What does it take for cryptos to be used by everyone?

What does it take for cryptos to be used by everyone?

By Luisongo | The economy and cryptos. | 14 Jun 2021


What does it take for cryptos to be used by everyone?

 


As many here who use cryptos know, this form of money has become popular with the passage of time, to the point where even some highly popular people have participated and supported this type of currency (the Elon Musk case is particular, but of that maybe talk about in another post).

But it takes more than advertising so that cryptos can be used by everyone, and today I will talk about some very important points that make a currency be adopted and considered superior to others, or at least in my opinion.

 


Stability

 


Since the beginning of history, people have migrated from currency to currency but always for the same objective, having a stable reserve of value has made people able to save and thus develop what we know today as capitalism, without saving there is no investment.

At the moment there are proposals to satisfy that need and these are the stable coins, currencies that are backed by other stable goods, but in order to give reliability of their stability, it will be necessary to wait for the same time to show which ones are really stable and which ones are not.

 


Easy to use

 


This is probably one of the problems that today cryptos are determined to solve, research and education are needed to create the necessary means to create the wallet and use it to save or make transactions with it, when historically the currencies that have been used globally like gold and silver and currently fiat currencies, anyone can use them almost instantly.

What I mean by this is that short-term cryptos have this problem and until easier ways to use wallets come out or simply extend this knowledge of virtual wallets it will be a problem that makes their adoption as everyday currencies difficult.

 


Transparency

 


This is something that has always stood out in the world of cryptos and very probably what many people who are today in this world joined, due to the blockchain character and the ease of seeing all the operations that are made, it is practically impossible lend themselves to the problems of the ancient and modern world that made coins unreliable (mixing gold coins with another material and compromising their purity, or as today, printing banknotes until there is no tomorrow), in If a crypto falls, there will most likely be another project eager to fill that void.


With that would be it, in short, everything that prevents cryptos from being more used is something that will be resolved over time, it is something of the medium or long term, I hope you like the subject and do not hesitate to comment and comment on it.

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Luisongo
Luisongo

I am a lover of reading, I have experience in 3d design and I have recently embarked on learning the world of cryptos, I hope I can share my knowledge in this community and vice versa.


The economy and cryptos.
The economy and cryptos.

As the title indicates, we will talk about the economy of the past and present along with cryptos and their future potential.

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