Cryptocurrencies: an industry with more than 300 million users
Cryptocurrencies have become one of the most popular digital currencies in the current financial market. The trust that people have in them has increased considerably over the years, which has increased the interest in investing in crypto in people of all ages and nationalities.
Even with its high volatility, cryptocurrencies have become a global phenomenon and BBVA New Gen has put this investment trend at your fingertips as a way to diversify your portfolio, in addition to having financial advisors whose analysis provides invaluable information to lead your investments to success.
Cryptocurrencies: benefits and risks of virtual currencies
2017 has been the year of cryptocurrencies: More than 300 new virtual currencies have been created. Bringing their total to over 900. In other words, the number of virtual currencies in the world more than triples the number of conventional, state-issued currencies, which according to the UN currently stand at 180.
It all started with Bitcoin
Bitcoin was the first cryptocurrency to emerge as a way to ward off the Great Recession. Its value ranged from pennies to an all-time high of $68,000, making it one of the most popular options to pick. Nevertheless, it is not the only one.
Since then, a long list of cryptocurrencies such as Ethereum and Tether have emerged that have positioned themselves in the financial market thanks to blockchain technology. Reports assure that there are currently around 19,000 cryptocurrencies, so taking the time to analyze is vital for your finances.
Part of the process of investing in these digital currencies is to analyze how they perform in the financial market. This will increase your chances of success and can bring you a positive return on investment.
Which generation buys more cryptocurrencies?
The cryptocurrency financial market is, without a doubt, led by millennials. In fact, it is estimated that 57% of all cryptocurrency owners are millennials. The rest of this percentage is divided between generation Z and generation X.
This segmentation represents an important feature of the generation that has faced strong financial problems throughout their lives, which has led them to rely on unconventional ways to increase their income.
A future with government regulations
The size of this industry has undoubtedly drawn the attention of government entities around the world. What was initially taken as a way to move money without the participation of government entities could soon end, since the authorities are constantly looking for ways to regulate these transactions.
Another important point is the mining of cryptocurrencies and its impact in terms of resource use. This step has led several countries to restrict or completely ban their use.
These digital currencies have become the future of finances for many and their evolution makes it almost impossible to think of a world without cryptocurrencies. It has then become a financial industry that does nothing but grow and attract new users every day.
Are you one of those interested in investing in cryptocurrencies to diversify your finances? Make the decision and do it with qualified professionals through BBVA New Gen.
Cryptoinsurance, perspectives of an industry with a future
According to experts, cryptoinsurance is poised to position itself as the favorite of investors in the not too distant future and, in fact, its growth will practically go hand in hand with cryptocurrencies.
How do cryptocurrencies work?
In October 2008, an individual or group of individuals who would later be known as "Satoshi Nakamoto" released the "Bitcoin" white paper”. His claim is that it will become the world's digital currency, distrusting the FIAT money backed by governments and the International Financial System (IFS).