The cryptocurrency was being visualized as the next thing leading GenY to the future. Even a few months back the cryptocurrency market capitalization was estimated to be worth $1,635 billion which tripled miserably after the mega announcement of Musk the owner of the Tesla car company.
Last year, in mid-May, Musk who was supposed to associate with cryptocurrency payments for Tesla cars, declined to accept Investing in Bitcoin payments expressing immense concern over the degrading environmental impact bitcoin mining creates.
It was not only this devastating announcement on behalf of Tesla, which was turning the crypto market into sudden motion, that even another bouncer came striking upon.
The Chinese government also declined all associations with global companies dealing in cryptocurrency.
The sudden panic worked as a blazing fire in the wood and almost crippled down the cryptocurrency market.
However, the good news that lies here is that the game is not over yet as is being witnessed and being assessed by various exchanges across the globe.
Global Market Giants Accepting Cryptocurrency
A market like a cryptocurrency cannot be gauged only in the terms of concern point of a single company like Tesla or a country declining it.
World-leading powers like the US, UK are already way ahead in cryptocurrency trading. The US ranks to be the leading country in Bitcoin trading.
Besides, there are countries like the Philippines, Nigeria, and India; so the list of other countries emerging as potential investors and traders in cryptocurrency is also getting bigger.
Amongst such an ascending promising trend witnessed in the cryptocurrency market, global giants in business in various fields are also acclaiming and acknowledging cryptocurrencies as the future currency.
AXA Insurance
AXA Insurance conducted an interesting study of the market where the new generation was surprisingly found to be already trading or investing in cryptocurrency.
One-third of the respondents amongst the age group of 18 to 55 were accustomed to cryptocurrency and associated with the market as well.
The study was conductedin 2019 and which eventually led to the announcementfrom AXA in accepting cryptocurrency payments for insurances in Switzerland.
Mastercard
In November last year, Mastercard announced and encouraged all its associative network companies to enable all their customers to make payments, business, and transactions in cryptocurrency through digital wallet, and Mastercard would reward them for such transactions in cryptocurrency as part of loyalty programs.
So, instead of loyalty points, the company has initiated to reward users with cryptocurrency.
Microsoft
Microsoft, the big name in computer programming, was expected to take a leading step ahead to encourage cryptocurrency. As expected, the market now enjoys a wide array of services and products from Microsoft accessible with Bitcoin payments.
Microsoft accepts Bitcoin for some of its most popular services like Xbox Live and Skype. Microsoft has not only nailed its move, they’re by further proceeding with the building of ION, a multi-layered identity authentication program. The primary role of this program is to authenticate and verify identities online instead of just projecting as a payment gateway or platform.
These were only a few instances from thousands and thousands of such initiatives turning new stones of milestone achievements for the cryptocurrency market. If you are still lagging behind to catch with a user account and be an active part of the cryptocurrency era today.
Check and Verify
Investment without learning and understanding can always take you down with the low tide. But when you understand all the risk factors, invest as per your financial capacity and liabilities with a pre-planned strategic chart of all emergency expenses, then risks can bring you a return.
Every investment comes with a potential risk factor; it is all about analyzing that. Blindly investing in cryptocurrency is foolishness, but biting on to myths and restricting yourself from embracing a growing trend of development can also be of loss.
Instead, you can:
• Learn about cryptocurrency
• Know more about how to invest minimum and earn cryptocurrency
• Pick a digitally secured exchange
• Handle your private key safely
Bitcoins have already shown promising development. However, despite the current drop, the experts do not deny the chances of a grand come-back bang from Bitcoin.
We give you the best daily information on news, technology, lifestyle, career, health tips, agriculture, business and entertainment. If you can write very well and want to make a living writing online, click HERE!