Hackernoon logoA Friendly Reminder that Cryptocurrency is the Future of Money by@tanveerzafar

A Friendly Reminder that Cryptocurrency is the Future of Money

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@tanveerzafarTanvir Zafar

Journalist

So far, the cryptocurrency industry has grown to be one of the most lucrative in the world. After a decade of existence, Bitcoin has so far become the best performing asset – period. Statistics from last year show that Bitcoin was the best –performing investment class of the year, as well as the past decade.
At this point, it has become clear to all that cryptocurrencies are the future of money. They might not have the level of regulation that industry insiders would have hoped by now, but that doesn’t mean that they’re worthless.

A Road to Recovery for Bitcoin and the Crypto Market

Last year, Bitcoin’s performance beat out that of bonds, stocks, treasury bills, as well as alternative assets like oil and gold. This was despite the fact that the asset began the year still trying to dig itself out of the hole it sank under in the 2018 crypto winter.
Recall that Bitcoin rose to a high of 19,700 in December 2017. At the time, the asset was on a roll that no one had seen, and everyone believed that this wouldn’t stop. Then, 2018 came and it was a different story. Bitcoin lost over 80 percent of its market value in the year, and people dumped the asset as they tried to save themselves from what seemed like a bubble.
Thus, Bitcoin had to begin 2019 with a price that was barely enough to look at. The asset was, in every sense of the word, a shadow of itself. Bitcoin began 2019 trading a little over the $3,000 mark, and there was little hope of a rise. However, the middle of the year came and it managed to surge. Soon enough, Bitcoin topped the $14,000 mark and the bulls were back.
To be fair, the asset wasn’t able to hold this price for long. It soon slipped back to $7,000, and it struggled to break the $7,500 comfort point before the year ended. Still, the fact that it managed to gain over 100 percent over the course of the year meant that it beat the returns of every major digital asset – and traditional investment vehicle in the world.
Other digital assets might not have had performances as stellar as that of Bitcoin, but they did pretty good in their own right as well.

2020: Holding Strong Despite the Coronavirus

All of these reinforced the belief that cryptocurrencies were the best bet for investors who had a high level of capital and were looking to earn the best returns. Not to be outgunned, institutions have also flocked into the space.
Both individual and institutional investors are so far very interested in this asset class, and with the coronavirus causing global economies – yes, even the strongest ones – to be on the brink of recessions, everyone has been looking for a way to hedge their wealth and protect themselves from a potential global economic meltdown.
It’s a no-brainer that people have been running into cryptocurrencies for the financial protection that they need. While traditional stocks and alternative assets took a beating as a result of the coronavirus, cryptocurrencies remained largely unaffected. Prices have maintained a steady level of growth, and investors are more confident that they have made a right choice.
Bitcoin itself has also rewarded the faith that many had in it. The asset started the year strong, quickly racing past the $10,000 mark and gunning for the highs of December 2017 – or, at the very least, a price peg that was similar to what it got in the middle of last year.
Sadly, the coronavirus came in and disrupted that momentum. The pandemic caused businesses and economies to shut down, with capital and stock markets closing with it. While cryptocurrencies tried to stave off this downturn, it was inevitable that they’d get affected too.
In the middle of March, Bitcoin dropped its price from $8,000 to $3,800, and many were in panic mode once more. Several believed that it would be an experience akin to that of 2018, but this wasn’t to be. The asset soon picked and returned to the $8,500 price point, and the halving also helped it to maintain a price that was well above comfortable for nervous investors.

Comparing with Traditional Markets

To be fair, Bitcoin hasn’t been able to break the $10,000 mark convincingly since then. However, the asset’s performance has still been a laudable one. And other digital assets have still been performing quite well too.
All of these have essentially made something clear – cryptocurrency investments are the best bet for anyone looking to steadily and consistently grow their wealth. Currently, traditional stocks are teetering on the brink, with countries themselves trying to stave off the effect of a recession.
In the United States, over 40 million have lost their jobs as companies continue to work around the effect of the virus. It is estimated that more people will lose their jobs, especially now with what seems to be a second wave of the pandemic coming in.
Several states have recorded surging coronavirus numbers in the past week, leading many to believe that the worst might not be over yet.
In all of this, Bitcoin and other cryptocurrencies have been able to maintain their value. They might not be growing so much, but they at least provide price and value stability – a great asset in a time when investors are simply trying to protect what they have.
A New Opportunity for Potential Investors
At the same time, there are some significant impediments to investors who would like to get into crypto. Many view Bitcoin and several large-cap altcoins as too expensive, and others tend to have difficulties concerning how they work.
For those investors that might not have so much money or who believe that Bitcoin and other large-cap assets are too “establishment,” then perhaps it’s time to take a gaze at the X-Token.
The X-Token is a unique platform that allows users to build social networking services, enjoy gaming and make some significant amounts of money while they’re at it. The description might sound like something that’s too good to be true, but it is.
How the it Works
Primarily, the X-Token platform is represented by two digital assets – the X-token and the M-token. The X-token functions as the main token, with investors purchasing it and gaining value for the money they put in. participants in the platform will also be able to gain money by holding the token, and they can earn some sizable passive income through it as well.
On the flip side, the M-token is an internal coin that is owned by the platform itself. Users use the M-token to conduct transactions between each other, whether to purchase services or to reward activities to other users who complete tasks on their niches.
When put together, the X-toke platform lets each participant to engage in promotions on existing social media channels. These include Vkontakte, Instagram, YouTube, and Telegram. Each investor immediately becomes a full member of the X-token ecosystem, and they receive a specific amount of tokens – of course, this amount is tied to the level of investment that they make.
Crypto investments are the surest way to protect your wealth at this point. With a myriad of options everywhere, it’s a buyer’s market at this point.

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