The Evolvement of Cryptocurrency Industry

Digital currencies are not a new concept. Prior to bitcoin, a number of digital currencies have existed. However, none of them gained any mass attention. Things changed in 2008, with the introduction of bitcoin by an unknown person named Satoshi Nakamoto.

Backed by blockchain technology, bitcoin offered distinctive features like never before. With its unique model, it gained such incredible popularity that it gave a foundation to an entire industry of cryptocurrencies.

Now, more than 10 years later, more than 2000 cryptocurrencies exist in the market today. The whole market is maturing with different cryptocurrencies catering to diverse use cases. Moreover, the adoption rate of the crypto industry is rising. Big organizations, with the recent addition of Starbucks, have started offering cryptocurrency as a payment option to their customers. Furthermore, like the stock market, companies have also started offering cryptocurrency future contracts. Different kinds of models like leveraged trading for cryptocurrencies are also seeing the light of the day. Such indicators point out that the industry is rapidly maturing while gaining mass attention.

Trading or investing in cryptocurrencies, if done with proper structure, can bring you major benefits. As the industry is still in a developing stage, you can invest in a cryptocurrency which will be the next Apple of the future decade. Alternatively, you can even choose to trade short term in a cryptocurrency and gain returns on your investment.

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