Cryptocurrency's Future
I've had friends asking me what "cryptocurrency" is and is it too late to dive into it now?
My answer was either "I don't know" or "Maybe not too late".
These few questions, however, manage to arouse my curiosity. I then started searching on ownership rates of various things like the internet, mobile phones, and a lot more other things.
Mass Adoption
So what's the deal with mass adoption? Mass adoption is the most important process in helping something grow in value, the more users involved, the more valuable that "something" will be. To this date, cryptocurrency reported an ownership rate of about 300 million users. To you, it may seem like, "Wow! That's 300 million users, that's a lot!".
I'll tell you what, that 300 million users only amount to about 3.9% of the total population, and it only seems like it's still in the initial state to me. If the cryptocurrency system has 5 phases, I'll label the present state as phase 2.
Why is it phase 2 and not other phases?
This is just my theory out of my understanding.
Phase 1 (The initial phase)
People create and learn about "Cryptocurrency".
People start to mine or buy "Cryptocurrency".
Visions about the future digital currency start to surface.
Phase 2 (Minority adoption of Cryptocurrency and the current state.)
Crypto's creator starts to collaborate with other tech giants and companies.
People start earning money trading on platforms.
Small businesses and stores start receiving crypto payments as "test drives".
Earn money from staking, lending, yield farming, airdrops, and mining.
Phase 3 (Mass adoption of cryptocurrency)
More and more people start investing in cryptocurrency and keep adding value to it
People get a lot wealthier if they manage to invest before this state (But it's still not too late to invest at Phase 3)
Crypto at this stage will start taking up more percentage of the people's investment portfolio
Phase 4 (Most transactions consist of "Crypto")
Most business, no matter big or small starts receiving crypto as payments. You can use "Crypto" as payment for foods, clothes, daily necessities, vacations, or even luxuries
Securities at this state will need to be improved a lot more, there'll be more risk involved as in more ways cryptos are being used.
More crypto millionaires and billionaires will be born from this stage. (It'll be a bit late now to invest)
Phase 5 (Main foundation)
Crypto will then become the main foundation of the world, like the stock market and gold.
Everyday life will consist of "Crypto"
More and more promotions for payments of each specific "Crypto". An example like, "Pay with Eth and get 1 more free with a 15% cashback on every purchase"
Crypto will have then surpass the gold market cap and be on top of the world (It'll be too late by then to get rich with "Crypto")
Oh, gosh, you're kidding, right? That'll never happen.
That will absolutely happen!
In 2021, there are reportedly 6.378 Billion smartphone users, which translates to 80.63% of the world population owning smartphones.
But look back at history when phones were first invented, did anyone think that they would one day have half of the world's population using them?
And there are about 4.66 billion internet users and that's more than half of the world's population!
The world relies on innovation and technology more and more each day. So what makes you think that digital currency won't grow more and more?
That's why 300 million people involved in "Crypto" still isn't much compared to the 6.378 billion smartphone users and 4.66 billion internet users, what's more, is I think "Crypto" has the potential to catch up to the 6.378 billion smartphone users.
So, my answer to, "Is it too late to invest in "Crypto" now?
It's still not too late to join the crypto community, and it's still as profitable as can be. There's still a while before crypto catches up to smartphone users and there's more valuable crypto still in a dormant state waiting to unleash its full potential. And there are much more ways to earn crypto if you're lacking the capital to start investing
Do some online freelance side hustle to save up money to be able to invest.
Do request your payments in crypto if possible (Save you the hustle to swap it later)
In the process of getting involved in "Crypto", start learning more about them, what they do, and their future goals.
And if possible, HODL them, you'll see the magic!
My advice to you guys is,
If not now, when?
If not you, who?
And P.S.
Investing has its own risk, so remember to do some homework before putting your money to risk.