The crypto market has grown from strength to strength over the last couple of years, as is highlighted by the fact that by the end of last year alone, the total capitalization of this yet nascent industry had grown to a whopping $3T, albeit for a brief period of time. In this regard, despite the market having shed a lot of its value recently, conservative studies estimate that the digital asset industry is primed to keep growing at a compound annual growth rate (CAGR) of 58.4% over the course of the next 5 years, reaching a cumulative valuation of $32.4 Trillion by 2028.
Additionally, it is also worth noting that over the past decade, the total capitalization of Bitcoin alone has grown to exceed that of many prominent mainstream entities including Meta (Facebook’s parent company), Tencent, Johnson & Johnson, NVIDIA, Visa, JPMorgan, Mastercard, Chevron, Samsung, Walmart, Nestle, Pfizer, Toyota, Shell, PepsiCo, amongst others. Such rapid growth has not been witnessed within any sector before, leading many so-called finance “pundits” to claim that the crypto market may have reached a point of saturation.
However, considering how young this market is, it stands to reason that there is still scope for a lot of growth to take place, especially with new technologies continuing to emanate from this space seemingly with each passing day.
How can new investors make their way into the market?
As things stand, there are quite a few ecosystems that individuals can consider using when entering the crypto market. For example, Bitcoin.com is a cryptocurrency exchange and wallet service that also doubles up as a news outlet and web portal. The platform employs an interface that is easy to navigate and is available across all major devices. It also allows users to integrate their credit cards — alongside a wide array of fiat currencies — to facilitate their crypto purchases.
Bitcoin.com’s native token offerings ‘Verse’ will help new investors participate seamlessly in many crypto-centric activities such as decentralized finance, trading, yield farming, and staking. Furthermore, Verse is designed to be extremely incentive driven, helping budding crypto investors accrue handsome rewards for simply facilitating their day-to-day buying/selling/spending/swapping actions via Bitcoin.com.
Another reason why Bitcoin.com serves as a perfect getaway for crypto investors is because each payment made using the platform will allow users to earn a cashback reward in the form of Verse tokens, which can then be traded in for a cryptocurrency of one’s choice at a later stage.
Similarly, Binance is another solid option worth considering. It is a popular cryptocurrency exchange boasting the largest daily trade volume within the digital asset realm presently. In fact, the platform’s native ‘BNB’ token is multifaceted and can be employed for a wide range of use cases including reduced trading fees, payment of goods and services, and facilitation of Binance Card and Binance Pay transactions, amongst other things.
Lastly, Binance allows users to freely trade, store, and buy/sell a wide array of assets all while allowing delivering massive amounts of liquidity to its clients. As a result, it can serve as the ideal entry point for any investor looking to explore the digital asset market.
The digital asset market is only just beginning to find its wings
With the global macroeconomic landscape continuing to worsen — especially with inflation rates rising across the board — it stands to reason that more and more people will continue to gravitate towards cryptocurrencies in the near-to-mid term as long-term stores of value (SOVs).
To put things into perspective, the US Department of Labor recently announced that the Consumer Price Index (CPI) had risen to a whopping 8.6%, its highest level in over 40 years. Not only that, the Federal Reserve as well as a host of central banking institutions across Europe, North America, etc too have announced quantitative easing (QE) measures — such as increased borrowing rates — so as to curb surging costs.
Thus, as prominent traditional financial instruments such as fixed deposits, savings accounts, etc continue to depreciate in value, opportunities to enter the burgeoning cryptocurrency sector look brighter than ever. Therefore, it will be interesting to see how things shape out for this yet nascent industry over the coming year.