(MENAFN- Evertise Digital) Atlanta, Georgia, United States, October 23, 2023 – In 2009 the world was introduced to something called 'Bitcoin'. As with many fringes technological advances, it meant truly little to most but a lot more to those au fait or au courant with it. Put simply, it was and is a cryptocurrency, at the time, the first of its kind and original name still synonymous with digital money. Even now, with more than 25,000 cryptocurrencies in the global marketplace, many consumers and members of the pubic are none the wiser, and certainly do not have it as part of their financial portfolio or trading deck.
In purely financial terms, almost 50 of the existing cryptocurrencies can now boast a global market capitalization of over US$ 1 Billion, a staggering amount when you consider the vicissitudes they have endured over the years. From the Bitcoin birth to the emergence of so many cryptocurrency competitors, the first real estate transaction done entirely using digital currency to the proliferation of the crypto , as people play and bet with them, these currencies are growing fast.
But when we really get down to the bones of this subject, is Bitcoin, or any of the competing and emerging cryptocurrencies really that common? Has this digital revolution really got to the point where they are mainstream currency, used by the masses and beyond the realm of the somewhat obscure? It depends on who you ask, what your metrics are, and perhaps, how diverse your financial portfolio is, or even how advanced you are in terms of adopting new digital developments. So, let's take a look.
Ready For Change or Remaining Resolute: Are We Really Adopting Cryptocurrencies? As with any technological or digital advancement, there are early adopters. On the other end of that embracing spectrum there are those who don't like change, are sceptical of such things, and often resolutely committed to rebuffing things they either do not understand or have no interest in. People have assorted reasons for both such positions, not always black and white, but not always necessarily well founded either. Again, it depends on many factors. So, it is with cryptocurrencies.
Perhaps we should take a glance at industries, often leaders when it comes to the acceptance and expansion of technology, including cryptocurrencies. When Ethereum, a cryptocurrency, was used to buy a Florida property in 2022, it was a first for the industry. For some, the fact that it took so long to reach that point was astounding, to others, amazing that it happened at all. Other industries have been more, how shall we put it, enthusiastic about cryptocurrencies, harnessing the power it has and how it can grow their business.
Take the global phenomena that is the online crypto industry .
With a profusion of websites, platforms, apps and gaming devices making online cryptos almost ubiquitous, it should come as no surprise to learn that it only took five years from the emergence of Bitcoin to see the first online crypto, the aptly named 'Bitcrypto' come into being. Of course, online gambling was already a booming sector, but allowing cryptocurrencies to be used was always going to pay dividends . With an estimated value of over $260 billion in cryptocurrency play alone, it is hard to deny how good a move it was, but does even this mean it is mainstream?
What Does Mainstream Actually Mean in The World of Finance and Cryptocurrencies? So, we've discussed how real estate and the online crypto industries have embraced cryptocurrencies, admittedly to differing degrees, but how about other sectors? And how do we measure mainstream usage anyway? Is it the amounts being used for trades and purchases around the world that decides a mainstream status, or is it the number of people using cryptocurrencies either to trade on the markets or more frequently in usage for more routine digital transactions?
Well, it is fair to say that, despite the roller coaster ride, the ups and downs, the successes and the failures of Bitcoin and all its competitors, cryptocurrencies look to be here to stay, even if the trajectory may be open to debate. When it comes to the world of finance, stock markets, digital transactions, and money in general, we can at least say with a certainty that cash, stock, and shares are mainstream. But how far have cryptocurrencies come in the efforts to break into this money monopoly?
Personally, I think the debate is ongoing. Ask those who are invested in, own, use or promote cryptocurrencies, or those who run the companies, and I am sure you will receive a resounding response about how far cryptocurrencies have come, and how far they are going to go. Ask someone in the street, however, and you may well be on the end of a blank stare, a question about what a cryptocurrency is, or even a reply that suggests they are not interested in digital currencies. It's all about perspective, but it certainly leaves the question open about how mainstream they really are.
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