A handful of Londoners have been keeping track of cryptocurrencies since Bitcoin first emerged as a digital token in 2009.
However, the vast majority of consumers were relatively unaware of the blockchain until relatively recently.
Things have certainly changed over the past few years.
It seems as if cryptocurrencies are being mentioned on a daily basis, and we are not only referring to one-off investments in this sense.
This ecosystem has begun to offer a host of practical solutions, and we have only begun to obtain a glimpse of what the future has in store.
Let’s examine how the crypto community is slated to affect life as we know it for people in London and throughout the United Kingdom.
From innovation to mainstream reality
A small number of pioneering payment provider firms such as Mountain Wolf had the foresight to appreciate the role of cryptocurrencies at an early stage.
They understood that modern consumers were keen to leverage the latest digital payment options.
So, it was only a matter of time before real-world solutions would present themselves.
One recent advancement comes in the form of prepaid Web3 cryptocurrency cards that can be used much like generic credit cards.
However, there are some notable differences:
- These cards can be used for both fiat and crypto transactions.
- A daily POS spending limit of $10.000
- They are available in both physical and virtual form.
- Apple Pay and Google Pay are included as integrated payment options.
In other words, it is just as easy for Londoners to pay for goods and services with tokens such as Bitcoin and Ethereum as it is to execute a traditional credit card transaction.
Online entertainment
Not withstanding practical everyday applications, cryptocurrencies have become equally popular throughout the iGaming community.
A growing number of online casinos now offer crypto-friendly payment options.
Sometimes referred to as “hybrid” casinos, Londoners can choose from specific tokens when making deposits, confirming withdrawals, and accessing their favourite games.
Safe and secure
Cybersecurity is no laughing matter, and threats continue to emerge.
From visa application data breaches to the theft of personal information as the result of phishing, consumers are understandably concerned.
Cryptocurrencies are able to circumvent many of these scenarios due to their decentralised (and yet transparent) nature.
Superior levels of end-to-end encryption likewise provide an additional firewall that can help to thwart many digital dangers for London residents.
Long-term investment opportunities
Even major tokens such as Bitcoin have been known for their short-term volatility.
The good news is that traders are still confident that stablecoins can represent excellent longitudinal investments.
This is why crypto assets are often present alongside other well-known portfolio assets including treasuries, CFDs, blue-chip stocks, and commodities.
Some even feel that cryptocurrencies may soon supersede other options such as Forex trades in terms of sheer popularity.
These are some of the reasons why Londoners should expect cryptocurrencies to feature prominently within many UK-based news articles in the coming years.
Even if you are not interested in trading these tokens, it is still impossible to deny their influence.
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