Currency has seen a drastic change in due course of time and gradually digitalized. An unacquainted person named Satoshi Nakamoto discovered Bitcoin and the revolution started from there. Several countries didn’t believe earlier about the authenticity of digital currency and neglected it. But as time rolled down, it gained followers and popularity. Millions of people have now become part of cryptocurrency exchange and possessing billions worth of cryptocurrencies. All the major asset managers of the world are very much fascinated by this new digital currency and are even looking for higher quantities.
The entire world is moving towards digitization of the things that could be digitalized. Currency is one of the major assets that people are now looking for space where there shouldn’t be any third-party involvement. Cryptocurrency exchange provides that platform where peer-to-peer transactions take place and less interruption from the third party. Recently, cryptocurrency exchanges have seen a huge demand despite the price fall of the major cryptocurrency. In India, the central government and the RBI were bound to detain the ban over the cryptocurrency as more traders are flocking towards it. This shows the popularity of cryptocurrency among people. Several other countries have made policies to bring cryptocurrency possession and its profits under tax valuation.
Many anti-cryptocurrency comments are running simultaneously which doesn’t seem to be much effective. Markets are volatile and there was a fall down seen in May but gradually the values are backing up to their normalcy and will soar once again. So, investing in cryptocurrency would be a beneficial and profit generator. Due to the pandemic, several lost their jobs, and their source of income has come down to unimaginable losses. But many have invested in cryptocurrency and gained unexpected profits which have not only supported them at the time of need but also gave a new experience to all the beholders.
The future of cryptocurrency seems bright as many governments have made up their minds to set forth rules regarding cryptocurrency trading. The concern lies mostly in the volatility and illegal usage of digital assets. But these issues could be solved by making things legal, regular updates, and constant monitoring.