As we are reaching the end of 2020, we are going for the third decade of the century of Information Technology. Every single field is getting globalized and digitalized. Therefore, why not money?
A cryptocurrency is a virtual form of currency that is being used in certain financial affairs. They allow secure online payments, where the payments are made in the mean of virtual tokens. These transactions and currency tokens are safeguarded with types of encryption techniques and algorithms.
The first type of cryptocurrency that was introduced in 2009 was Bitcoin. Until now, Bitcoin is the biggest name in the field of cryptocurrency. It was also based on blockchain technology. Later on, currency types like Litecoin Name coin, Ethereum Peercoin were introduced. Today we have over 5,000 types of cryptocurrencies. Even though cryptocurrency seems like a good investment, there are still some criticisms about cryptocurrency. Since they are untraceable, they are used for illegal activities.
By all means, 2020 has been a tough year for all of us. But for cryptocurrency affairs, 2020 has been a great time due to the blobal pandemic situation. People have switched to online trading. Most of the young generation is engaging in this trend. Editor of money wire Matt McCall states that 99% of the world population is not aware of the big market events that are going to happen. So still, there is a good chance of succeeding by trading cryptocurrency in 2021.
You may have come across the term “DeFi. DeFi stands for decentralized finance. This is a large network that operates outside of the governments and other large financial institutes. This is a global approach to financial affairs. Anyone with an Internet connection can access this network from anywhere. The major advantage of this system is you get to save the money that you have to spend on bankers and lawyers. With a single click or touch, you can get a loan, buy a vehicle, buy an insurance plan, do anything you want. So, the DeFi can be considered as one of the potential investments for 2021. The Other important thing about this DeFi is, no government can touch these assets. It is quite difficult to predict which currency will gain a dramatic price in 2021. But for sure, cryptocurrency is not a field that is going away soon. Blockchain technology, which enables the decentralized network of this industry, shows that we are going to experience some new applications of cryptocurrency in the coming year.
About Stankevicius Group
Stankevicius Group is a professional corporate service provider including professional public relations and advertising under Stankevicius MGM, and professional general trading insight consulting in global markets under Stankevicius International. In 2021, Stankevicius Group is aiming to open a digital asset investment bank.
Bradley attended Boston University where he received a Bachelor’s degree in Economics and Political Science as well as a Master’s degree in Business Administration from Columbia University Graduate School of Business (currently attending). He loves to write about everything business related.
