The cryptocurrency industry likes to point the finger at banks, which face a long list of problems associated with digital currencies, including high transaction fees, centralized control, slow cross-border transfers and limited availability. But isn't it time to delve into some of the issues that prevent new users from investing in cryptocurrencies or using them for everyday transactions?
This is (paraphrased) the text that Janine Granger, founder and CEO of Easy Crypto, received from a friend recently after watching WTF Crypto: "I get it: crypto is amazing technology, and you tell me it's the easiest and easiest way to transact. ...but then you tell me to write and memorize or memorize 12 number sentences.This is pretty easy!
And it's wrong!
From another point of view, cryptocurrency presents significant barriers to entry, preventing potential investors and users from joining the digital currency revolution. and it's time to take care of it and make it a reality.
What are "Cryptocurrency Issues"?
Cryptocurrencies have certainly become the answer to many “banking problems”. It offers an alternative to traditional banking services, offering decentralization, lower transaction fees and faster cross-border transfers. But while this solves some of these longstanding problems, it also creates new problems known as "cryptocurrency problems."
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The two most important are instability and complexity. The price of cryptocurrencies and digital assets can change dramatically in short periods of time, challenging real-world use cases and widespread adoption. Also, managing different coins, understanding multiple blocks, and solving complex digital wallet problems can feel like navigating a maze without a map.
Ease the "ramp".
The good news is that industry innovators are making significant efforts to enable a smoother cryptocurrency transition, and these innovations are helping to overcome initial fears and provide a clear path to everyday use. Cryptocurrencies
Stablecoins: the ideal solution
The first of these are stablecoins, a category of cryptocurrencies backed by monetary reserves such as fiat currencies or precious metals. They have gained popularity for their ability to combine fast transaction processing, security and strong cryptographic functions with the reliability of the underlying asset.
Stablecoins offer a solution to the problem of volatility, as these digital assets are "pegged" to traditional currencies such as the US dollar (or, in the case of the NZDD, the New Zealand dollar) and are designed to maintain a stable exchange rate. the value Stablecoins bridge the gap between the worlds of cryptocurrency and fiat and provide a solid foundation for entering the cryptocurrency market. They also make it easy to send money abroad - they are available 24/7, faster than banks and cheaper than money changers/money transfer companies.
Intuitive Wallets: A Simplified Approach to Cryptocurrency Management
Then we move on to safely storing your cryptocurrencies. Crypto wallets have also made great strides in solving the complexity problem. Managing your cryptocurrency doesn't have to be scary; And you certainly don't need a collection of different wallets.
For new and experienced cryptocurrency users, there is a new generation of intuitive wallets that make managing your cryptocurrency and tokens easy. They allow users to buy, sell and store digital assets easily, securely and affordably - with unlimited additional wallets, multiple blockchains and a wide range of coins backed by industry-leading security - all in one simple app.
Plus, worrying about losing your keys (your 12-word "seed phrases") is a thing of the past thanks to industry-leading security and recovery features. In some cases, your family and friends become your advocates instead of typing or memorizing input phrases or number keys.
Importantly, these wallets are self-hosted (retrievable), meaning users store coins instead of exchanging them as if they were using their traditional wallet!
It is critical for the industry to not only address the long-standing issues surrounding traditional banking, but also to encourage the adoption of cryptocurrencies while continuing to break down barriers. With innovations like stablecoins and convenient wallets, the future of cryptocurrencies looks much more inclusive.
Warning: Cryptocurrencies are volatile, involve risks and may fluctuate in value. Past performance is no guarantee of future results. Please do your research.
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