So why do people want cryptocurrencies? Is it just for the sake of it? Is it only trading? Is it investment? Or do people want cryptocurrencies for some other reasons too? The fact that cryptocurrency is rising high is beyond any doubt. And the fact that it is rising continuously without any major dips is also true. So why is it that it has been almost a decade, but people are still demanding more and more of it? Why is it that people want cryptocurrencies all the time and the supply never equals the demand? Why do people want cryptocurrencies in the first place? Understanding this is perhaps the first step towards planning successful cryptocurrency strategies to multiply it quickly.
5 Reasons Why Do People Want Cryptocurrencies
We’ll start from the most obvious and take this to the least obvious of reasons, as to why do people want cryptocurrencies. But mind you, even the least obvious reasons are instrumentally dominant towards gearing up the demand for more and more crypto.
1. Cryptocurrency Trading: This has become a side business for many and a full time source of livelihood for a few. The way cryptocurrency trading has managed to transform beggars into masters and paupers into kings, it is commendable. The international media further highlights these numbers all the time, and so more traders join in the crypto league. A big reason for why do people want cryptocurrencies.
2. Cryptocurrency Investment: You’ve invested in stocks, you’ve invested in property. You’ve invested in international markets, you’ve invested locally. You’ve invest in gold, you’ve invested in silver. You’ve invested in patents and you’ve invested in technology. Still got some spare cash? Where would you go? People choose cryptocurrency most of the times. Not always as a last resort, but many a times after exhausting all other means of investment options that are open to them. Cryptocurrency appears safe and has been promising since the day it was launched. A very natural choice. And this leads to why do people want cryptocurrencies.
3. As Business Money: There are many advantages of using cryptocurrency as business money. For example many exchanges offer IEOs and ICOs for startups. Many cryptos have been developed exclusively to function as virtual tokens of exchange in businesses. It is not only cheap but convenient too to use crypto in business many a times. Thus, business people want cryptocurrencies as well.
4. Buying Daily’s: Cryptocurrency is also becoming increasingly popular in buying day to day FMCG articles, or buying anything for that matter. Many big logistic firms, e-commerce firms, services firms and technology firms have started to accept Bitcoin as a mode of payment. So that answers the question, why do people want cryptocurrencies?
5. Gaming: Online gaming, gambling and betting industry is a big one and it is growing all the more internationally. Be it fantasy sports or be it gambling for fun, people are using cryptocurrencies for gaming. And as such they want cryptocurrencies more than they did earlier.