3 Reasons Why Cryptocurrency Is the Future of Business
Cryptocurrency has slowly been making its way into the spotlight of the general public.
If you’ve ever wondered what it is, it’s essentially a form of digital assets based on networks distributed across large numbers of computers.
Many businesses have adopted this digital currency because of its decentralised structure, disallowing governments and central authorities from taking control.
The most popular cryptocurrency is, of course, Bitcoin.
However, others have been growing in success as well. Bitcoin’s competitors include Litecoin, Ethereum, Cardano, and Solano.
With the growing success of these digital currencies, companies around the world have launched their own cryptocurrency platforms to accommodate the demand.
There’s no better time than now to get into the hype of cryptocurrency as it’s slowly becoming the future of business and all other kinds of transactions.
If you need more convincing, here are three more reasons why it’s a good idea to start your journey in cryptocurrency:
1. Cryptocurrency Has Already Been Endorsed by Mainstream Industry Figures
The main reason why interest in cryptocurrency grew was through the endorsement of leading industry figures.
It started with MicroStrategy CEO Michael Saylor, who publicly endorsed Bitcoin and called it superior to cash.
After that, Tesla CEO Elon Musk bought $1.5 billion worth of Bitcoin for his company.
PayPal also helped usher in cryptocurrency’s popularity by allowing its users to buy and make transactions with cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
However, it has yet to allow its users to transfer their coins into a private wallet.
Other major industry figures who have supported cryptocurrency are Visa and Mastercard. Both have publicly endorsed Bitcoin with Visa allowing transactions with Ethereum.
Mastercard, on the other hand, recently announced that they would allow crypto transactions sometime in 2021.
2. Crypto Payments Are Widely Accepted
Since cryptocurrencies have been endorsed by the big leagues, there’s been a growing preference for people to receive payments through crypto.
For example, many international company executives are seeing the benefits of paying their employees through crypto.
Instead of converting dollars into dozens of different currencies, crypto will remove the worries of currency conversion.
Cryptocurrency also makes it easier to hold crowdfunding events.
It makes transactions more transparent for both investors and beneficiaries.
In addition to that, crypto will allow fundraisers to avoid third-party platforms, keeping the transaction directly between the fundraiser and the donor.
Furthermore, crypto can keep coins secure through the use of an offline wallet.
As the demand for cryptocurrency grows, whatever is secured in the offline wallet can only grow in value.
It offers the same financial security as people keeping gold to hedge against different currencies’ constant inflation.
3. Companies Are Starting to Use Crypto for Business Equity
Since cryptocurrency’s value is steadily rising, companies have also begun using it as business equity.
In the modern business world, it’s normal to give early employees shares of the company profits, and many people are doing this by doling out “company” cryptocurrency.
This growing trend works by creating digital coins that represent a company’s equity shares.
It’s an easy way to raise a business’s capital, and owners can even distribute these shares to investors if they need to.
Conclusion
If the growing presence of cryptocurrency platforms are any indication, cryptocurrency is steadily making headway in defining the future of business. If you’re a business owner looking to invest in crypto, now is the perfect time to start.
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