The world of cryptocurrencies has been with us for quite some time now. Ironically though, it seems that most people across the globe still have the same questions about the crypto market in general as they had when they first heard about these new commodities. One thing that we do have to take into account is that the possibilities of what you can do as an investor in the crypto market have certainly expanded over the years.
In fact, it could be argued that in the last 2 or 3 years what you can do with crypto assets has grown in such a way that we can now talk about true digital decentralized banks being formed in the crypto space. We realize that we don’t want to get too ahead of ourselves, so before we go any further, here are 5 things you should know about cryptocurrency.
The Price of Any Commodity Can Vary A Ton
Cryptocurrencies are volatile, and if that’s something that scares you then maybe you shouldn’t be in it for the long haul. There are a ton of ways to benefit from the use of cryptocurrencies without necessarily having to hold a position long term and deal with the ups and downs of the price. Volatility can be a positive element to the market if you as an investor know how to take advantage of it.
Crypto Payments May Not Necessarily Be The Future of Cryptocurrency
Should your business start accepting payments in Bitcoin? This was something that was widely discussed for years. In today’s landscape, direct payments through cryptocurrencies like Bitcoin or Ethereum may not necessarily be the future of cryptocurrencies. Payments in a stablecoin AMM platform offer may be a better way to go. You’re getting the benefits of using crypto assets, without the volatility that we just mentioned.
Established Cryptocurrencies Won’t Go Away Out Of The Blue
The fact that this is something that continues to be debated baffles many people within the crypto space. We’ll say it again though, established cryptocurrencies are not going to go away out of the blue. Yes, there’s volatility in the asset and that can scare people away. That doesn’t mean that Bitcoin and Ethereum are going to fold out of nowhere. You have a much higher risk of that with Gamestop!
You Should Start Learning About Blockchain Technology
Even traditional banks are looking into implementing blockchain technology to potentially turn themselves into an automated market maker. Knowing about this type of technology ahead of time can save you future headaches with your overall banking experience.
There Are Ways To Enjoy The Benefits of Cryptocurrencies Without The Volatility
As we mentioned, through a stablecoin or a pegged asset AMM platforms allow users to make transactions with tokens that hold the same value as fiat currencies. This means that you can potentially make transactions through a platform in which you’ll earn the benefits of a crypto transaction, (no commissions, low fees, quick turnaround time), without having to buy Bitcoin or another cryptocurrency. That seems like a win-win scenario for many people.