Cryptocurrency adoption is rapidly growing, and there are many use cases that can be implemented in a variety of industries. Although crypto banking may not be mainstream yet, it’s definitely here to stay. Our prediction for 2023 is that Crypto wil take center stage in more and more countries, that crypto assets will become more mainstream, and finally that crypto payments will hit an all-time high. After all, cryptocurrency is a great way to transfer value, store value, and invest. The most important thing to remember about crypto is that it isn’t going anywhere in the near future. It’s here to stay and will be used for more and more transactions as time goes on. The only question left is: how long until crypto becomes mainstream?
As a reminder, cryptocurrencies are unique because they’re one of the few types of assets that people can buy and sell without any government involvement. This level of autonomy is attractive to investors, who are looking for new ways to diversify their portfolios.
Cryptocurrency adoption is growing and there are many use cases that can be implemented in a variety of industries. Going into 2023, we will see that crypto-friendly banks will continue to expand, as the market for crypto and blockchain grows. In fact, there are already signs that this is happening; some examples include: Chase, Revolut, Credit Suisse, Barclays and Lloyds Banking Group. As crypto becomes more mainstream, financial institutions are adopting it into their systems. This holds value for customers, who are able to use their regular banks to store your money in cryptocurrencies.
The crypto exchange market has seen some major shifts recently, with many exchanges becoming mainstream. It’s no longer just a place to buy and sell your cryptocurrency. There are already a number of crypto exchanges that can be considered ‘mainstream’, including Coinbase and Robinhood. These have had an enormous impact on the growth of cryptocurrencies by making it easy for people to buy and sell cryptocurrencies at low costs. All these platforms allow users access global markets without having accounts elsewhere like traditional banks do.
Thus, as crypto banking grows, there will be an increase in the number of places where you can pay with cryptocurrency. You’ll be able to do this at restaurants and bars, as well as online stores. In addition to these traditional locations, crypto payments are expected to hit an all-time high in terms of the number of places they’re accepted.
The major downside to cryptocurrency is that it’s still in its growth phase. While this means that there’s time to get involved and make money, it also means that cryptocurrency is volatile and unpredictable—and could lose value over time. If you invest in bitcoin or Ethereum at their current price, you could see your investment grow five-fold or more over the next year; however, those same coins might lose most of their value in the same period if a new technology comes along, or an unexpected event occurs.
Despite volatility concerns, the crypto market is growing, and there are many use cases that can be implemented in a variety of industries. Cryptocurrency will become mainstream in the future, as it is here to stay. Cryptocurrency is the future of money and digital payments for many reasons.
We believe that cryptocurrency is here to stay and will only grow as more people discover its benefits – the change into crypto is already on its way. As crypto adoption expands, so too do the capabilities of blockchain technology. We’re excited to see what the future holds for this exciting new sector!
If you’re interested in learning more, check out our website to gain a quick insight into our platform, and start your 2023 by taking a step into the world of crypto.