Crypto currencies are a well-known type of investment around the world in recent years. Mostly everyone who has access to the internet is known to Crypto currencies somehow. But back in 2009 when Bitcoin became the first ever decentralized crypto currency in the world, No one had ever imagined how popular these digital currencies will become in future .
As of December 2022 when we are almost entering into 2023 there are more than 10000 crypto currencies in the market. Which is quite a remarkable growth in such a short interval of time.
Bitcoin Ethereum, Tether, BNB, Ripple, Cardano, Dogecoin, ShibaInu are the most popular crypto currencies in recent times.
But whenever the word crypto comes to the mind also comes the Uncertainty and volatility associated with it which is because of the Decentralised Control. Each crypto currency works on Block chain technology, which is typically a public financial transaction database. Which means the chances of unexpected change are always around the corner due to volatile market sentiment.
That’s why crypto currencies are called the High risk investment option because these are not backed by a central bank or Government of a country like Physical Currencies.
When we talk about the future of Crypto currencies in 2023 we must keep in mind the year 2022 where almost all crypto currencies have dropped 60% due to Scams and regulatory uncertainties. There are a number of concerns and worries about crypto exchanges around the world and frauds associated with crypto holdings. While putting your life savings in crypto currencies one must take a look at all the great crypto falls of history and try to understand the cause behind these.
- At present the crypto market is suffering a lot after the pandemic and post pandemic fall of big exchanges around the world like the FTX crash and Luna crash.
- From my perspective, don’t lose hope from crypto as it has jumped back from every low till now and the future still seems quite bright for Crypto.
- The only advice I will give you is to invest your money into trusted crypto currencies like Bitcoin Ethereum etc.
- In the next decade we can expect the Industry to grow as more and more Businesses and industries are adopting Block chain technology.
So at last it will be quite interesting to see what the future brings out for Crypto currencies and Digital wealth.