Cryptocurrencies are taking over the world. Although there are still so many people who don’t have much belief in them, no one can’t deny the massive development they have been through for the last few years.
To achieve this point of development, cryptocurrencies have been through three key stages:
Adaptation
Innovation
Integration
However, it is critical to consider the potential of digital currencies, and what that would mean for everyone. That is why we are having a deeper look at what the future can look like for cryptocurrencies.
Here are some interesting predictions for the future of cryptocurrencies:
Cryptocurrencies will become mainstream
Even now, cryptocurrencies are recognized as a valid payment method in several countries. Moreover, big (and not so big) companies have adopted cryptocurrency payments in their online and physical stores.
However, we still can’t say that cryptocurrencies have become a widely used form of money. Of course, everyone in the industry hopes this will become true soon.
Bitcoin, for example, is already accepted by some eCommerce platforms, banks and gaming websites. It is even expected that soon it will become a currency of choice for cross-border transactions.
Modern consumers show more and more interest in digital currencies, as a form of investment, and for the maintenance of a competitive edge it is essential to meet the clients’ needs.
Everything we said makes us think that cryptocurrencies will soon become something mainstream!
The Metaverse may not rise to the expected level
Metaverse is one of the hottest topics in the digital world today. However, many people still don’t know what it truly entails.
Simply said, the Metaverse is an “interconnected network of 3D virtual worlds”. Users enter this world with a VR headset.
So, in theory, a wide range of apps will be incorporated into the Metaverse, especially games, video conferencing apps or else.
The Metaverse is not a brand-new phenomenon, but the interoperability is a challenge, requiring attention.
Although it all seems so fascinating, it is possible that the Metaverse might not be able to meet all the requirements and there are some services that shouldn’t even be included in it.
The ranking of the top 50 cryptocurrencies may change for a lot of them
When we say that the ranking for some of the top 50 currencies is going to change, we mean it will get worse.
Some outright zombies, for example Ethereum Classic, can be eliminated, as well as many other projects that now appear at the top of the list. Their places will be taken from new, fresh coins.
Crypto wallets can become the new super apps
Today, DeFi users need to deal with many protocols, and their number is increasing every day. There are wallets, interfaces, exchanges, bridges and lending protocols. For anyone, coping with so many technologies can be hard and even annoying.
The ideal technology in that case combines a maximum number of services, and of course, the best choice is when the apps are already included in the wallet.
Users don’t really care which exchange they use. All they care about is efficiency, security, and prices. The result would be, DeFi protocols evolving into back-ends, supporting well-known wallets.
Conclusion
The crypto world seems quite interesting, and we believe it has much more to offer in the future.
However, as long as investing in cryptocurrencies seems like a good long-term investment, you should remember there is also a huge risk involved. We can’t give you any investment advice, except never invest more than you are willing to lose!
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