Cryptocurrencies like Bitcoin and Ethereum have become an incredibly popular way to do business on the internet, but there are still many people who are hesitant to try it out. While most people seem to know what a cryptocurrency is, they don’t always understand why they should use one instead of regular money or credit cards. One of the main reasons that people don’t use cryptocurrencies yet is due to the fact that there simply aren’t very many places where you can spend them. But according to three experts in the field of digital finance, this problem isn’t going to last long… Experts Blame Inflation for Lack of Cryptocurrency Growth
The Problem
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The crypto market has been going through a rough patch recently, with analysts blaming its recent decline on out-of-control inflation in China. Increased government regulations, fears of financial sanctions from western governments and lackluster corporate involvement have all hindered growth in one way or another.
And even though Bitcoin has risen by nearly 20% since late January, to $3,960 per coin on April 16, 2018—according to CoinMarketCap—the recent downturn is concerning many experts.
Why Are People Wary?
A recent study conducted by Yahoo Finance showed that 71% of people said they wouldn’t invest in cryptocurrency because it was too volatile. The fact is, people are worried about their money. They want to make sure that when they invest, they know exactly how much money they’ll have tomorrow or next week. When you don’t have control over your assets, it can be difficult to predict your income—and many investors find that unsettling.
What Is Crypto All About?
Many people have heard about cryptocurrency, but only a few know exactly what it is and how it works. We’re here to enlighten you about cryptocurrency. If you want to invest in it, we can help you with that too. Here’s our basic explanation on what crypto is all about. Crypto is an advanced digital currency that uses encryption to keep transactions secure and prevent counterfeiting.