Future of Cryptocurrency - A Potential Outcomes in Coming Years

Cryptocurrencies - enough has been said about them and the debates have been endless. Where do you think the future of cryptocurrency lie? Where will be digital gold be in the next 5 to 10 years?

We shall address these questions in the blog and hopefully, arrive at a fruitful conclusion.

The Future of Cryptocurrency - What to Expect?

1. Prices of crypto coins will skyrocket

Let us take the case of bitcoins - the most tested cryptocurrency. Many bottles of champagnes were popped when prices of bitcoins surpassed $1000o dollars in 2017 and the screenshots with the prices were commemorated.  This is expected to rise further in the next few years. The use of bitcoins is 100x more than that at the beginning of the year. 

2. Fully decentralized exchanges

Currently, there are centralized cryptocurrency exchanges that serve as a platform for trading of cryptocurrency. These centralized exchanges are earning a fortune for the services they provide. We can expect a time not so long when all the decentralized order books will be shared and interconnected and this will give rise to decentralized cryptocurrency exchanges. 

Having said so, there is a lot of primary infrastructures to be built so that decentralized exchanges can function smoothly. The exchanges need to discover and share order volume, split economics and have proper consumer and professional infrastructure to make these exchanges more approachable to traders.

3. Super fast transactions 

Let us face it, international money transfers are a pain. It might take anywhere from a few hours to a few days for the money to be credited to the beneficiary account. With the popularisation of cryptocurrency, it would be possible to send money to anyone in the world in less than a few seconds. 

Another issue with centralized money transfer is the outrageous commissions charged by banks for a single transaction. In this case, each of the transactions will cost less than a cent.
 

4. Super fast downloads

When transferring files over the blockchain, the download will take just a few seconds. This will make today’s file transfers seem primitive.  Now, people can transfer files as large as 1 GB in a matter of ten minutes using services like Mega. So, a network of blockchain will allow nearly instant data transfers. 

Imagine, you can pay for a game and play it almost instantly. 

5. Cryptocurrency usage in every business

Cryptocurrency has a much larger application portfolio, other than money transfer. They are used as transaction fees to pay for services like smart contracts.  

Know more about Smart Contracts

Money transfer is not the use that cryptocurrencies have, they are also used as transaction fees and to pay for services like smart contracts. In the future, commercial enterprises will use blockchains like Ethereum and Stellar to deploy self-executing smart contracts across their organizations.

As the smart contract takes over the commercial business spaces, enterprises around the world will take a move from middlemen to blockchain technology for executing contracts and hence, reducing a major portion of the costs and thereby providing their users with cheaper services.

6. Banks will accept and integrate Cryptocurrency 

A major hindrance to the popularization of cryptocurrency had been the banks turning a blind eye to the existence of a parallel form of digital currency. In the next 5 to 10 years, we can expect the banks to accept cryptocurrencies and maybe, create packages revolving around them. 

In fact, this move would be inevitable since it is all about the survival of the fittest and who would be willing to open to the new developments. In that case, people will be able to open bank accounts and buy cryptocurrencies from ATM.  Well, India’s first Bitcoin ATM just opened in Bengaluru, though not by any bank. Still, it is one step closer in this direction. 

When people are able to open crypto accounts, all the related services like crypto debit cards, cryptocurrency loans and maybe, even crypto credit cards will be issued to account holders.

The day is not far when you will be paying for your pizza or your child’s school fee in bitcoins or Ripple. Only time alone can tell how fast we will get there! Considering how the future of cryptocurrency is very bright, you can seek your own cryptocurrency development and related blockchain application development services.    

Top Bitcoin Exchange List 2019

Bitcoin Exchange list of 2019: Introduction

Bitcoin-like cryptocurrencies became a huge trend since the value of such cryptocurrencies grew to an unimaginable level! 

Since then, a plethora of cryptocurrency exchanges or cryptocurrency wallets have become popular, and which are the main reason behind the exchanging of Bitcoin like cryptocurrencies. 

