The Technology That Could See Cryptocurrencies Become More Commonplace
Could 2019 by the year in which cryptocurrencies finally go fully mainstream? There has been a lot of talk about these virtual coins lately but the fact remains that, at the end of 2017, around 40% of the Bitcoin currency around was still held by around just 1,000 people, and there is little to suggest that this has changed significantly.
The arrival of new altcoins such as Litecoin, Dash and Nano have given investors the chance to choose the type of currency that suits them before it becomes too expensive to become a sensible investment. Yet, could it be that it is new technology that helps to push the cryptocurrency market forward in the next few months?
More Bitcoin ATMs
One of the big issues for many people is that of how to spend their virtual coins. The fact that they can’t do this very easily may be off-putting. In this sense, the appearance of Bitcoin ATMs all over the planet has been very welcome. Now, Bitcoin owners can easily and quickly access their money pretty much anywhere they go.
The move to allow Coinstar kiosks across the US to carry out Bitcoin transactions is a sign of how this trend has really grown. This is leading to the hope that, before long, owning and using Bitcoin will be seen to be as normal and hassle-free as owning any type of fiat currency.
Cards That Make It Simple to Spend
What is the next step in using digital currencies as an everyday option? Following on from the Bitcoin ATMs, it could be that cards allowing us to spend cryptocurrencies wherever we go is the next major advance. This would help to blur the lines between these coins and fiat money, making them appear more accessible to everyone.
A good example of how this could happen comes with the Wirex card. This company is regarded as being the first to provide the all-important bridge between cryptocurrencies and traditional money. It is one of many cryptocurrency exchanges that offer a range of currencies but they take it a step further with their real-world, Visa-backed card.
A Phone That Includes a Crypto Wallet
Recent reports suggest that the upcoming Samsung Galaxy S10 could host a range of Blockchain-related features, including a wallet for storing digital coins in. This follows on from the company registering a trademark for their Blockchain Keystore, which appears to include an app for use with mobile devices. Leaked images of the follow-up to the Samsung Galaxy S9 show an app with this name on it.
The image shows Ethereum being stored there. However, it is believed that it will also be possible to use to use the likes of Bitcoin and Bitcoin Cash with it. There are also suggestions that it will be easy to import cryptocurrencies from the user’s existing crypto wallet too.
Each of these possible changes could be the catalyst needed for more people to view cryptocurrencies as a valid option. Of course, it is also highly likely that other exciting new technologies get unveiled throughout the year.