When will digital currency become popular?,

In the world of digital currency, cryptocurrencies such as Bitcoin and Ethereum have a certain degree of liquidity. With the development and popularization of Bitcoin, the types of digital assets have become increasingly diverse, ranging from legal digital currencies to decentralized stablecoins, and so on. Digital currency is also a new form of payment (like cash). It can be used for payment settlements in different scenarios, and can also be used as a means of value exchange in transactions, such as in commonly used scenarios like electronic transfers.

The mainstream digital currencies in the current market mainly consist of two types. One is the digital yuan, which is issued based on USDT. The other is BTC, which is used to support digital US dollars and is one of the earliest stablecoin projects in the world (such as Binance). It has a large price fluctuation but has essential differences from fiat currencies. In addition, Bitcoin has large price fluctuations and high volatility risks, so investors need to pay attention to risk control. (Financial Network)

When will digital currency become popular?

With the popularization of digital currency, there is an increasing demand for digital wallets. According to the Market Survey Report of the 2020 China International Trade in Services Fair released by the China Finance 40 Forum (CF40), the total market value of global encrypted assets exceeded 1 trillion US dollars in 2019, approaching 400 billion yuan, an increase of about twice compared to the same period last year. The overall investment increase in 2020 is 18%, but the price difference between Bitcoin and gold is significant.

From the first quarter of 2019 to the third quarter, we all know that there are frequent illegal activities, money laundering, and various illegal and criminal activities in the traditional payment field. Therefore, one thing everyone should be aware of is when will digital currency truly become popular?

Currently, the development of digital currency in the country is still in the initial stage. However, with the continuous promotion of the concept of legal digital currency by the central bank, some illegal elements have begun to use this emerging technology for speculative trading in the market. The reason why these currencies have become one of the mainstream ways of using funds is that they have characteristics such as tamper-proofing and anonymity, which makes it difficult for other investors to use them for practical operations. Moreover, due to their decentralized nature, they have no physical support and cannot guarantee security and trustworthiness.

On the other hand, there have been many scams or MLM projects during the economic downturn. For example, recently, the media reported that a user named “Litebao” used a virtual mining device for Ethereum in a house he owned. The user said, “The machine you are buying is a high-risk and easily portable technology compared to the value of the real world.” This news also raises the question of whether digital currency can achieve large-scale development like Bitcoin.

Of course, there is also a view that although the practical application of blockchain technology is still in its early stages, it will gradually mature in the next few years. “Who will do this?”

In fact, if all previous ICOs were to issue coins in the circle to make money, today most people are focused on blockchain. Because they see that blockchain can solve many problems: first, it can solve the issue of data ownership, and then the issue of data rights ownership.