Cryptocurrency is reaching its new high. As per the marketersmedia.com, Bitcoin traders have managed to get a considerable amount with the help of the increasing value price of Bitcoin and other Cryptocurrencies. Along with some big institutional recognitions, the Cryptocurrency market is also attracting the eyes of Wall Street. There are many more to discover. And we will discover them here.
5 Reasons Why Wall Street Is Interested in Cryptocurrencies
Here are the top five reasons that are responsible for driving the interest of Wall Street in the Cryptocurrency market.
The transparency that the Cryptocurrency network offers is one of the reasons why wall street is showing its interest in the Crypto market. The transactions that are performed in a blockchain can be seen by all the members who are present at the network. Blockchain technology makes the transaction transparent.
Each time any transaction is made, it gets recorded, and a copy of the transaction is saved in a block on the blockchain. One can take a look at the data at any time. More transparency means more trust. When you are able to check all the pieces of transaction data with more transparency, it will automatically increase your trust in the system or network.
2. 24/7 Accessibility
The accessibility that Cryptocurrency offers all the time, i.e., 24/7, is another reason behind the popularity of Cryptocurrencies. You can make payments and also receive Cryptocurrencies at any time you want. And the best thing is that you don’t need to have a computer all the time, you want to make a transaction. You can do it only by using your mobile with minimal technical knowledge.
So, even though you are not so good with technologies, Cryptocurrency offers you easy 24/7 accessibility. More accessibility welcomes more popularity. It practically means that it does not matter what the time is and where you are. If you have your mobile phone with you and have an internet connection on it, you will get access to your Crypto account.
3. Full Anonymity
The anonymity of Cryptocurrency offers an added benefit to the network. There are some people who feel insecure while handling too much digital data. They are also the people who value their online privacy the most.
The anonymity that it offers helps those people to keep their identity a secret and offers great security to their digital data. One can send a vast amount to any part of the world without disclosing their identity. Anonymity also offers a different type of security to the person who is making the transaction or participating in the transactions.
The anonymity offers a wider range of security. The open-source ledger or Blockchain technology that is used in the Cryptocurrency networks is too secure to be hacked. Each member of the network has a public key and a private key.
And the private key is only for your personal purpose. You need to keep it a secret. This decentralized system is too hard to hack. The transparency that it offers also enhances its security and makes it popular amongst investors.
5. Faster Process
The transaction process of a Cryptocurrency network is much faster than any other traditional transaction that is provided by banks or other financial institutions. Cryptocurrency also makes the cross-border transactions faster and cheaper.
In case you want to make the transaction faster in no time, you just need to pay a small amount of the transaction fee. Cryptocurrency has changed the traditional way of transaction with its advanced technology. It saves a lot of time and gives wall street more time to invest in their stock market.
With the rise of Bitcoin value price and the overall decently good performance of the Cryptocurrency market, Wall Street is showing its active interest in the Crypto industry. All the factors that are discussed earlier are driving the interest of wall street towards Cryptocurrencies.