The list of common setbacks to Bitcoin making it mainstream continues…
High Barrier of Entry
What’s the entry barrier about? For one, the process of investing in digital currencies seems complicated. This is particularly true for those who haven’t heard of it previously. Sure, it gets worse in parts of the world, where a sizable population is not computer literate. In that case, these people are clueless as to where to start from. Not to mention that the idea of keeping records of many accounts seems way too intimidating. These are quite entrenching setbacks to easily overcome.
Make no mistake about it, one of the biggest setbacks militating against BTC is a liquidity problem. Indeed, it is the required element for any market to become lucrative. Lack of liquidity clearly signals lack of control. Additionally, many people don’t want to go cash-strapped if something goes wrong. Interestingly, many exchanges, including Bitfinex, have experienced it in the past.
Tackling the Barriers Head-on
A countless number of cryptocurrency firms have made entry into the crypto-sphere. Some of them make effort to see to it that they dismantle the setbacks that are being highlighted. Let’s look at them one after another.
Basically, Elephant is around the crypto ecosystem trying to bridge a critical gap. The crypto firm is introducing new blockchain apps to the secondary markets. On the Elephant platform, investors are encouraged to invest in more stable investments tied to real-world assets. True, Elephant lowers the barriers for investors by exposing them to real-world pre-IPO private firms. Some notable pre-IPO firms include BlaBlaCar and IronSource. Interestingly, their shares in 20 firms are worth over $70M USD. Speaking of their registered investors, they currently number over 2,000, which is a solid start to eliminate BTC setbacks.
Also, Blox is a company making efforts to pull down the barriers for newbie investors. As an asset management portfolio platform, Blox is doing a great job in the industry. The objective of Blox is clear: sync all exchanges and wallets into a single account. With their native token CDT, users can track their portfolios. Again, CDT is tradable and offers premium features to boot.
Virtual Currency Is on the Verge of Making It Mainstream
True, a lot of innovation and creativity have gone into the blockchain industry in the past two years. Despite that, it appears as though the industry still has a long way to go, but that’s not true. With more companies moving into the industry to solve its problems, the future is bright. Rumors have it that the world’s renowned retailer, Amazon, will join the industry. Nonetheless, Amazon is yet to confirm the rumors.
However, they have already acquired AmazonCryptocurrency[dot]com, AmazonEthereum[dot]com, and AmazonCryptocurrencies.com. These are clear indications that official statements could surely come out soon. When Amazon eventually makes this triumphant entry into the cryptocurrency world, it will be a major breaking point in eliminating setbacks. No doubt, the industry will have a brand new look.
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