Bitcoin, blockchain, DeFi, and stablecoin are all terms that would have fallen upon deaf ears only a few years ago.
Times are indeed changing, and we are now witnessing a growing number of consumers learning to embrace the digital payment ecosystem.
What factors are behind this movement? What cryptocurrency trends are set to take centre stage in the coming months? Will Manchester become a crypto-friendly marketplace?
Whether you are considering an investment, or simply looking for unique ways to pay for everyday goods and services, read on to find out more.
Beyond a Niche Opportunity
One of the best examples of where the cryptocurrency community is headed can be seen in the services offered by Mountain Wolf; an international multi-asset management firm.
This company has remained well ahead of the crypto ecosystem, and they appreciate that latest advancements in e-commerce.
Tokens such as Bitcoin and Ethereum are no longer associated with alternative investments alone. These very same currencies now represent the latest digital payment options; enabling consumers to easily access their crypto wallets to perform everyday payments.
Interestingly enough, prepaid crypto cards boast the same level of functionality as traditional credit cards.
They work both for withdrawing money at ATMs, internet shopping or any type of point-of-sales purchases.
We can now see that cryptocurrencies offer a utilitarian edge that would have been difficult to envision in the past.
A Formidable Asset Class
It is also wise to take a quick look at the “big picture” to appreciate just how far cryptocurrencies have come.
Although these assets were previously considered outliers within the wealth management community, they are now becoming popular with seasoned institutional traders thanks to their liquid nature (as well as the potential to obtain long-term profits).
Investment firms have likewise begun to pass on these very same recommendations to the average consumer; strengthening the reputation that cryptocurrencies already enjoy.
Going Mainstream
It would have been difficult to imagine major e-wallets coming to accept cryptocurrencies as a means to execute digital transactions.
However, this is exactly what has taken place, even well-known companies including PayPal now support crypto trading, and this could very well represent the beginning of a more pronounced paradigm shift.
Such a move actually makes a great deal of sense, as customers always want to add another “string to the bow” when it comes to e-commerce solutions.
Manchester residents who already have a PayPal account are much more likely to examine these unique options, and to become actively involved.
Faster, Smarter, and More Efficient
It is just as logical to mention the decidedly practical nature of cryptocurrencies and their associated e-wallets.
Here are three additional reasons why everyday individuals are keen to climb aboard the proverbial bandwagon:
- Transactions occur instantaneously.
- The anonymous nature of the blockchain will help to keep sensitive information from prying eyes.
- Lower commissions and fees when compared to standard fiat transfers.
Simply stated, most cryptocurrency payment methods offer a level of cost-effective efficiency that is hardly possible with fiat transfers.
Still, Manchester will not be transformed into a digital paradise overnight.
Time is required for consumers to understand the advantages mentioned above, but the future is nonetheless promising, and we will have to see what the subsequent years have in store.
Featured image credit: Free to use under the Unsplash license.
