2021 was the year that professional investors and institutions made crypto a mainstay of their portfolios. 2022 is shaping up to be the year that average consumers adapt to the revolution in blockchain-based currencies. Here’s why becoming crypto-savvy should be on the top of your list of New Year’s resolutions:
The number of crypto tokens isn’t the only thing that’s exploded this year. Accessibility to blockchain assets has made major strides. Exchanges like Binance, Coinbase and Crypto.com have become household names while new technologies like proof-of-stake have made transactions smoother and far more energy efficient. “Too difficult to trade” and “not eco-friendly enough” are no longer excuses.
Limited supply tokens are inflationary hedges
Walter Wriston, the legendary CEO who transformed Citibank from a Manhattan bank to a global financial powerhouse, was fond of saying that the only value of a currency was its scarcity. That’s why many tokens, including the granddaddy of them all, Bitcoin, have adapted limited supply models. Just like land, they’re not making any more of these so-called scarcity coins. Some, like Axia, even become rarer as their platforms become more active.
Major Corporations are accepting Crypto as Payment
Way back in February, Tesla CEO Elon Musk announced that the world’s pre-eminent EV-maker would accept Bitcoin as payment–and he backed it up with the purchase of $1.5 billion in the cryptocurrency. It hasn’t been a completely smooth ride since then, but Tesla now accepts Dogecoin as well. And plenty of other big companies are accepting crypto, from fintechs like Paypal and Square to Overstock, Newegg and Microsoft.
If you plan on playing in the virtual metaverse next year, you’ll need to have a virtual wallet handy.
Rewards Programs for Crypto
If you’re still hesitant to jump in, the easiest way to become part of the crypto revolution may be a rewards program. Several new platforms, including Rewards Bunny, as well as games like Axie Infinity, reward their participants with tokens when they shop or play, or even just browse. It’s a great way to get comfortable with crypto without putting up any cash but not missing the boat, either.