Сryptocurrencies is a new tool for traders Dexive Follow Feb 21 · 2 min read

After the success of Bitcoin, many other cryptocurrencies and digital tokens have been developed, all of them based on blockchain technology. Currently, there are over 2,000 listed cryptocurrencies, and the total market capitalization has increased from $147 billion (1 Oct 2017) to $192 billion (27 Nov 2019) (Source: Coinmarketcap).

According to a market research report, the global blockchain market is expected to grow from $1.2 billion in 2018 to an astounding $23.3 billion by the year 2023 (Source: Markets and Markets).

Did you know that the global economy is now at its turning point? Thanks to fast digitization and the advancement of such technologies as blockchain and cryptocurrencies, market players today are able to reinterpret the very meaning of money and financial assets in general. Cryptocurrencies are one of the novelties of globalization that have the potential to revolutionize the payment processes and financial transactions.

Owing to the decentralization of the cryptocurrencies, they have become an extremely competitive differential for many entities, specifically those who are operating in the international market. Though lack of regulations and volatility might discourage some people from investing in cryptocurrencies, with risk comes opportunities. The limited issuance and increasing demand, supplemented by constant updates in the technology, make them an asset that can potentially generate substantial returns for investors and traders.

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