Sixty-five industries can be transformed by blockchain technology.
The rise of cryptocurrencies has been a well-documented phenomenon in recent years. But there isn’t a set return on investment (ROI) for investing in digital currencies.
Are you looking to invest in the crypto industry?
Here are some crypto trends to keep an eye on right now.
Table of Contents
1. New Cryptocurrency Regulations Are on the Way
The cryptocurrency market is growing rapidly. In the past year, the market cap has increased by more than $5 billion. This has led to an increase in the number of cryptocurrency transactions.
Globally, there’s growth on diverse strategies to grow this fund and expand the market through startups.
With new cryptocurrencies being introduced to the market, regulators are now taking a closer look.
The most recent regulatory changes have been made in China and South Korea. The Chinese government banned all initial coin offerings (ICOs) and trading on exchanges.
Also, China is blocking all websites related to ICOs or virtual currencies from its internet domain.
China’s decision came after a report released by the People’s Bank of China. They claimed that ICOs had “seriously disrupted” economic and financial stability.
2. Cyber Attacks Taking Place More Frequently
Cyber-attacks are becoming more common. They can be anything from a phishing email to a ransomware attack.
Hackers are using phishing emails to steal information from their victims. Phishing emails are designed to trick people into thinking they are legitimate.
The WannaCry ransomware was one of the biggest cyber attacks that started in May 2017. The ransomware encrypted files on the computer and demanded $300 in bitcoin per computer to unlock them.
Danah Boyd, senior researcher at Microsoft Research, said that the attacks have been observed in the past two years.
3. Some Governments are Starting to Legitimize Cryptocurrencies
Governments are starting to legitimize cryptocurrencies. This is because they are realizing that the issue with crypto is not the currency itself, but rather the lack of regulation and oversight.
In France, it is illegal for a company or individual to sell or buy crypto without a license from the AMF (French Financial Markets Authority).
Such regulations ensure that only those who know what they’re doing can trade in cryptocurrency. This reduces scams and fraud.
4. Demand for Crypto Mining Equipment is Driving Up Prices
The increased demand for crypto mining equipment is driving up prices. In the past, bitcoin mining equipment was available at a wide range of prices. Now, there are only a few models of bitcoin mining equipment available on the market.
The price of graphics cards has also skyrocketed in recent months. While these graphics cards were once used for gaming purposes, they are now being used to mine crypto coins, such as Bitcoin and Ethereum. As such, it has pushed up their prices.
5. Crypto Mining is Spreading to Underdeveloped Countries
In the past, people in underdeveloped countries depended on agriculture for their livelihoods. But now, with the emergence of crypto mining, many individuals from underdeveloped countries invest in crypto.
Crypto mining and/or trading is an independent profession. It does not require any kind of investment or educational qualification. And it can be done from home or anywhere as long as there is an internet connection and a reliable device.
Stay Updated for More Crypto Trends
Here are a few key crypto trends you should be aware of, especially if you are invested in cryptocurrencies.
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