BFG Token

<p>Cryptocurrencies have been a hot topic in the financial world for the last decade. From the advent of Bitcoin and Altcoins, cryptocurrencies have disrupted the traditional financial system and become now legitimate assets. Thus, let&#39;s consider all the points of influence of crypto on the global market.</p><h3 id="decentralization-as-an-alternative-to-traditions">Decentralization as an alternative to traditions</h3><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/d179713de0404f1990c4603a0337fb38.png" /><p>One of the key ways that cryptocurrencies affect the global market is through their decentralized nature. Unlike traditional currencies, which are controlled by central authorities such as governments or central banks, cryptocurrencies operate on a decentralized network where transactions are recorded on a public ledger known as the blockchain. This eliminates the need for intermediaries, reducing costs and increasing the speed and efficiency of transactions.</p><p>Therefore, cryptocurrencies have the potential to displace traditional financial systems and disrupt traditional financial institutions, such as banks and payment processors! Although, till then, there is a long and exciting way to go.</p><h3 id="crypto-immunity-to-inflation-and-devaluation">Crypto immunity to inflation and devaluation</h3><p>Another way that cryptocurrencies affect the global market is through their impact on inflation and currency devaluation. Cryptocurrencies are designed to have a limited supply, with most having a cap on the total number of coins that can be mined. It helps to prevent the inflation that often occurs with traditional currencies, as the central bank can print more money to meet economic needs. In addition, cryptocurrencies are not tied to any physical assets, which makes them less susceptible to currency devaluation caused by economic or political events.</p><p>This shows another advantage of cryptocurrencies, which creates even more pressure for an alternative view of the existing system, so cryptocurrency is good for the economy.</p><h3 id="relevance-and-multifunctionality">Relevance and multifunctionality</h3><p>In recent years, cryptocurrency has also gained a reputation as an investment and trading tool. The high volatility of cryptocurrencies has attracted a new generation of investors and traders who seek high returns and are willing to take on higher levels of risk. As a result, the cryptocurrency market has become highly liquid and active, with billions of dollars traded daily.</p><p>Besides, do not forget about the possibilities of digital coins and tokens. The ability to trade and pay for any service is only part of the potential of crypto. A striking example is NFT art, or gambling, where millions of people play online casinos using various tokens. On BetFury, you can play <a href="https://betfury.io/casino" rel="noopener noreferrer nofollow">8 000&#43; Games</a> with top currencies, receive Bonuses, Free Spins, and use a unique <a href="https://betfury.io/about-bfg" rel="noopener noreferrer nofollow">BFG token</a> for this. It’s a proof of crypto multifunctionality, isn’t it?</p><p>This is the third moment of influence on people&#39;s choice in favor of cryptocurrencies – that is, relevance, fashion, and a huge number of opportunities.</p><h3 id="crypto-penetration-and-territory-seizure">Crypto penetration and territory seizure</h3><p>Having analyzed the 3 main levers of the pressure of the new crypto technology on economics and considering a few facts, we can conclude:</p><ul><li><strong>Progress is visible</strong></li></ul><p>Crypto economy and financial markets will begin to penetrate each other. Tokenized traditional stocks are already appearing on crypto exchanges, and stocks of crypto companies and funds investing in cryptocurrency stock markets are already appearing on traditional exchanges.</p><ul><li><strong>New technologies are interesting</strong></li></ul><p>Some countries have already introduced crypto as an official legalized asset. As they say, it&#39;s a start. It remains only to wait for the approval of other countries before cryptocurrency becomes the new money everywhere.</p><ul><li><strong>The States are in no hurry</strong></li></ul><p>Many countries are accustomed to traditional systems, they are happy with everything that is. The process of introducing cryptocurrencies like Tether in official sources from the financial council in countries such as the United States is now slow and rather experimental. After a while, we will be able to return to this issue.</p><h3 id="strong-appointment-problems-and-future-hopes-strong"><strong>Appointment problems and future hopes</strong></h3><p>It is worth noting that cryptocurrencies are not without risks and problems. One of the main problems is the lack of regulation in the cryptocurrency market, which has led to the growth of fraud and scams. In addition, cryptocurrencies are not backed by any physical assets or government guarantees, which sometimes makes them unstable. Finally, the technology behind cryptocurrencies is still in its early stages and rapidly evolving, making it difficult for regulators and investors to fully understand the risks and potential benefits of this new financial technology. Thus, if new technologies overturn existing systems, could the rising crypto trigger a global financial crisis because of these problems?</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/16f50d7282684d75a041dbda8c4ad5ec.png" /><p>Despite everything, the above nuances are likely to be corrected in the future and security will prevail everywhere. We can see that the pros of traditional fiat fill the cons of crypto. That is, the traditional financial market and cryptocurrencies have a lot to learn from each other, and maybe even merge into one new and ideal system...</p><p>In conclusion, crypto is becoming more and more popular, but fiat is not losing ground either. The financial world is changeable because until recently people kept cash and did not think that the era of bank cards would come. That is why serious changes are waiting for us soon – the main thing is that they are for the good!</p><p></p>

How does Crypto affect the World Financial Market?

Table of Contents

betfury_gaming

Other articles published on Feb 20, 2023

AI and DAO: Designing New Patterns for a Better Future

Case Study: How ApolloX DEX Engine helped Palmswap streamline its product development process

The Next Cosmos? A Brief Review of ICON

DeFi Planet Weekly Round-Up #39 | Crypto Pump and Dump: Don't Get Dumped!

Terra's UST Peg Was Artificial, Not Algorithmic?

Today in Crypto: ‘Many Existing Stablecoins Would Not Meet Coming Standards’, Fireblocks to Launc...

Join our free newsletter for daily crypto updates!