Many people more and more often ask themselves, what is cryptocurrency?
This is a very important issue to understand and discuss before jumping into the world of cryptocurrencies. In summer The United States Securities and Exchange Commission has claimed that certain types of ICOs are actually securities. This decision is very influential for the world of cryptocurrencies as many countries will follow the experience of USA in 2018. Well, Singapore has already done it. Many crypto enthusiasts believe that most cryptocurrencies (Bitcoin, Ethereum, Litecoin and many others) can not be considered as legalized way of payment. There are a number of reasons for it.
First of all, the cryptocurrencies, as mentioned above, are under regulated.
Secondly, we still need to work hard on the spreading the digital currencies among the people of different nations. Due to the most recent polls in India, 97% of companies are aware of cryptocurrencies, but only 22% already use it as a payment. This is definitely not enough to legalize certain cryptocurrencies as the way of payment. A number of important Data Scientists claim that most people still consider this sphere more as an investment, that can bring easy money in a short period of time.
Most probably the next stage of the development of the world of digital money will be its legalization as a way of payment in the European countries. But it can not happen now for a number of reasons. In conclusion, it is definitely worth investing in cryptocurrencies and spread the news about it among the people. However, the current world is much more dynamic than it was a decade ago.
That is why the conception of cryptocurrencies is always evolving and developing.
They are not the same as they were in 2010. It is only the matter of time what it will become in the future.
Best regards. Coino.biz Team