3 Things You Should Know About Cryptocurrency in 2022 — and 5 Trends to Look Out For
There is no denying it: cryptocurrency has taken the world by storm. And, if you have joined in the Bitcoin and Ethereum craze of the past years, the chances are that you are now enjoying significant capital gains.
So, what can you do with the wealth that you have accumulated? And what does the future hold for cryptocurrency and its uses?
Here are three alternative ways to use your crypto and five trends to watch out for in 2022 and beyond.
3 New Ways to Make the Most of Your Cryptocurrency in 2022
Since 2017, the cryptocurrency market capitalization has been growing consistently, peaking at a whopping $2.96 billion in November 2021. And, as the popularity and value of crypto grow, so are its use cases, applications, and potential.
Today, there are more options for crypto owners than simply trading or selling their coins. Learn more about what you can do with crypto below.
You Can Use Cryptocurrency in a Range of Situations e.g. for Crypto Casinos Online
Cryptocurrency is becoming more accessible and easily tradable, even by retail investors. And, as a growing number of users have adopted crypto as their preferred payment method, many retailers have begun to accept it as a valid solution to deposit and transfer funds.
In turn, today, you can use your crypto coins in a wide range of situations, from getting free spins at cryptocurrency casinos and buying a luxury car to making the most of your online shopping spree. Other ways to use your cryptocurrency include making low-cost private transactions, booking travel, and even getting insurance cover from participating insurance providers.
You Can Now Earn Crypto Credit Card Rewards
Several investment platforms, crypto exchanges, and traditional credit card issuers are now releasing new credit cards that allow users to complete purchases in crypto or obtain rewards in Bitcoin, Ethereum, and other major cryptocurrencies.
While your investment strategy might be to just buy and hold, these credit cards might allow you to continue earning crypto through rewards. Unlike traditional rewards such as points, travel miles, and cash-back, crypto rewards hold an inherent capital gain potential that you might keep into account.
You Can Withdraw Cash From Participating ATMs
Spending the cryptocurrency coins that you have been accumulating might not be the best way to build long-term wealth.
However, withdrawing cash from participating ATMs and completing transactions through a cryptocurrency debit card might be efficient solutions to build financial stability in other ways, such as repaying your existing debt or using the cash for a house down payment.
5 Trends in Cryptocurrency to Look Out For
After the recent market crash, the future of cryptocurrency might not look as rosy as it did just a few months ago.
However, one thing is for sure: cryptocurrency isn’t going anywhere. Today, a growing number of countries and institutions are using it to complete international transactions, and new use cases are found every day.
Some of the key trends to watch out for in 2022 and beyond include:
- The rise of different types of cryptocurrencies with specific uses and utilities
- The introduction of more stringent regulatory measures for the selling, buying, and trading of cryptos on an international scale
- Greater adoption from governments and other major institutions and broader acceptance of cryptocurrencies as a valid form of payment.
- The crypto-fuelled development of Decentralized Finance (DeFi) and its services to users
- The advent of technologies based on crypto and blockchain, including the Metaverse and NFTs
What’s more, cryptocurrencies continue to deliver unprecedented opportunities for both investors and crypto experts alike.
So, Is 2022 The Right Time To Invest in Crypto?
While the recent dip in value has shocked many investors, cryptocurrencies are reshaping the way we experience finance and currencies, and their potential is only set to continue growing.
But, when investing in Bitcoin, Ethereum, or one of the smaller cryptocurrencies, don’t forget that this can be a highly volatile asset!