Not in Crypto Yet? Here’s What Investors and Businesses Saw Before Everyone Else

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Cryptocurrency has blown from a niche digital asset only owned by ‘internet dwellers’ to a mainstream financial commodity. As such, it has grabbed the attention of investors, business people, and now the common consumer. Reports estimate that there are around who own crypto.

If we speak from a consumer standpoint, cryptocurrency has a lot to offer like better privacy, lower transaction fees, and giving you the ability to transfer amounts across the border without paying any banking fees. They follow a decentralized structure which means users have control of their finances and no singular individual or organization has authority over it.

But long before this hype around crypto began, investors and businesses alike were ahead of the curve in identifying the advantages they stood to gain by buying this currency. These early adopters who decided to buy Bitcoin when it was introduced have gotten huge gains as the coin is priced at six figures.

Let’s take a closer look at what these investors and businesses saw in this wonder coin and how they leveraged its power and worth.

The Success of the Gaming Industry

The gaming industry was one of the earliest to welcome crypto as a payment method for gamers. While this has been in many online marketplaces to buy digital games, one particular shiny area here is an where coins such as Bitcoin and Ethereum are used for deposits and withdrawals.

The reason for this quick adoption is because of the widespread benefits that both these casinos and players gain by using crypto. For starters, quicker transactions mean that money flows both ways in a fraction of the time and there are no banking fee overheads to concern yourself with. Additionally, there is enhanced privacy to be enjoyed which is a factor many people take into consideration when gaming online. 

For this tech-savvy generation, this all sounds appealing, and for businesses and investors it shows how the gaming industry often acts like a testing ground; where new tech can be experimented with, paving the way for broader adoption.

Revolutionizing International Transactions

Traditional ways of sending money overseas as remittance are difficult for an everyday person as it involves high costs of processing and is a time-consuming process. In comparison to this old way, crypto changes how we look at this issue. It redefines this whole process by allowing direct peer-to-peer transactions, meaning you can send money to someone overseas easier and faster.

Transaction fees through these are a fraction of the cost, with Bitcoin costing $1.50 while ETH will run you $0.75, no matter the amount you send. Now compare this with bank transfer fees and you’ll notice a big difference.

E-Commerce Goes Crypto

Retailers in numerous numbers are turning to accepting digital currencies from their customers as a means to enhance the overall experience delivered and also to facilitate better transactions. Since a high population is considerably into technology and somewhat understands its working and benefits, the e-commerce stores hope to accommodate consumer desires.

Paying with a typical credit or debit card for a local or international retail transaction will incur additional charges. Crypto transaction fees are considerably lower compared to these and stand to benefit the end customer while retailers can maximize their profits. A report making over a billion dollars in sales each year have turned to accepting cryptocurrency.

Real Estate in the Digital Age

Crypto and blockchain have been utilized to introduce a new way of buying properties. Previous methods were cumbersome with long wait times and too many intermediaries but crypto offers a smoother alternative.

One of the biggest advantages here is that using blockchain means all records are digitized including ownership papers which makes buying and selling easier. Each transaction is recorded on a ledger which cannot be altered at all so previous transactions on the property and ownership history can be verified.

Through this, proof can be established and the risk of fraud can be brought down to a minimum and trust can be established between the parties involved. Also, cryptocurrency again makes transactions less costly by cutting down on middlemen charges brought on by agents and banks against a property.

Final Thoughts

Although the , cryptocurrency has still miles to go before it is completely embedded in our society the way fiat currency is. However, judging by the numerous benefits it has to provide for parties who use it, there is possible speculation that this will happen sooner rather than later.

The use cases for crypto are present in front of you and clearly, investors and businesses are getting involved greatly in this. From a future standpoint, having an investment in cryptocurrency will stand to benefit you as well.