Introduction to Cryptocurrency: The Beginning of the End or a New Era?

We are all witnessing, at least those of us who follow the cryptocurrency market, of events that have taken place over the past 6 months. For those who don’t know, take a look at the previous article to make it clearer. For those of us who follow, finally a little more joyful news, the market is slowly climbing, slowly, but again we are on an upward trajectory. Some of us have suffered bigger losses, some less, while some have nothing, and some have seen an opportunity and earned.

Will Q3 and 4 bring us some good news in terms of an even bigger increase in cryptocurrencies? Let’s go like this first, the summer season, we are all hot, we are looking for a vacation, a little rest, a little sea, a little fun and relaxation. We worked all year, some saving and investing, and even managed to extract some tiny profits in cryptocurrencies. Of course we’re going to sell something a little bit so we can enjoy ourselves. How many people think like that? There are a lot of them and it’s nothing wrong, but accordingly the price of currencies collapses. You’re probably wondering, just a moment, if that’s true, if investors are pulling out certain cryptocurrencies, that is, selling them, how is it possible for the market to grow? It’s true, there are a lot of small fish, but our stakes aren’t as big as big fish. The world’s big investors are investing millions of dollars/euros to reboot the market. Of course, they do not do it out of the goodness of their hearts, but try to regain their roles, and for this they have to restart the big wheel to spin, which in this case is the crypto market.

With the fall of the crypto market, some new currencies have been created, which I will leave to you to do a little research, take a look, maybe find something interesting. Now let’s take a look at the virtual world of cryptocurrencies.

Payment of salary in cryptocurrencies can be mutualbenefit, but also a loss

Overall, 5% of salaries were paid in cryptocurrencies, to people who perform certain self-employment or by the definition of their labor contracts indicated that they wanted this type of payment, and 2% in the same period in 2021. Which is very favorable for companies in terms of payment methods, which allows employment and payment of people in more than 150 countries around the world. That’s why in South America, 2/3 of investments are withdrawn from the crypto market. Workers are demanding that their salaries be paid in cryptocurrencies despite a $2 trillion market crash. Cryptocurrencies have proven to be a lifestyle in volatile South American countries, such as Brazil, Argentina and Venezuela, and is the most popular way to pay wages for workers under the age of 35. This kind of payment was also accepted by North America, where several successful rugby players, as well as the mayors of New York and Miami, were paid in cryptocurrencies at their request.

Let’s analyze that a little bit. Payment of salary in cryptocurrencies can be a mutual benefit, but also a loss. If your employer pays you xy XRP, at a given time it is equivalent to your salary, but in 24 hours it can be 10-20% less or higher. Which is of course a risk to yourself and pray that it does not fall, possibly remain the same or increase. You don’t need that kind of stress. If we look at it as a second source of income then it can stand and you can dispose of it when you feel like it. Of course, this will be a great way for successful sports players and mayors to pay because they have higher salaries, where they can live for several months with a one-year salary, again depending on their life needs, but the payments that are made in cryptocurrencies can be put aside and wait for a favorable period for their sale.

We can notice that some stores in Croatia, and there and throughout Europe, approve payments with cryptocurrencies. Does this mean that this method of payment will take over the classic payment? Maybe, depending on demand. This is certainly favorable for large chain stores that have a larger stock of money. Let me explain. Stores with higher capital can always invest that capital, be it in new goods, stocks, cryptocurrencies, assets or something similar, but it’s not a matter of stakes, the secret is that they with their capital can always buy the next shipment of goods and not be financially damaged, while all purchases paid for by cryptocurrencies can leave intact, let go until the moment that suits them or until the cryptocurrency rises to the desired price. So they didn’t earn 100% but 200% with one of your purchases, Smart Business. Looking from the other side it is again risky in terms of a sharp decline, such as the fall of the crypto market which affected everyone. Which, as a rule, can always happen, in any financial market.

Will the crypto market revive again?

In my opinion, it will. It will take time, effort and stakes to rise again, but it will succeed. Everyone is currently skeptical, afraid and understandable, but there are people who want to return this market to the old or new glory. We may not have millions like them, but our 50, 100, 200 kuna means something (soon euros). Likewise before the market crash, the European Union was on a project to soon launch its cryptocurrency EU, the basis of which would be the euro itself. Sounds interesting, doesn’t it? Thus proving that this method of payment, trading certainly has a chance in the world, and it is also possible to become the first international currency accepted everywhere. We have to look to the future and make it as good as we can with a concerted effort because certainly the world’s powers will not help us, but it is enough of us that we can still make a difference.