Have a quick glance over Cryptocurrency Wallet- The perfect wallet for your Altcoin

The cryptocurrencies are volatile and that is an unavoidable characteristic of digital currency. Before getting into the Bitcoin exchange list of 2019, let us get into basics of a cryptocurrency exchange.

A Bitcoin and cryptocurrency exchange basically allows the investors to buy, sell or trade cryptocurrencies (either from flat to crypto or from crypto to crypto). Almost the major cryptocurrency exchanges support the trading of the top 20 cryptocurrencies listed by the coinmarketcap.com.

One of the major things that people do check out in such Bitcoin exchanges is whether they offer great functionalities, are user-friendly, and secure! 

Now, let us have a look at the best Bitcoin exchanges in 2019:

  

#1. Coinbase 

Coinbase is the largest and most respected Bitcoin exchange platform in the United States of America. They provide the options of both an exchange platform and a wallet, which enables us to store the Bitcoins. Apart from Bitcoin, it also supports Bitcoin Cash, Ethereum, and Litecoin. Once you sign up in the Coinbase and connect with your bank account, then you can easily transfer funds in and out of your account and convert them to Bitcoin and Dollars at will. 

Coinbase charges a variable percentage fee of 1 percent for U.S. transactions ($1 min, $50 max) from a bank account or Coinbase USD wallet. Purchases are done with a credit or debit card add on a 2.49 percent fixed fee. Coinbase wallet is highly secured, which can be accessed through both Web application and mobile application, with two-factor authentication and keeps redundant digital and paper backups of data “in safe deposit boxes and vaults around the world.” 

The cash balances are also insured for an amount of up to $ 2,50,000 against theft or a breach in online storage. Coinbase also holds 98 percent of the currencies of the customers offline to keep them safe from malicious attacks. 

Website : https://www.coinbase.com/ 

#2.Robinhood

Robinhood actually started out as a fee-free stock brokerage and it was only in the recent years that they expanded into the world of Bitcoin like cryptocurrencies. One of the best parts of this cryptocurrency is that it has no service charges! 

Robinhood supports Bitcoin and Ethereum trades and provides market data for another 15 currencies.

Robinhood was a mobile-only platform first and then added a Web version just recently. And hence it would be best for the people who are comfortable managing money from their phone or tablet.

Website : https://robinhood.com/

#3. Square Cash

Square cash is another mobile app which enables you to buy and sell Bitcoin with no fees at all, as of now! 

This cash application is already one of the leading, for sending money to family and friends for free, just like the Venmo. But the option of Bitcoin buying and selling puts this app in one of the top places to buy Bitcoin list.

Square cash limits you in case if you want to send your coins to another wallet. They do not offer that feature.

 Website : https://cash.app/

#4.  Binance 

Binance platform supports a wide range of digital currencies like Bitcoin, Ethereum and its own cryptocurrency known as the Binance Coin (BNB). They only charge a commission fee of just 0.1 percent for trades.

This app has been reported with bugs in its Android version and some users have also reviewed that they have reported delays in case of withdrawing certain currencies. Binance is also not insured, and this may because of concern to some.  

Website : https://www.binance.com/en

#5. Coinmama

Coinmama is another best all-in-one exchange and digital wallet which makes it easy to buy and sell Bitcoins in US Dollars as well as in Euros. According to the statistics collected from its site, they have more than one million customers in 188 countries. 

This exchange offers great real-time transactions, but it does charge higher fees of 5.9 percent. And if you are buying using a credit or debit card, you will be needing to pay an additional five percent.

There is no mobile version for this Bitcoin exchange platform, but do have a very high-quality website version. Moreover, Coinmama is a registered money business in the United States, thus giving it a higher legitimacy and recognition above the other competitors.

Website : https://www.coinmama.com/

Conclusion

The above given are some of the best Bitcoin exchanges that we do have on the internet right now!

Well, go through the list and also do some additional research of your own and choose the one which you finds the apt for Bitcoin trading and more.

Hope, this Bitcoin exchange list of 2019, provided you with some insight into the Bitcoin world.

Develop your own cryptocurrency exchange platform with the best in industry blockchain development company now!