By Vanessa B
Bitcoin has undoubtedly come a long way since its incision back in 2009. Created by an anonymous source under the pseudonym Satoshi Nakamoto, it has grown and developed in line with technological advancements. It has undoubtedly grown in popularity during this time as well.
While Bitcoin and other forms of cryptocurrency have grown from strength to strength in recent years, some might be reading this and wondering what the future of Bitcoin will look like. From one year to ten years, it is challenging to predict; much like anything in life, external factors can often get in the way and have some impact.
More Variations Emerging
While there are a few prominent leaders in the cryptocurrency world – Bitcoin, Ethereum, and Litecoin – there are an estimated 4000 different cryptocurrencies available to buy. Naturally, those bought more frequently will be worth much more than those that are not purchased that often.
As technology advances further by the day, it would be somewhat shocking if newer cryptocurrency variations did not begin to emerge from the shadows. However, while the market becomes saturated with different cryptocurrencies, this is not necessarily bad; the more variations that become available, the more people can access and purchase cryptocurrency.
Concerning accessibility to cryptocurrency and how the ways we can buy it have changed over the years, this leads us to the next point.
Increasingly More Accessible to The Masses
One thing that can be said for sure is that with increased access to the internet and increased numbers of cryptocurrency becoming available, there is likely to be an increase in the number of people who can access it as a form of payment. With various businesses – including the likes of Tesla – planning to adopt Bitcoin as a form of payment in the future, it will undoubtedly change how we pay for specific services and products.
Furthermore, with various ways available to purchase Bitcoin, this aspect of it has become much more accessible as well. Along with the more traditional methods of using a debit or credit card to do so, there is now the opportunity to exchange funds from PayPal to Bitcoin through the likes of Paxful and other platforms.
Not only does this give the masses a further opportunity to buy cryptocurrency, but it is ideal for those who are not comfortable with inputting their financial details into websites. Somewhat inclusive, if you ask us.
This is a bit of a challenging question to answer, really. With the recent news that the price of Bitcoin has reached an all-time high, it would come as a shock if it were to plummet overnight and drastically decrease in value. With an increased price and more people purchasing Bitcoin than ever before, it does not seem likely that the popularity and interest in this technological phenomenon will be ending anytime soon.
One thing is for sure; we are excited to see where Bitcoin heads in the coming years and how it shapes the world around us!