One Very Big Reason - Odds are Good that Blockchain will Underpin the Future of Finance
Also, What the Heck are Non-Fungible Tokens? Keep Reading, This Article Explains…
It is widely known that cryptocurrency and the distributed finance products made possible by crypto’s underlying blockchain technology provide an alternative to the centralized banking and nationally backed currency models that we are used to. It is also pretty clear to anyone paying attention to the value of cryptocurrencies like Bitcoin and Ether that there is a great deal of profit potential combined with a great deal of risk associated with investing in these products.
As Bitcoin sails past records to impressive new highs, then loses billions of dollars in value overnight, you may be questioning whether or not investing in cryptocurrency is worth the potential heart attack that these peaks and valleys might induce. Like any investment, decisions about risk are very personal, and while we are not here to give financial advice, and it is up to you to do the requisite homework and make your own decisions on the matter, we’ve put together a few market signals that indicate to our team that blockchain is here to stay and the biggest profits are still ahead.
Institutional Investors are Getting in the Game
According to many crypto-centric and mainstream news outlets including CNBC, institutional investors began buying into the cryptocurrency markets about a year ago, with acceleration happening in recent months that coincides with the crypto rally (Bitcoin, in particular).
This matters for a few reasons.
- Institutional investors move huge sums of money at a time, which means a few biggies can have as much of an impact on prices as large numbers of individual investors.
- The endorsement from institutional investors legitimizes cryptocurrency, which sends a signal to other big investors that cryptocurrency is here to stay, reducing the fear and risk historically associated with distributed finance products.
- Institutional money sends a signal to other businesses (think tech developers, payment processing companies, manufacturers, etc.) that cryptocurrency is legit, which then makes those entities more interested in developing products and services built on de-fi platforms. This creates a cycle of embedding where blockchain becomes a part of the mainstream systems, rather than existing in parallel.
Major Companies Are Getting in the Game
Companies from Amazon (NASDAQ:AMZN) and DocuSign (NASDAQ:DOCU) to IBM (NYSE:IBM) and Mastercard (NYSE:MA) are embracing blockchain to develop more secure products for our technological age. As we fully embrace paperless, cashless transactions and cloud storage, blockchain provides the security necessary to combat the potential for fraud, hacks and theft.
The involvement of the world’s biggest corporations in the development of blockchain-based products is a clear signal that this technology is here to stay. When you add to that the fact that we are still in the infancy of blockchain development, the profit potential is currently unquantifiable. And these are just the most high-profile examples of how this tech is evolving. When you go down the rabbit hole of products like non-fungible tokens, you really start to see what kind of diversity of potential blockchain can deliver.
Wait…What the Heck are Non-Fungible Tokens???
Non-fungible tokens provide blockchain enabled ownership for digital assets, which make those digital assets easily tradable.
Let’s use for an example – every parent’s worst nightmare: Fortnite
If you have a child, and access to the Internet, odds are good you have argued with that child about buying one or more “skins” for their game avatars. (For those of you out there not having the pleasure of dealing with a child’s Fortnite-skin related meltdown, a “skin” is a costume that Fortnite avatars can wear while playing the game.) You get skins by using real money to buy a “Battle Pass” that allows you the opportunity to engage in challenges that reward you with skins, or you can buy skins with “V-Bucks,” a process akin to using real money to buy tokens at a video arcade (yes, we are dating ourselves with the arcade reference…) and then using those bucks to buy the skins.
The saga of the Fortnite skin often goes like this: You tell your kid, “No way. Skins are a worthless waste of money.”
They come back with, “That is fake news. In fact, my avatar having a tomato for a head is exactly what I need to build better, get the Victory Royale, and become a YouTube star like Ninja! Plus, all my friends have Tomato Head and they keep calling me a newb and a bot, because all I have is the dumb skin that comes standard….yadda, yadda, yadda…”
In order to stop having this conversation ad nauseum, you relent and buy one—or ten—skins (we’re not judging - parenting in the digital age is hard!), muttering all the while about what an incredible waste of money it is to buy dress up clothes for a video game character.
If only there were some way to get that skin money back when your kid inevitably burns out on Fortnite and decides to never play it ever again…
…Enter Non-Fungible Tokens
A non-fungible token is a digital ownership vehicle built on a set of universal standards that can turn your Fortnight skin into a unique blockchain enabled asset. This asset – or token – is its own thing, like a plane or a potted plant. You own this token, and built into that ownership is the potential to trade or sell it on the open market across various sales channels. In short, if your Fortnite skins were converted into non-fungible tokens, you could trade or sell them in the same way you could sell concert tickets, or snowboard boots. Now, wouldn’t that be nice…
Technology like this is on the horizon, and blockchain and cryptocurrency are what make it possible.
(Find Out More About crypto and blockchain terminology on our FAQ)
We are Just Scraping the Surface of What Blockchain has to Offer – Investment Potential is Huge, So It Pays to Be Prepared!
From non-fungible tokens, to 100% cashless payments, to ultra-secure cloud storage, we believe wholeheartedly that blockchain technology is the future of finance and transactional business. One of the main ways to invest in the massive profit potential associated with blockchain products, is through the purchase of cryptocurrency. But in order to do that, you need an exchange account and a wallet, and this is where many people hit the pause button.
Let Us Help You Get Set Up with the Coinsquad Intro-to-Crypto Starter Package
We know how intimidating it can be to get started investing in cryptocurrency. That’s why we are here! We are standing by ready to help you get your accounts set up and learn how to use them. With Coinsquad on your side, you can feel confident the set-up will be done right.
THE INTRO-TO-CRYPTO STARTER PACKAGE INCLUDES:
- Cryptocurrency Exchange Account Set Up
- Hot or Cold Wallet Set Up
- :15 Minute Screen-Share Tutorial on How to Buy and Sell Cryptocurrency
This package is designed to get you set up with everything you need to begin investing in cryptocurrency. Call 1-877-295-4008 to get the details!
Even if you’re not ready to invest yet, it pays to be prepared to make a move when the time is right by having your wallet and exchange set up and waiting.
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