Cryptocurrency has evolved from a highly speculative investment to a serious alternative medium of exchange over the past ten years.
It can be a difficult thing to get into if you don’t keep up with the tech industry. In fact, most people find that trying to understand cryptocurrency is extremely daunting and requires a bit of tech knowledge if they want to make the most of it.
Thankfully, the internet has made it easy for people to share their knowledge so that others can learn about complex concepts such as cryptocurrency.
So first, we’re going to help you make cryptocurrency a whole lot easier to understand with some really useful resources and tips.
Start with videos and online guides.
It’s often much easier to learn something new if you follow guides and videos about it. Whether it’s deeper explanations of cryptocurrency concepts or breakdowns of how the technology works, these are things that you can learn with ease by using different guides and videos.
A great start would be to look at various cryptocurrency YouTube channels. This is a great place to learn since these YouTubers are essentially influencers.
They can teach you a lot of up to date news about the latest cryptocurrency developments, they can teach you the basics of investing, and they usually share their own success and failure stories that are great for learning material.
If you want to be successful in the cryptocurrency world, then you should focus on soaking in as much information as possible.
Get started with a platform and just do it.
One of the great things about cryptocurrency trading is that you can essentially practice with low-value coins.
A dollar can pick up a few coins in a cheaper cryptocurrency and you can use it to practice trading and to learn the different tools and systems available.
You don’t need to go straight for the big leagues such as Bitcoin. Instead, you can focus on low-value coins that will teach you how to start trading and investing in cryptocurrency.
You should start by looking at different services to use. For instance, this Swyftx platform review is a great place to start since it’ll teach you all about the platform and give you a better understanding of the tools available to you.
It’s also a great way to learn about any pros and cons of each platform before you decide on one to use.
Tech blogs and cryptocurrency influencers.
If you want to keep up with the latest cryptocurrency trends then it’s best to follow some kind of tech blog that covers it or keep up with influencers that talk about it.
This is arguably the best way to learn more about cryptocurrencies because you’ll find a lot of interesting insights about different cryptocurrencies, some of which might even influence the current price of each coin.
Keeping up to date with the latest cryptocurrency news is vital if you want to be successful with cryptocurrency. If you don’t learn about the latest developments in the crypto world, then you’ll find it extremely difficult to make informed decisions when choosing when to buy and sell.
Let’s take a look at some of the biggest cryptocurrencies trends entrepreneurs need to be aware this year and the factors driving these trends forward.
The Biggest Cryptocurrencies Trends
1. The User Base Continues to Expand
The number of cryptocurrency users is growing steadily.
Between 2015 and 2018, the number of cryptocurrency users and active cryptocurrency wallets quintupled.
This trend is likely to continue because cryptocurrency platforms are making it easier for us to buy digital assets. There’s also the fact that cryptos are starting to gain mainstream recognition.
The projections for 2019 include slow growth in fiat to crypto and crypto to fiat exchanges, while crypto to crypto exchanges remain steady.
2. The ICO Craze Cooling
The cryptocurrency market is crowded with Bitcoin alternatives.
Many groups launched cryptocurrencies trying to ride the same wave. However, the number of ICOs is falling because of government regulations.
The few that do occur are being funneled through
But more regulation isn’t necessarily a bad thing. More regulation could help legitimize ICOs and reassure investors who might not be used to them.
Dapp platforms will probably continue to thrive, thanks to the quality and not the quantity of new ICOs.
3. A Shifting Focus on Security over Potential Returns
Security tokens are a novel new player in the market, but they haven’t taken off as expected because of the regulatory issues involved.
Security token offerings or STOs have occurred, but they are so small that there isn’t a viable comparison between those and ICOs.
That hasn’t stopped cryptocurrency platforms and other third-parties offering “
Stable coins are the next big item on the list of cryptocurrency trends.
They are crypto artifacts you can buy when you sell your holdings in one currency, letting you remain in the market but giving you time to roll over the money to another cryptocurrency.
Stable coins are pegged to the value of fiat currency or the value of a commonly traded commodity.
Stable coins are as accessible worldwide as cryptocurrencies.
Their main strength is giving you a neutral place to put your money without having to withdraw it entirely, possibly triggering capital gains taxes.
4. Trading Market to Become Less Volatile
2018 was a year-long bear market for crypto, and we can expect traders to be more cautious in 2019.
Traders will need to be savvier in 2019, and the importance of getting accurate crypto prices is greater than ever. You can even use an automatic trading robot such as Bitcoin Lifestyle to make profits by trading cryptocurrencies.
We’re also seeing major institutional investors simply buy and hold, only liquidating their holdings to lock in their gains.
All of these cryptocurrency trends together should reduce price volatility for most cryptocurrencies.
Read also: Day Trading Tips for Beginners
5. More Emphasis on Scalability
If cryptocurrency is going to become a viable, widespread alternative to fiat currencies, they need to make transactions as fast and simple as paying with a credit card.
Scalability concerns are starting to appear as cryptocurrency platforms fail this test.
Bitcoin’s scalability, in particular, has been scrutinized lately, and it still remains a question mark to this day.
While the much-anticipated lightning network was the talk of the town last year, we have yet to see mass adoption. And Ethereum is also trying to address concerns about scalability through sharding and their latest Constantinople update.
Extremely long transaction times are not acceptable for most financial transactions.
Several groups are trying to increase the block size and implement other solutions so that the transaction processing times speed up while providing the same, secure record keeping. But they do not have the same first-mover advantage or name recognition Bitcoin has.
Still, we could see one of those coins take off during the year if the lightning network ends up being a failure.
Another one of the cryptocurrency trends might be that this year Litecoin, the Bitcoin fork that was created specifically to address some of these issues finally takes off.
The crypto industry is maturing and entrepreneurs should keep in mind the cryptocurrency trends we just shared.
We can expect to see less volatility, a consolidation of the market, and greater accessibility in the years to come.
While the promise of one thousand percent returns is vanishing, the shift toward stability is good for the industry as a whole.