Why do cryptocurrencies retain their value?. Adopting cryptocurrency as a medium… | Posted by LATOKEN
Cryptocurrency adoption has increased over the past decade. From a small niche market among a small group of early adopters to a global phenomenon with millions of users, cryptocurrencies are playing an increasingly central role in industries around the world. New digital assets and currencies promise a variety of advantages over fiat currencies in the form of decentralization, transparency, and increased efficiency.
But do cryptocurrencies and tokens have value? And why?
A medium of exchange is a material, object, or substance used to obtain goods and services. An intermediary tool or system used to facilitate the sale or transaction of goods between parties. In existing economies, the medium of exchange is primarily fiat currency. However, things are changing as people adopt and use cryptocurrencies. As more people adopt cryptocurrencies, they are becoming a mainstream medium of exchange. People can now use cryptocurrency tokens and assets to buy goods and property, use services, and trade valuables. Adopting a cryptocurrency as a medium of exchange gives it the property of storing value.
How will the cryptocurrency industry develop by 2025?
By 2025, the world will move toward a paperless society. The preference for digital currencies will increase with the help of technologies such as paid apps on mobile phones and other personal devices.
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