These days the number of interested in digital coins is growing. Respectively, a question arises – Will crypto assets be accepted as a payment means everywhere soon?
Well, when talking about Bitcoin, for instance, it’s undoubtedly considered to be an attractive object for investment. Not so long ago one could buy it for hundreds of dollars, now it costs thousands, and in the near future, it can hit tens of thousands. Accordingly, everyone who managed to acquire Bitcoin before the next jump in its value naturally increased their capital. However, against the background of the growing popularity of Bitcoin, we should not forget that in this case, we are talking about a new type of currency, and the key function of the currency is to be used for payments for goods and services.
Already, an increasing number of companies around the world are beginning to accept Bitcoin as a means of payment for purchases, and against this background, a great number of crypto enthusiasts tell that Bitcoin will challenge the usual payment instruments and soon even outclass cash and payment cards.
Do such optimistic forecasts have the right to life? Is there seriously no reason to talk about such a prospect?
In fact, despite the fact that to some extent the entire world tries to use Bitcoin, it’s too early to talk about its mass introduction into the daily life of people.
As of today, there are two most significant obstacles:
• Low level of trust in crypto assets;
• Lack of legislation.
Both obstacles are closely related.
As soon as a cryptocurrency is officially recognized in a particular country, the level of confidence of the inhabitants of this country in it will increase. It will undoubtedly make UBQ wallet more popular. At the same time, governments will be ready to recognize cryptocurrency only when already a significant number of people within the country trust in cryptocurrency and actively use it.
In the end, mass implementation is possible only with mass recognition. As for mass recognition, at least, widespread popularity is required.
Of course, one shouldn’t maintain illusions, but there’s a reason to assume that, as in the case of the introduction of other innovative technologies, the popularity of cryptocurrencies will keep growing like a snowball.