The crypto space has certainly seen a great deal of development, and retraction, in 2018. Now, its time to look ahead at some possible trends for 2019 that may help users gauge the viability of the cryptocurrency.
Four Crypto Trends Looking For Stardom In 2019
Here are four potential trends to watch out for:
Growth Of Bitcoin Compatible ATMs
Several cities in the United states have already started showing growth in bitcoin-compatible ATMs. For example, Chicago has 30 news machines and its total number of bitcoin machines is now at 100. The ATMs are responsible for dispensing bitcoin.
Further, New York has traditional ATMs that offer cryptocurrency, but first users must create an account with LibertyX, the bitcoin payment provider. Once the account has been approved, members can purchase a maximum of $3,000 worth of bitcoin on a daily basis by using their debit card at the ATM.
Increased Central Bank Involvement Concerning Bitcoin And Other Cryptos
Bitcoin can be used without having to open a bank account and one trend for 2019 may just be that banks will start getting into the cryptocurrency space so that they aren’t pushed out of the market.
Recently, Israel hosted a bitcoin summer and Nick Szabo discussed the reasons why he believes that countries will start using more cryptocurrencies, especially in areas of extreme conflict.
He also discussed his belief that central banks will use their bank reserves to supplement the cryptocurrencies.
As he explained,
“There’s going to be some situations where a central bank can’t trust a foreign central bank or government with their bonds, for example. One solution that’s been developed is to have the Swiss government hold it for you – that’s not a trust-minimized solution. The Swiss government itself is subject to political pressures, and so a more trust-minimized solution is cryptocurrency.”
Szabo is not the only one who has taken such a position. For example, Christine Lagarde of the International Monetary Fund discussed why central banks should use cryptocurrencies. This trend may just be starting as well – JPMorgan Chase recently announced that it will have its own cryptocurrency called the JPM Coin.
More Bitcoin-Centric Tourism
Bitcoin-centric tourism may just be taking off as well. In 2018, Germany’s Tourism Board started to accept bitcoin for its services, and it is not the only country to do so. For example, a beach town in Australian, Central Queensland, started to accept digital currencies from tourists.
Digital tourism may make things much easier for tourists, as they won’t need to visit currency exchanges any longer.
Smartphones Storing Bitcoin
Lastly, smartphones may just start storing bitcoin as well. For instance, HTC recently announced the release of its new phone, the Exodus 1, that has an in-built blockchain-focused mechanism and wallet. The phone can be purchased only with cryptocurrencies. Moreover, Samsung may also be getting into the space with its Galaxy S10, which may have a crypto software wallet through its trade marketed invention, called the Samsung Blockchain Key Store.
Four Crypto Trends In 2019 Conclusion
These are just four potential trends to look forward to and though whether they’ll truly take off is still unknown, based on how things are going, it seems quite possible.