In this high-tech era, everything is digital. In fact, even money has now been digitized. These digital currencies are also known as cryptocurrencies. Cryptocurrency can be defined as a digital asset designed to act as a medium of exchange using cryptography to secure financial transactions, control the formation of additional units, and verify asset transfers.

Cryptocurrency is a digital currency that uses decentralized control, as opposed to a central bank syste.

Early arrival of cryptocurrency

One of the earliest forms of cryptocurrency, Bitcoin, emerged more than 10 years ago. At that time, many people wondered what the function of cryptocurrencies was?

Now that the public is aware of the technology, many predict that cryptocurrencies will replace paper money in the future. However, it is also recommended that Bitcoin is only used by certain groups and will not be available to the general public. Given these two different opinions, what will the future of cryptocurrencies look like.

Cryptocurrency advantage

The main purpose of electronic money is to replace the centralized banking system where every transaction is carried out under the supervision of the bank. As a result, the existence of banks as third parties can be eliminated, like the system used by cryptocurrency.

Thus, the buying and selling process becomes simpler and can reduce banking transaction costs that must be paid by buyers. Some of the benefits offered by cryptocurrencies include.

1. The absence of a third party as an intermediary, namely a bank

2. The buyer is not required to comply with the regulations imposed by the bank and vice versa, the bank cannot impose its own rules on the buyer.

3. Merchants enjoy greater autonomy

4. No accounts are frozen

5. No brokerage fee

6.Customers have better privacy protection

7. Buyers can make international transactions without using exchange rates

8. Higher level of protection against fraudulent transactions.

Future of cryptocurrency

At a time when some people are using Bitcoin, the number of things that can be purchased with crypto continues to grow. To date, more than 13,000 shops and agents accept payments via Bitcoin. Of course this number is still far from the reach of the general public. Bitcoin may not have reached this point due to its limited availability and uneven distribution.

The relentless criticism of cryptocurrencies is a sign that needs a lot of improvement to show the true value of cryptocurrencies. Cryptocurrencies are still considered relatively new in the world of finance and their future is uncertain. If it continues to grow and develop, it is not impossible that cryptocurrency will emerge as a new means of payment in the future.

However, to reach the entire financial world, cryptocurrencies are still being considered at a very early stage. However, the magnitude of interest and attention in cryptocurrencies is a positive signal for sustainability in the future.

Cryptocurrency boost

Considered as a digital transaction in modern times, cryptocurrencies still need to be improved in various aspects. Over time, cryptocurrencies will be able to increase their usefulness as a trading platform. Many companies and developers are looking for a decentralized platform with blockchain as a base. Seen from this point of view, of course cryptocurrency has a bright future if it can develop its services.

That's the article about future cryptocurrencies, thanks for reading, hopefully it's useful, this is just my understanding..