Crypto on the Rise
Cryptocurrency Rises Faster than We Can Keep Up with, but What Does That Entail?
Recently, it seems like everything is going digital, and currency is no exception. Cryptocurrency is a form of anonymous digital money that isn’t centralized nor regulated, but is instead upheld on a user-to-user system called a blockchain.
As Bitcoin becomes increasingly popular, more people are seeking to claim chunks of its finite supply through a demanding process called mining. Because mining requires a serious amount of power, many argue that cryptocurrency is very damaging to the environment.
Some also claim that its value fluctuates around those that use it, making it unsustainable, unstable, and unpredictable.
Others, however, believe it’s the future of currency. Very recently, the country of El Salvador adopted Bitcoin as legal tender, with their goal being to reduce remittance fees and provide financial services to people without banking access.
Regardless of its pros and cons, cryptocurrency seems to continue to rise, and it’s impossible to be sure what role it will play in the future.
