As we are going to talk about latest Bitcoin trends in this article, the emergence of Cryptocurrency has seen both success and mass adoption over the years, most especially with the well-known Bitcoin.
Bitcoin came into the public light back in the year 2009 and it has continuously gained momentum since its emergence.
Nevertheless, we will be analyzing Bitcoin trends over the years as they may likely have a huge effect on the future of Bitcoin.
Understanding The Basics Of Bitcoin
Because Bitcoin does not make use of intermediaries to prove its transactions, it managed to capture the interests of diverse investors all over the globe.
As at December 2017, Bitcoin attained its highest value of roughly twenty thousand dollars. During this peak moment, Bitcoin’s market capitalization was at $330 billions.
When Bitcoin recently emerged, it had a dramatic rise as a result of FOMO; Fear of Missing Out. Nonetheless, Bitcoin cryptocurrency has managed to make a name for itself as the virtual coin has gone through a whole lot.
From the regulatory breakdown of several ICOs; Initial coin offerings and the banning of Bitcoin by China which led to the replacement of FOMO with FUD; Fear, Uncertain and Doubt, Bitcoin Cryptocurrency has been known to have fallen and successfully risen
Nonetheless, the entire cryptocurrency industry has gone through turbulences from time to time.
However, we will be analyzing some of the current Bitcoin trends that every fan and enthusiasts of cryptocurrency should be aware of as they all pertain to the future of Bitcoin.
Before we start with Bitcoin trends, here we have answered some questions already you may have in your mind.
The lightning network and Bitcoin ATMs installation are the biggest trend towards Bitcoin adoption.
Lightning network speeds up the number transaction per second and completes every transaction with lightning speed, Bitcoin ATM allows users to buy Bitcoin worth of as low as $5.
Yes and No, Bitcoin ATM will send the Bitcoins to the address you entered in ATM or it will store it in an integrated wallet and will give you the print of the address with needed information. It does not dispense bitcoin physically.
Bitcoin already has its hard fork which is the Bitcoin cash and everyone is fine with it. It did not result in any huge loss to the original Bitcoin.
Bitcoin has always been decentralized and will remain so for a long time to come.
If you are interested in stepping up your Bitcoin game, read our short yet comprehensive guide on Best Ways To Buy Bitcoin.
So, What Bitcoin Trends Should We Be Expecting?
Some of the Bitcoin trends you may or may not have heard about include:
The Lightning Network
For those who are not aware, the lightning network is actually a high-end scaling solution created to speed up the number of transactions per second.
The beta version of the lightning network launched in the first quarter of 2018. As earlier mentioned, it was developed to completely dominate all handling of Bitcoin Cryptocurrency in the future.
Also, the lightning network is prominently known for offering an amazing utility for cryptocurrency. This is not because it solely serves as a settlement layer but also because it functions as a vital medium of exchange.
Have it in mind that, the biggest size and also the capacity of this network has continued to grow. However, professionals are still in doubt on whether users will end up making use of the network.
All of this is as a result of the noticeable presence of some uneven capacities as well as the tackling of decentralized routing innovations.
The Emergence Of Bitcoin Compatible ATMs
Diverse reports made rounds that the future of Bitcoin centers around the launch of Bitcoin enabled ATMs. These Bitcoin ATMs are to be distributed in some of the main cities around the globe.
Not too long ago, Chicago, United States of America got as much as thirty of these new Bitcoin enabled machines. Also, there are over one hundred such ATMs in the city too. A place like Philadelphia has similar numbers.
Nonetheless, in a city like New York, there are traditional ATMs like the ones all around the world that actually provides cryptocurrency to its users.
You do not have to wonder how it works as we are here to give a clear-cut explanation of it all. In simple terms, interested users can simply look forward to actually creating accounts with a highly reliable payment provider of Bitcoin Cryptocurrency.
Immediately the approval process gets finished, users can instantly purchase from over the three-thousand-dollar worth of Bitcoins daily. Also, this process is carried out with users’ debit cards when he or she gets to Bitcoin-enabled ATMs.
To buy Bitcoins using these ATMs, all you have to do is to enter the dollar amount you want to buy and slip the fiat notes into the deposit area. The Bitcoins are either sent to an offline wallet which the ATM prints or to your already-existing wallet, depending on which option you choose.
Enhanced Involvement From Central Banks
An amazingly striking feature of Bitcoin Cryptocurrency that has been able to appeal and attract its prospective users is the fact that people can make use of Bitcoin without having a bank account
Over time, the future of Bitcoin has indicated that central banks may begin backing up Bitcoin Cryptocurrency. Also, they will go further by backing up some other cryptocurrencies and not Bitcoin alone.
All of this support get offered as the central banks supplement their gold reserves with the bank.
Nick Szabo; a Bitcoin Cryptocurrency pioneer, graced the Bitcoin summit occasion in Israel and made some things known to those in attendance.
He believed that the future of Bitcoin will see more countries making use of the virtual coin and so many others.
Also, he went on to say that there are greater chances of utilizing Bitcoin in the regions that are plagued with difficult conflicts or some type of money management problems.
Boosting Of Bitcoin-Centric Tourism
The Bitcoin trends taking place has foreseen the total increase in both localities and communities as they encourage tourists from all over the globe. This is carried out when they can spend Bitcoin no matter where they travel to.
Back in March 2018, Germany’s tourism board began approving Bitcoin cryptocurrency when extending their tourism services.
Also, a little Beach town situated in Central Queensland, Australia has turned out to be the first-ever tourist town to go virtual currency friendly in offering all of its services.
When people visit other countries, they are expected to immediately visit the country’s currency exchange offices.
However, if the Bitcoin trend continues, tourists will have no reason to visit exchange offices. And, they achieve this through the aid of Bitcoin payments.
Storage Of Bitcoin With Smartphones
With the rapid development in the technology sector, indications show that up and coming smartphones will feature Blockchain integrations.
All of this gets attained through the help of virtually integrated wallets that can keep Bitcoin and other virtual currencies.
As at the late quarters of 2018, HTC; leading smartphone producing company, made the announcement that introduced its Exodus 1.
Exodus 1 is a Blockchain-enabled smartphone built with an integrated wallet. Individuals interested in the smartphone could only buy it with the aid of cryptocurrencies.
Furthermore, the most recent Bitcoin trend has also noticed the debut of the highly revolutionary Samsung Galaxy S10. This smartphone features a Cryptocurrency software wallet through the help of a trademarked innovation.
Continuous Forking With Matured Bitcoin Market
Reports say Bitcoin will get stable in 2019 and also in the future. So many people in the globe still take it as a sort of store of value.
And so, more persons will likely make use of the high-end Blockchain-based applications. Even with the different hard forks happening all around, Bitcoin Cryptocurrency overcomes all of it.
The world of Bitcoin Cryptocurrency is quite an intense and intriguing one. Diverse Bitcoin trends are springing up almost every day and to catch up with all of it, you should follow our blog.
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