The Year 2021 has seen many path-breaking events in the field of Cryptocurrency. The most notable change was the NFT or non-fungible tokens, which are a new crypto application, and the sales of these crypto-assets have surged to unbelievable levels.
The inverse.com reports that the NFT’s have set new records in the major auction houses around the globe.
Another significant development is the acceptance of crypto tokens in general and BTC in particular by the major commerce giants of the globe like Expedia and Microsoft and accepting the coin as a means of exchange.
Transparency is fueling the broader acceptance of cryptocurrencies
The biggest event of 2021 is the acceptance of BTC as a legal tender at par with fiat currency by El Salvador. El Salvador President also attended the big BTC bash where he revealed that his country would make Bitcoin the official tender. He also spread the red carpet and asked Bitcoin to use the massive geothermal energy potential of the nation to mine bitcoin in a more ecologically friendly way.
However, these events will also lead to a closer look by financial experts of the present regime who are advocating for increased scrutiny by regulatory authorities of the cryptocurrency trade and commerce.
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Cryptocurrency cannot be ignored
Cryptocurrency is here to stay, and it could be derided, appreciated but never ignored. The main reasons for increasing acceptance of Bitcoin include a growing faith in cryptocurrency and associated blockchain technology.
In addition, the current regimen of finance is wrought with the dangers of inflation and falling values of the fiat currency. It is also one of the reasons why people prefer to invest in BTC and ETH to preserve the value of their savings.
The quality of web platforms is also improving with updates making transactions quicker and with better transparency. Furthermore, the completely decentralized structures make it an ideal platform devoid of scams and corruption, one of the banes of the present financial regime. Therefore, it makes cryptocurrency very attractive to the ordinary person.
Thus, in all probability, the conditions in the crypto asset arena will improve in the coming days in 2022, and Bitcoin could become the mainstream tool of finance in the future.
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