Cryptocurrency has evolved from what was considered a one-time trend to a serious financial instrument in a short period of time. Mainstream financial institutions and several countries now recognize cryptocurrency and take it more seriously. At the same time, more people are using cryptocurrencies either for transactional purposes or as ways to invest.
From recent developments alone, it is easy to see how cryptocurrency is only getting bigger in 2019. Some trends are already shaping up to be very exciting. Here are the exciting developments and trends that you can expect from cryptocurrency in 2019.
Shift Towards Decentralized Exchanges
While cryptocurrency itself is decentralized, the exchanges we know and use today remain heavily centralized. Trades are being made through certain exchanges and they are beginning to show signs of strains as the transaction volume increases rapidly. Further decentralization is the key and changes are being made as we speak.
Expect to see more decentralized exchanges, also known as DEXs, in 2019. The move towards DEXs require a better and more robust cryptocurrency environment, but we are getting there sooner than even experts could anticipate. With DEXs becoming more available, trades are made more secure and faster while users gain more control over their transactions.
More Security Tokens
Tokens have been causing a lot of excitement in 2018, but the increasing number of tokens and ICOs certainly makes investing in the right one more challenging. You will find launching your own coin and ICO easier, especially now that there are more ICO services to use. If you want to get more exposure for your new ICO, for instance, you can try a cryptocurrency press release service to get the words out to the right audience.
Security tokens will certainly make the whole landscape even more appealing to investors. SEC recently announced possible plans to consider some tokens as security tokens, elevating their status to a whole new level. This could create the next big cryptocurrency rush in 2019.
On top of security tokens, we also have moves made by banks and mainstream financial institutions shaping the cryptocurrency trends further. Entities like the Ripple Foundation are trying to get banks to use blockchain in their operations, and more banks are joining in as we speak.
Cryptocurrency for Transactions
Bitcoin started life as a currency that users can use to make payments and transact. That basic idea was lost when the value of Bitcoin and other cryptocurrencies soared due to high demand. Using Bitcoin for transactional purposes isn’t always possible when you consider the market volatility of the coin, and other cryptocurrencies are hampered by the same thing.
Expect to see more practical usages of cryptocurrencies in 2019. A lot of coins are stabilizing and attracting more users at the same time. The combination is perfect for bringing cryptocurrency back to its transactional roots.
At the same time, we have retailers and businesses opening up to blockchain and cryptocurrency as the market settles down. We were already very excited when Microsoft, International Exchange (ICE), and Starbucks announced plans to use cryptocurrency in strategic ways, but more partnerships will be formed and announced in 2019.
Reshaped Cryptocurrency Landscape
Speaking about the cryptocurrency market settling down, 2019 is definitely the year of the improved market structure. We now have several coins being recognized as the most volatile, making them perfect for investments.
There are also several cryptocurrencies that are filling demands for blockchain-based transactions, complete with instant transactions and incredibly low fees. The market is finding its best form and we are getting closer to a reshaped landscape that meets users’ expectations.
When that balance is achieved, things will develop at an even faster rate than it is right now. More retailers will adopt cryptocurrency payments, investors will have more crypto instruments to use, and more users will experience the excitement of using coins for various purposes. 2019 will be an exciting year for cryptocurrency indeed.