Cryptocurrency gained more popularity in 2021 going by the number of users worldwide and acceptance by businesses and governments.
Bitcoin, Ethereum, USDT, and several other altcoins made giant strides and were top of investors’ list. El Salvador became the first nation to make crypto a legal tender while the government of Myanmar had USDT flying high.
Although cryptocurrency is still a very risky investment, crypto enthusiasts a predicting a better future for digital assets.
In this article, we’ll discuss why crypto might become more popular in 2022.
What is Cryptocurrency?
A cryptocurrency is a form of payment that can circulate without the need for a central monetary such as government or bank.
Cryptocurrencies are created using cryptographic techniques that enable people to buy, sell or trade them securely. They can be exchanged for goods and services, though they are often used for investment purposes.
Crypto is also a key part of the operation of some decentralized financial (DeFi) networks, where digital tokens are an important tool for carrying out transactions.
The first and most popular crypto is Bitcoin. Over tens of thousands of other coins alike (known as altcoins) have been created since Bitcoin’s existence.
Top Reasons Cryptocurrency Might Become Popular In 2022
Going by the rate of success of Bitcoin and several other digital currency in 2021, here are some reasons crypto might become popular in 2022.
1. Crypto is seen as the currency of the future- Supporters of cryptocurrency has seen the digital currency as the future legal tender. While El Salvador has made the first move into the future, other nations of the world might consider the advantages of cryptocurrency in the nearest future. People are also racing to buy them now, presumably before they become more valuable.
2. Supporters like the fact that crypto is decentralized- Crypto enthusiasts like the fact that crypto removes central banks from managing the money supply. This backs the claim that these banks tend to reduce the value of money via inflation.
3. Blockchain technology is getting more attention– Some crypto supporters like the blockchain technology behind cryptocurrencies known as blockchain. This is because it’s a decentralized processing and recording system and can be more secure than traditional payments.
4. Cryptos are going up in value– Some speculators like cryptocurrencies because they are going up in value and have no interest in the currencies’ long-term acceptance as a way of moving money.
How To Invest In Cryptocurrency
You can buy cryptocurrencies, trade one with another or mine to earn them. To buy cryptocurrencies, you’ll need a wallet (an online app that can hold your currency).
You can crypto via exchanges by creating an account then you can transfer real money to buy cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and others.
Peer-to-peer platforms are also available for buying and selling of these digital assets. One of the best P2P to buy and sell crypto is Prestmit.
If you ever need to buy or sell cryptocurrencies in Nigeria or Ghana, Prestmit is the best platform for you. You’ll surely get the best rates for your exchange on this platform that is trusted and reliable.