• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

With Cryptocurrencies Going Mainstream, How Is Purchasing Digital Currencies Becoming Simplified?

NewsBTC by NewsBTC
1 year ago
in Company News
Reading Time: 4 mins read
Advertisement

It is common knowledge that Bitcoin was the first decentralized cryptocurrency. It was developed in the year 2009 by Satoshi Nakamoto. However, today, there are a wealth of digital currencies in place and are commonly referred to as ‘altcoins.’ In fact, it is estimated that the number extends beyond 4000.

Before understanding how companies are making the process of purchasing cryptocurrency simpler, it is important to understand what it actually is. It is basically a currency operating in the digital or virtual medium. It was established to formulate a novel way of making payments on a global level. This specific currency is also independent of banks. Unsurprisingly enough, it was during the banking crisis that they were first created.

Since it was a completely new concept, cryptocurrencies did not enjoy a rapid uptake and acceptability. This can be attributed to the lack of trust in digital money. Furthermore, for most people, the process of creating or even acquiring a crypto token was extremely confusing and risky. Furthermore, several reliable entities, such as JP Morgan Chase were vocally against their use.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

However, in the last few years, a dramatic shift was observed with the rise in global acceptance.

What was the shift?

Even today, Bitcoin cannot be considered a mainstream currency. But it is an undeniable fact that the adoption of cryptocurrency witnessed an unprecedented rise.

Some big investment banks in the US have changed their views on cryptocurrency adoption and have started offering cryptocurrency investments and funds to clients. Furthermore, Blackrock, the world’s largest asset manager, announced that it has entered the cryptocurrency space. Tesla recently acquired $1.5 billion worth of bitcoin, making it possible to pay for a Tesla vehicle with bitcoin, and just a year ago, PayPal incorporated bitcoin, Ethereum, Litecoin, and bitcoin cash.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Many reasons are attributed to the sudden rise in digital currencies. Obviously, the rise in adoption is one. The consistent increase in its value is one more reason, as Bitcoin, Ethereum, and Litecoin have enjoyed a dramatic increase in price in just one year.

Moreover, it is also true that getting one’s hands on digital currencies has become simpler, even for the average investor, after the improvement of cryptocurrency exchanges and platforms.

However, this does not mean that bitcoin and other cryptocurrencies are devoid of any issues. In fact, before they can actually go mainstream, there are many hurdles and regulatory issues that they must overcome. However, they are definitely on the right path. Today, Bitcoin is worth $1 trillion.

Although several renowned entities are entering the crypto scene, many people refused to enter the world of digital currency as the process of purchasing one was excessively complex.

The rise of cryptocurrency platforms

To resolve this issue, several online platforms have been established, which make the process of buying and exchanging cryptocurrency simpler. The acceptability of such platforms rose with the establishment of Coinbase and its decision to go public this year.

For some time now, several platforms and exchanges resembling Coinbase have been in place. Each of them offers a platform where crypto can be bought, with a few focusing on novices and security, as it is an issue that is causing skepticism among many.

One good example in this context is Bit2Me, which is a European platform that was established in the year 2014. However, they operate globally and facilitate the trading of various currencies, with their latest expansion focusing on attracting a wider audience, particularly focusing on beginners.

According to the Co-founder and CEO of Bit2Me, Leif Ferreira, security is the most important aspect of cryptocurrency trading, which cannot be ensured if there is a gap in knowledge. He explains that about a decade ago, people involved in cryptocurrencies were knowledgeable about the field. “But today, with the rise in its popularity in the media, there has been an influx of newcomers, whose enthusiasm far exceeds their knowledge of the technology,” he adds. Platforms such as Bit2Me aim to ensure that crypto is accessible to everyone and each person understands its intricacies thoroughly.

This is achieved through the simplification of their UX in a way that helps new users. Moreover, throughout the platform, they offer walkthrough solutions through features such as Academy, which is an e-learning platform acquiring knowledge from both verified bibliography and trusted mentors in the industry. “We offer videos, articles and step-by-step guides,” Ferreira added. However, it is also important to note that the academy is not meant just for new users. The training sessions that are offered are meant for micro, small and large businesses, as well.

Many new users do not understand how digital wallets work either. Some platforms need users to have a separate digital wallet, while many platforms like Bit2Me, began with a wallet.

“Our first-ever product was the Bit2Me wallet, which is inclusive of a Fiat on/off-ramp. Thus, our users can instantly buy, sell, trade and exchange cryptocurrencies,” Ferreira explains. With their own wallet in place, Bit2Me ensures optimal security, which is augmented with their complex scheme that includes hot/cold wallets and custody solutions.

Today, with the increasing popularity of digital currencies, many platforms are also coming up. As Bit2Me is an older platform, it has managed to build a community. Many other platforms are still very fundamental, in terms of structure. Thus, users are required to have their own wallet and understand the intricacies on their own.

Today, governments and entities of different countries are in the process of launching their own digital currencies. Thus, it is not going to be very long before bitcoin and altcoins go mainstream. However, it is important for new users to start with a platform that is user-friendly. Today, the rise in the popularity of cryptocurrencies has definitely made the process of its adoption easier and with time, it will probably get even simpler.

 

Image by walid mahdadi from Pixabay
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
NewsBTC

NewsBTC

Related Posts

KuCoin Exchange Report Shows Growing Crypto Adoption In The US

KuCoin Exchange Report Shows Growing Crypto Adoption In The US

12 hours ago
CoinEx Charity Book Donation Worldwide: Over 10,000 Books for Children’s Dreams

CoinEx Charity Book Donation Worldwide: Over 10,000 Books for Children’s Dreams

24 hours ago
Six Years of Relentless Efforts: ViaBTC is Always on the Way

Six Years of Relentless Efforts: ViaBTC is Always on the Way

24 hours ago
Top 3 Web3 Coins to Watch in 2022

Top 3 Web3 Coins to Watch in 2022

24 hours ago
The DAOificaiton of Games: How and Why

The DAOificaiton of Games: How and Why

24 hours ago
5 Up-and-Coming DOGE Projects that Might be Worth Your Money

5 Up-and-Coming DOGE Projects that Might be Worth Your Money

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

LBank Exchange Will List Value Interlocking Exchange Coin (VIC) on May 30, 2022

May 27, 2022

LBank Exchange Will List TEAK COIN (TEAK) on May 30, 2022

May 27, 2022

Solana (SOL) and Cardano (ADA) begin to recover as crypto market braces for emergence of Sanzooz Finance (SZFT)

May 27, 2022

Watchlist Essentials: Discounted Blue-Chips Ripple (XRP) and Avalanche (AVAX); Presale For Quitriam Finance (QTM)

May 27, 2022

3 Coins to Potentially Elevate Your Finances: Logarithmic Finance (LOG), KuCoin Token (KCS), and Litecoin (LTC)

May 27, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.