Today we wave goodbye to the old £1 coin in place of the new model. We’ve recently seen the introduction of the new £5 note and the brand new £10 note. However, it’s inevitable that cash will dwindle over the next few years and currency will become virtual and include cryptocurrency.
With the rise in online banking and the increased use of PayPal over the last decade or so. There’s no surprise that new Blockchain currencies like Bitcoin and Ethereum are paving the way for a new wave of how we trade services for time.
Storing blockchains is simple, you open up a wallet, similar to a physical wallet, just in this sense it’s digital and your crypto is stored there. There are plenty of different cryptocurrency wallets to choose from – for example, the ADA Wallet is a popular option for storing Cardano assets. There are options for every taste. To buy crypto doesn’t seem to be the problem nowadays, but the buyer’s intention and expectations
Why Cryptocurrency Is The Way Forward For Investing
Cryptocurrency payments
Admittedly, currently, 90% of my invoices are paid via PayPal and not a simple bank transaction it really resonated. By 2027 statisticians predict that 10% of the world’s GDP will be stored on these Blockchain currencies. Blockchains like Bitcoin and Ethereum.
What’s interesting is that value of these two ‘currencies’ exponentially grows too. I read just the other day that Baroness Michelle Mone and Douglas Barrowman who have developed a 2.1 million square feet apartment complex costing £250 million. Located in Dubai, are selling the apartments in the 40 story building for 33 Bitcoin (BTC). Which equates to around £107,500 at the current BTC rate.
A brash move claims many. A smart move claimed by some. Baroness Michelle Mone and Douglas Barrowman clearly believe in the power and see the increasing value of cryptocurrency.
Take Bitcoin for example. Over the last year, the value of a single Bitcoin has truly exploded. Increasing by more than £2,700 in this time period.
There has been lots of talk about Bitcoin and the banking system and in particular the Bitcoin bank fake bots when it comes to trading BTC and other Crypto.
Influencer payments
This week came a bold announcement. One of the influencer marketing brands I work with will now have the option instead of paying in gift vouchers they’ll offer Bitcoin as an alternative payment method.
For those of you who are looking to save or invest some of your influencer marketing earnings, Bitcoin could be a great saving pot.
Over the last few months, I’ve become more and more intrigued by cryptocurrencies. Especially after seeing brands such as Amazon, ASOS, Etsy, Expedia and Microsoft accepting Bitcoin as a payment method.
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Influential Investors
Huge influential business personalities such as Richard Branson, Bill Gates and Warren Buffett are consequently championing the rise of cryptocurrencies. Therefore giving more confidence in the future of the currency.
Having a fascination with how the world is moving from paper cash to crypto-cash. It leaves me intrigued and like I said, reading article after article including watching an interview with Sir Richard Branson. Talking about this new wave of currency, it really made me think, what’s the worst that could happen?
Well, I guess you could be this guy?
Read the full article on Forbes here or UK Business Insider.
Conclusion
As we witness the transformation from traditional currency to digital forms like cryptocurrencies, it’s clear that the future of finance is evolving rapidly. The goodbye to the old £1 coin symbolises more than just the end of an era, it marks a shift towards a more digital, efficient, and possibly a globalised financial ecosystem.
Cryptocurrencies like Bitcoin and Ethereum are at the forefront of this revolution, offering a glimpse into a future where digital wallets replace physical ones and transactions become faster, more secure, and less bound by national borders.
The integration of cryptocurrencies into mainstream commerce is already underway, with major brands and influential figures endorsing its viability and security. This, coupled with the technological advancements in blockchain, ensures that digital currencies are not just a fleeting trend but a fundamental aspect of how we will interact with money in the future.
In conclusion, the transition towards cryptocurrencies offers exciting opportunities for investment and growth. It encourages a more inclusive financial system that could transform how we understand and value money.
Whether for everyday transactions, investment, or influencer payments, embracing this change can lead to greater financial empowerment and innovation. As the digital landscape evolves, staying informed and adaptable will be key to navigating this new era of finance successfully.
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