Cryptocurrrencies have erupted in the financial market with quite a boom. The possibilities that cryptos offer to the world of digital payment cannot be denied at all. But do cryptos possess the potential to go mainstream in the financial market? Crypterium’s Head of Marketing and Communications, Siranush Sharoyan surely seems to think so.
Talking to BlockPublisher, Siranush stated:
We believe that crypto has the potential to go mainstream within the next two or three years. There might be six or seven million cryptocurrency holders, but we can see that there will be hundreds of millions of consumers in the next five or ten years.
The potential possessed by the crypto world of transcending the boundaries defined by traditional fiat currencies make them the most attractive. As compared to the national span of fiat currencies, cryptos can be used to develop a global financial framework of digital payments. Global customer base can be made by different institutions if cryptos are used and handled properly.
Siranush further added:
The emerging marketplace is a real opportunity for us to build a global customer base. And what is the most exciting is that we are able to serve those customers from the very beginning of the crypto adoption.
Cryptocurrencies do possess the potential to overtake the financial market in the future. But as of now, with all the issues that are linked with this world, things do seem quite difficult for crypto market. Issues like the prevalence of illegal and manipulative activities, volatility, lack of regulation etc. make it difficult for the investors and the general public to enter this market. But if developments are made in the right direction, with crypto-linked exchange traded-funds and platforms like Bakkt established, cryptos might go mainstream in the coming future.
Another factor upon which the financial success of the crypto market depends is the acceptance by people. As of now, people mostly focus on using cryptos for gaining profits in fiat. In order for this market mature and go mainstream, people need to consider cryptos as currencies, instead of just considering them a source of gaining profit.
Talking to BlockPublisher, a core member in the Verge currency team, Swen van Zanten recently stated:
Everyone is trying to make fiat out of there crypto. Which is fine by me. Only way to stop that is people really use crypto as currencies instead of “crypto”. If you buy crypto now “you might loose it”… which isn’t true. The value compared to that fiat only changes.
With all the developments being made in the crypto world, it sure seems that this market has the potential to go mainstream if all the pieces fall into just the right place at just the right time.