Cryptocurrencies are evolving towards a new future

People who are part of the crypto world for a long period of time would know very well about cryptocurrency scams. Bitcoin was the first cryptocurrency and that is where it all started. Before 10 or 12 years when it all started Bitcoin was not very popular and it was even possible to mine bitcoin from the browsers and normal desktop or laptop computers. By then many people mined the coin and held it for a long time. Some people sold it for quick bucks and some people are holding it till today. They are one among the bitcoin rich list people today. That is how it all began.

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After the success of Bitcoin and when the underlying technology became popular many people started reading the Bitcoin's fundamental code and they started introducing new coins with their own encryption algorithm and the concepts were also modified a little. But till today we are able to see Bitcoin as the number one cryptocurrency. Though we have so many other cryptocurrencies that are several times faster and better than Bitcoin, people still prefer using bitcoin and there is also an ignorance among the people that Bitcoin is the only cryptocurrency because it is very popular.

I guess it will take some time for common people to understand more about cryptocurrencies only after they dive in here. We have stepped into a new decade this year and this is going to be an exciting year for cryptocurrencies. Compared to the previous decade where the popularity rapidly increased the price of bitcoin from cents to around 9000 $ today, I believe the other altcoins and good projects are going to have a good time in the coming decade because of the popularity of cryptocurrency is increasing rapidly among the general public. To support that, many countries have also made it legal to invest on cryptocurrencies and transact using cryptocurrencies.

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There are also many new blockchain projects emerging every single day giving a good opportunity for the investors. Many projects also give airdrops and attract people to invest. But when that happens it is also important that investors should be very careful about what they choose to invest. There have been many scam projects in the past and it will still be in the future to cheat the investors and run away with the money. It is purely the intelligence of the investors to get stuck with these scams or to escape from that.

In some of the countries, there have been government projects and banking projects with the help of blockchain technology and cryptocurrencies. Many of the top leading banks are now using cryptocurrencies like Ripple to transact from one country to another or to move the funds from one country to another. The main reason for this is that it is decentralized and the transaction is more secure and transparent. It is faster compared to the other medium of transactions available in the banking sector today. Considering all these factors, I believe there will be a great future for cryptocurrencies in the coming decade.

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Posted Using LeoFinance