If the last two years are any indication, it’s safe to say that it will be pretty difficult to make any safe predictions for 2022 regarding, well, anything. However, here are some questions people are asking about cryptocurrency and its growth for this year.
Will more Countries make Bitcoin a National Currency?
Of course! In fact, some countries such as El Salvador have already made the decision to do exactly this. It won’t be the only currency, though: the U.S. dollar, which the country used previously, will still be available as an alternative. Some countries are on the fence about it, with legislators going back and forth with valid arguments about the coin’s stability. However, it seems like more countries, especially those in Latin America, are looking towards cryptocurrency as a national currency.
Will Amazon finally embrace Cryptocurrency?
It looks like Amazon will finally join the cryptocurrency wave, although the exact month hasn’t been announced yet. With reports of the company ready to launch its own crypto token in 2022, investors are ready, even though there are no details available to the public right now. The plan is still in the early stages, although we can assume that consumers will be able to use the coin (and possibly other coins as long as their wallet is compatible) in order to make purchases on the site.
Will Crypto Tokens Become Standard for Sports Fans?
Fan tokens are a way for sports fans to support their favorite teams using cryptocurrency. It’s a great way to help teams build revenue (especially since many players have gotten pay cuts due to the pandemic and the reduced number of games over these two years). This idea was brought into mainstream focus by Socios, which now supports tokens relating to numerous major sports franchises around the world. The teams that have tokens offer various rewards to token holders as well, such as influence in some of the decisions the team makes. Apart from this, token holders can also buy and sell their tokens much like NFTs in the marketplace.
Will a major Food Retailer get on Board?
Cryptocurrency still hasn’t been accepted as a form of payment for most food retailers, but plans are in the works. Other countries such as Croatia have begun to implement crypto as payment, and the trend is expected to spread throughout the country. In the meantime, check your favorite stores to see if they have crypto payment processing systems in place and if your crypto wallet is compatible with it.
Will Cryptocurrency Become (More) Regulated?
Yes. As the crypto market becomes more lucrative for investors, governments will start to regulate them. At the moment, cryptocurrency is subject to income tax and capital gains tax (depending on how long each asset has been held) in the U.S. However, stablecoins – cryptocoins that are backed by governments with either fiat currency such as U.S. dollars, or gold, are currently not regulated according to the U.S. Treasury report from November 2021. There have been calls for regulation, but again: legislators haven’t been able to agree on how.
Cryptocurrency has a way to go, but the progress blockchain has made over the last few years (and months) is incredible. Visit ScrollTrendy again for any updates regarding Bitcoin and other cryptocurrencies.