseless rumours that Bitcoin “is only used for dark web online purchases” or illegal activities. However, this couldn’t be further from the truth. Bitcoin and other cryptocurrencies like it are rapidly becoming widely accepted both in institutional sectors and in the wider society. With growing interest, a lot of people are now asking ‘Where can you actually spend Bitcoin?’.
Are you confused about all the different types of currencies available in 2020? Ever since 2008, there has been an increase in the number of different currency terms and definitions to wrap your head around. As the world is going digital, it makes sense that our finances and financial services will migrate online too. However, there are some critical differences between the traditional currencies and the digital assets that are worth getting educated in, in order to preserve your wealth and prevent it from being controlled or lost.
In the years following its inception back in 2009, Bitcoin was regarded as somewhat of a - however undeserved - poster-boy for cybercrime and illegal activity. Over the past decade, if you asked anyone in the street what they thought about Bitcoin, the small minority that had even heard of it would likely have told you that it’s either a scam, a Ponzi scheme, or only used for illegal purposes. However, this erroneous view is quickly changing.
One of the main draws of cryptocurrencies such as Bitcoin is that they are decentralized. However, at what point does crypto’s interoperability with the traditional financial system make it all part of the same centralized entity as legacy financial systems? As you will likely know, Bitcoin can be traded like a stock or share, and crypto exchanges are acting increasingly as traditional banks, so is crypto becoming centralized? Some signs are arguably pointing towards that. However, as this is going on, the world of decentralized finance (DeFi) is flourishing. So, what is the state of crypto - is it in risk of becoming centralized, or is crypto truly decentralized?
