There is so much confusion and misinformation out there about crypto that the general public has even become a little cautious whenever the mere mention of crypto comes out of someone’s mouth. Very few people truly understand exactly what crypto is, and even the people that have taken the time to research it are still wholly misinformed.
This is truly a tragedy, and in reality, things do not have to be this way. Crypto is a relatively easy concept to understand, and its basic premise can be grasped by anyone with the desire to learn. Let’s go ahead and talk a little about crypto and discuss whether or not crypto is just a stock investment or if it has the potential to be more.
What Exactly Is Crypto?
Despite the fact that the vast majority of people have heard of crypto, few people seem to actually know what it is. The question – what is crypto? – is one that pops up time and time again on financial forums across the world, and as of yet, it seems like nobody has come up with a definition that is digestible by the common public.
Well, let’s have a go at doing exactly that. In its basic form crypto is just a currency akin to GBP or USD with one major difference; it’s digital. Now to leave things with just that statement alone would be to do crypto an injustice, and there are a variety of ways that crypto differs from traditional currencies. However, in its simplest form crypto is just yet another currency.
Even from this small tidbit of information, we can already see that crypto is more than a stock, and instead of crypto investing being similar to buying stocks in a company like Apple, it would be more feasible to equate it to investing directly into a currency like GBP.
However, as we are going to discuss in this next section of this article, the world of crypto is much more expansive than just this, and for those of you that want to truly delve into what crypto has to offer, there is a whole universe full of knowledge waiting for you.
A Currency For Secure Gaming
Now that we have touched upon crypto in its most basic form, it’s time to talk about a few of the properties that make crypto so unique. There is so much information to dive into here, and in reality, we will not be able to cover everything in this one small article. However, we will do our best.
Crypto revolves around a technology called blockchain, which is essentially a group of peer-to-peer networks that receive and verify information simultaneously. Because of this, crypto has a myriad of advantages over other currencies, and it tends to be a much safer, quicker, and better form of payment.
This is why crypto is so heavily incentivised in some industries. Take the gambling industry for example – it is not unheard of for online casinos to give their users exciting free spins offers and promotions for those that choose to pay with crypto, to incentivise people to use this form of payment method.
Crypto benefits both businesses and users alike because of its unique properties, and it is becoming increasingly common for companies to offer some sort of reward for those willing to take the plunge. So, not only is crypto much more than a simple stock investment, but it is also a complex currency with a ton of benefits.
It is also important to note that there are major differences between individual cryptocurrencies, and some coins have innovative properties that set them apart from their peers. No two cryptocurrencies are alike, and to group them all together would be to do them a disservice. However, in the name of simplicity, we will gloss over this fact and just keep to talking about crypto as a whole.
Invest In The Future
Due to the promising and innovative nature of crypto, it is looking increasingly likely that this is going to become a dominant currency in the future. Sure, as things stand at the moment, crypto is not nearly as widely used as it should be. However, it is not going to remain this way for much longer.
As more and more businesses begin to incentivise the use of crypto and information surrounding the subject becomes more prominent, crypto will slowly take its rightful place as the dominant currency of the world. Crypto is slowly building momentum, and it is predicted that within the next few decades, this may end up being the only currency used worldwide.
Of course, that’s not to say that things are set in stone, and nobody can be certain what the future holds in store. Although, many people believe that cryptocurrency is the future, and this is not a notion to be taken lightly.
This gives prospective investors the unique opportunity of advancing the human race, and if this doesn’t convince you that crypto is more than just a simple stock investment, nothing will.
We truly hope we have been able to give you a more concise overview as to exactly what crypto is and why it is much more than just a simple stock investment. Crypto is still something that is relatively new in the grand scheme of things, and just like anything, it is going to take a while for the general public to become accustomed to the notion of digital currencies.
There is no doubt that crypto is multi-faceted and has multiple complex layers for people to uncover, and this is why so many people hesitate to welcome this new tech. However, at its basic level, crypto is just as easy to comprehend as any other currency, and taking the time to understand it now is going to pay dividends in the future.