Cryptocurrencies are gaining popularity – why?
The answer to this question lies on the surface: people need all the flexibility and none of the restrictions such as country or bank limitations. Cryptocurrencies fulfill this role nicely.
The popularity of cryptocurrencies is the sign of the times. In the digital age, where technology is as widespread as ever, flexible payment solutions that allow to freely transact across the digital realm from anywhere in the world are in demand.
To back up the aforementioned claims, here is a few stats. The largest cryptocurrency holding countries happen to be the wealthiest – the US and China. At the same time, considering the share of crypto in the general asset structure, countries with unstable national currencies lead the ticket. We can expect that in the near future Turkey, Venezuela, Argentina, Iran, and other countries whose currencies are losing value, will increase their share. Most activity can be seen in tax haven countries such as Malta, Belize and a number of others.
Financial experts believe that the interest to the cryptocurrency market is climbing even amidst the crisis. Unstable geopolitical situation, oil price crash and the COVID-19 pandemic is making people turn towards digital assets. This trend is here to stay!