Speculators Are Convinced Bitcoins Value Will Increase then Stabilize

February 23, 2018 by Adrian Thorpe

Despite the many attempts to try and regulate the use of cryptocurrencies such a Bitcoin, and with many countries of the world either trying to ban the use of them and tax the profits derived by users of Bitcoin and other digital currencies, not one country has been able to do so with any levels of success.

As the awareness of cryptocurrencies is increasing, and with the number of people now investing in the huge number of different ICO’s that are available, 2018 is going to be a boom year for cryptocurrencies, as the number of people both using them and investing in them increases.

It has also to be pointed out that it is not only the man or woman in the street who are being tempted to invest in cryptocurrencies, but many banking institutions and big well know businesses are also looking at a ways they can cash in from them too.

Many banking institutors, payment providers and general companies and businesses are latching onto just one cryptocurrency, and as such there is no getting away from the fact that whilst Bitcoin is still the best known cryptocurrency and the one with the largest market capital, there are plenty of other cryptocurrencies that could become more popular than Bitcoin.

However, for them to do so they need to offer a range of built in features and benefits for users that Bitcoin does not offer, and that is not as difficult to achieve as you may initially think.

Problems That Need Addressing with a Bitcoin Alternative

There are of course a large range of alternative cryptocurrencies to Bitcoin, and whilst none of them have so far reached the dizzy heights achieved by Bitcoin, many of them are increasing their market capitals each day.

There are of course several problems that need addressing if there is ever to be a real alternative to Bitcoin, and as such let me give you an overview of what the ideal cryptocurrency should be offering its users.

The way in which a complete novice gets themselves a cryptocurrency wallet does need some thought, for whilst there are plenty of them about, they are rather complicated to understand for the novice user, and many of them that are available only allow users to store one cryptocurrency within those wallets and on the respective blockchain.

As such if there is to be a good uptake of all cryptocurrencies then someone needs to design a digital wallet that can be used for the access of every single type of cryptocurrency.

It is the processing and transaction fees that are going to astound most users of a cryptocurrency, for there are plenty of companies who are making a fortune by overcharging for their services in regards to allow people to buy and sell cryptocurrencies.

An all in one type of digital currency exchange that allows for low cost and also rapid transactions is what the cryptocurrency community is screaming out for, and should any company deliver such a product it will be ideally embraced for sure.

Understanding the Risks Associated with Cryptocurrencies

The one aspect of choosing to invest in Bitcoin or for that matter any cryptocurrency is that as they are a fairly new concept they are going to be quite volatile for the foreseeable future.

However, having said that some of the major and better known cryptocurrencies such as Bitcoin and Ethereum are finding their own true values and whilst there can be and often is going to be swings and massive volatility in regards to both of those to cryptocurrencies values, they do always seem to rebound back to a central value eventually.

But in regards to Bitcoin it is worth remembering that there is only ever going to be a set number of them available once they have all been mined, and many millions of Bitcoin have actually been lost for good, so as there are only ever being a set amount of them over time Bitcoin will increase in value.

Keep in mind though that as most cryptocurrencies allow people to make and launch their own tokens and then sell them on, there are going to be much larger risks associated with you buying tokens and coins as opposed to the parent blockchain that they are built on.

So always spend as much time as you require learning about what ideas, concepts and businesses are behind any tokens and coins you see being offered for sale through an ICO.