The CEO and founder of Coin Rivet is a firm believer in cryptocurrency. It is something that he likes to talk about. He is an active investor in cryptocurrency and he believes that Bitcoin holds great potential.
Recently, experts at Coin Rivet provided eye-opening facts and statistics about the cryptocurrency industry. This industry is still in its infancy but it has generated a lot of controversies. Not everyone is a bitcoin believer. Some think that it is not worth investing in bitcoin. However, the believers far outnumber the naysayers.
A Billion-Dollar Industry
According to Coin Rivet, the cryptocurrency industry is worth billions of dollars. Every day, millions of people carry out cryptocurrency transactions.
As of December 2022, the market capitalization of bitcoin is worth over $310 billion while that of Ethereum is worth around $143 billion. It can be seen that some cryptocurrencies are worth more than the leading stocks in the world.
There was a time the cryptocurrency industry was worth nothing. At that time, few people invested in bitcoin. Those who did so and held onto their investments ended up becoming millionaires if not
billionaires.
Will Cryptocurrency Continue Growing?
Experts at Coin Rivet believe that the cryptocurrency industry will continue growing in the foreseeable future. In some countries, there will be double-digit growth. The future looks good for cryptocurrencies, says the CEO of Coin Rivet.
Some countries are considering legalizing cryptocurrencies and in particular bitcoin. This will lead to industry growth. As more countries put in place the legal framework for trading cryptocurrencies, it will be easier to Buy, Sell and exchange BitCoin.
The bitcoin market is set for unprecedented growth; many industry players including Coin Rivet agree with that. Bitcoin holds great potential. As more people become aware of the potential of bitcoin, they will be convinced to invest their money.
It should be noted that as much as bitcoin is a trending topic in the West, in some parts of the world only a few people are aware of bitcoin. The next one million investors in cryptocurrencies will come from Africa and Asia. That is the ultimate truth. It is a reality that many financial experts agree with.
Is Bitcoin Worth More Than the Dollar?
The price of one bitcoin is over $ 16,400 as of December 2022. That makes bitcoin to be worth far much than the dollar.
The dollar is considered the reserve currency of the world. It is used in world trade. Most countries buy oil, gold, grains, and other commodities in dollars. That is because the dollar is the most stable currency in the world.
When the dollar falls, it is not only the United States that will fall but also other countries including China, Russia, India, Brazil, France, Germany, and the United Kingdom. That is because their debt is dollar-denominated.
Which Cryptocurrencies Should You Invest In?
Bitcoin should be your number-one choice when it comes to investing in cryptocurrencies. No cryptocurrency in the world beats bitcoin. In fact, some of them are based on the bitcoin framework.
The problem with bitcoin is that the barrier to entry is high. That is because of the high price of bitcoin. If you are looking for affordable options that are still trustworthy consider Ethereum, Litecoin, USD Coin, and Tether.
Investing in Cryptocurrency Online
To invest in cryptocurrency, you should find a trusted online platform. After doing so, you should open an account with the platform. That will enable you to buy, sell and exchange Bitcoin in real-time. You will be able to deposit and withdraw funds. You might need to verify your identity before
you can undertake any transaction.
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