A little over ten years after the birth of Bitcoin, cryptocurrencies and Blockchain technology are an integral part of the financial landscape and of everyone’s daily life. Despite their volatility, their risk capital, they captivate investors, entrepreneurs and amateur traders. This phenomenon is leading to an increase in transactions via virtual currency all over the world, even in physical stores. Bitcoin and Ether are the most well-known electronic currencies on the market and will still have the wind in their sails in 2021.
What is cryptocurrency?
Cryptocurrency is virtual currency supported by a computer network and issued peer to peer. Its operation is based on cryptographic algorithms. In a little over ten years, this new kind of currency has had its ups and downs, while experiencing exponential development. It allows purchases to be made in the most complete anonymity and is not governed by any banking institution. Two elements that explain, in particular, why there are around 1,500 cryptocurrencies in circulation on the market.
It is the most famous and well-known cryptocurrency on the market. Appeared in 2008, it is the first digital currency to appear in the world. Despite the declines, the disappointments, the increases, Bitcoin has become an increasingly reliable financial asset, attracting trading professionals, as well as those curious about the stock market. Bitcoin remains rare and valuable. Today, more than 120,000 physical and online stores have embraced Bitcoin around the world. In France, around 290 businesses use virtual currency. In 2021, the dynamics will be the same and the interest will continue to increase
These physical brands are mainly located in Paris. Via a digital wallet it is possible to make purchases on eBay and Amazon. Alongside these two giants, and by looking carefully, Bitcoin makes it possible to acquire many consumer goods such as organic food or baby clothes. In the entertainment industry, this investment will be of interest to gamers who can earn credits for video games and online games. The iGaming sector is no exception. Keen on technological developments, online casinos have also introduced bitcoins as a means of payment. An article has just been published on a selection of the best online casinos in Canada. Among them, Play Amo, 888 Casino and Leo Vegas accept payment via virtual currency. And because these crypto currencies intend to invade all sectors of society, the dating site Badoo now accepts Bitcoins.
In 2021, Ether will remain an excellent investment just like Bitcoin. The second best-known virtual currency on the market was created in 2013 by Vitalik Buterin. At the time, the programmer launched a project called Ethereum which aims to create a protocol to simplify and secure online exchanges. It is relatively easy to buy this currency. Traders can acquire it directly through a commission or through an exchange site. The 2019 figures prove to be exceptional, seeing Ether reaching an increase of 900%. This electronic asset is very volatile and increasingly liquid. The result is many ups and downs in 2020. Despite everything, the lights are green at the end of 2020 and optimism is in order for 2021. The reason is simple: the update of the project begins in December 2020 to deliver Ethereum version 2.0. Good news for all budding investors and an update awaited by the Ether community. Nicknamed Serenity, the genesis 2.0 will be phased in three stages. It wants to simplify data processing and improve the performance of the Ethereum protocol.
The development of currencies still attracts as much in an era increasingly focused on Blockchain technology. In 2021, the two most famous cryptocurrencies will again attract investors thanks to increasingly democratized Bitcoin transactions and an Ethereum protocol which is entering its genesis 2.0 phase. The popularity and reliability of these assets has allowed other currencies to see their prices explode as forecast for Tezos (XTZ), Chainlink (LINK), Binance Coin (BNB) and VeChainThor (VET ).