In the past, at the time, the world of cryptocurrencies was seen as fraudulent and a market with no intrinsic value. Who knew the story would take a 360 degree turn and let us talk about how, when and how much to invest in cryptocurrencies like never before? Today, investing in cryptocurrencies is not only limited to large companies, but also to retail investors. Companies taking initiatives to align their operations with the crypto industry is no big surprise. This, ultimately, has become a major contributor to the growing digital economy.

Although many people around the world are quite familiar with the concept of cryptocurrencies, at least to some extent, what is worth noting is the fact that cryptocurrency and blockchain technologies were a niche. relatively small and sophisticated technology industry over a decade ago. Lack of understanding has always been a concern. On top of that, governments and financial regulators haven’t been so welcoming to the crypto industry. Consider – India. In India, the entire banking industry as well as companies under the jurisdiction of the Reserve Bank of India have been strictly prohibited from interacting with crypto technology. While the Supreme Court had to step in and see if overturning this ban could be done, there is still a lot of speculation that the government may be considering an outright ban on cryptocurrencies. But, as nothing is certain, businesses and retail investors have no choice but to wait for the final decision.

During this time, little has been said about how the crypto industry facilitates seamless cross-border money transfers, solves the inflation problem, or helps root out corruption. All of this paved the way for the hypothesis that cryptocurrencies are bad. However, the situation seems to have changed dramatically. What we are seeing today is how businesses are exploring ways to embrace cryptocurrencies. Many companies and startups have accepted the efficiency that cryptocurrencies bring to the business. Over the past two years, industry players like MasterCard, Visa, and PayPal have spared no effort to embrace crypto by allowing their customers to buy crypto and engage with other services. of crypto like paying with crypto through their systems. On the other hand, we are seeing many organizations taking steps to highlight the benefits that various companies and investors can derive from the cryptocurrency market. They have taken a step forward by providing step-by-step tutorials on how individuals and businesses can start investing in cryptocurrencies.

What has been gratifying is that many regulators have become relatively lenient. For example, in India, where the RBI had banned cryptocurrencies, speculation about the creation of a central bank digital currency (CBDC) for the Republic of India is a silver lining. Globally, too, there is a positive vibe about this. Businesses around the world have come to realize the need to integrate cryptocurrency and its underlying technology into their operations and are still exploring ways to best use this technology for maximum benefit. Therefore, looking forward to seeing multiple companies launch different crypto-related programs, report crypto investments on their balance sheets, and start processing crypto payments for goods and services would not be at all surprising. In the coming days, we can expect investment firms to launch more crypto-themed products and banks to expand their partnerships with reputable crypto exchanges. Overall, the crypto market has a lot to offer in the days to come.

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