We would not be far from reality if we speak about cryptocurrencies as an asset with great uncertainty. However, with throughout the years, there have been introduced significant improvements that make them a safe and transparent system. For this reason, today we want to talk about its growth.
Are you ready?
The reflection of growth
It's been 9 years. 9 years since the Bitcoin was launched. Nearly a decade since the cryptocurrencies began to occupy a place in existence. Although many institutions, organizations and people of the world did not trust this invention, its advantages were that its use was gradually spreading. Nearly a decade later, the data indicate that there is still a long way to go in this world that began on January 3, 2009, when the first block of Bitcoin was mined.
The soul that fed this cryptocurrency stayed under the blockchain technology and, since then, this chain of blocks hasn't done more than growing. The most utopian predictions have been confirmed. The Bitcoin was the trigger for a revolutionary phenomenon. So much that in subsequent years, they began to see new cryptocurrencies being developed on the resistant bases of this technology.
Ripple, Ethereum, Litecoin, Tether, Cardano, Dash... There are more than a thousand virtual currencies on the market. Others will come in your way, and the most up-to-date are already breaking through in the exciting world of the cryptocurrencies. The blockchain technology continues to be the backbone of its transparency and security, but they are increasingly more additives to create new virtual coins and reinforce them. An example of it, it is the creation of companies to support its activity.
Throughout all these years, the society has witnessed this growth, something that some specialists reflect very well on the subject. Roger Gabriel, director and founder of Bitinka, says that "at his exchange house they had a 300% growth in users and revenue last year".
Countries are increasingly receptive to the use of criptomonedas
Some months ago, we shared with you the advantages that cryptocurrencies can give to a society without access to financial resources. We put the example of Latin American countries such as Colombia or Venezuela, where "around 73% of people are living without access to banking services".
In this sense, Mexico has been the first country in the region to create a legal framework for the use of cryptocurrencies, an alternative that has been created through the Fintech law. Others, however, have been located in a neutral position, as is the case of Costa Rica. This country has been added, slowly, to the use of the cryptocurrencies, because it has provided to companies the possibility of paying their workers part of the salary with other goods. As a result, some experts have considered the use of cryptocurrencies. It was the Central Bank of this country who issued a decree which established that the cryptocurrencies are out of the national banking system.
We have to mention the most reluctant countries. Those who have not found a strong enough reason to include the use of cryptocurrencies in their systems. We are talking about countries that have ban the use of the Bitcoin as Bolivia, and establishing their illegality in the financial system, such as Colombia. Today, debates about the use of cryptocurrencies are still the order of the day in many countries of Latin America.
Where are we going to?
Despite the number of professionals who are willing to make predictions on the use of cryptocurrencies, we believe that an accurate measure of what may happen does not exist. Therefore, we rely on the present data to talk about a technology that has come to stay. We have observed how there are increasingly more institutions who invest in virtual currencies and the ups and downs are consistent. Throughout this post we have seen the growth of the cryptocurrencies, and the data suggest that this phenomenon will continue doing so in the coming years.
Today's innovation is our future.