Bitcoin Vs. Fed coin: What’s the Future
Understanding Bitcoins and Fed coins
Bitcoin is a digital currency introduced in January 2009 after the crash of the housing market. It followed Satoshi Nakamoto’s ideas that he had discussed earlier in a whitepaper.
A lot has been said and written about Bitcoins’ true founders, and its true origins remain a mystery. What’s more important than its history is what it offers.
The proponents of bitcoins believe that it is an amazing invention that will transform the economies by reducing transaction fees and getting rid of a centralized authority. In other words, unlike traditional government-issued currencies,
Bitcoins would not need the approval of or regulation by any government or state.
It is because of this reason that many anarchists in the United States have supported its use.
Unlike traditional currencies or gold reserves, bitcoin has no physical form. It is an electronic currency that anyone and everyone can access, invest in and use for transactions without any need to be issued by any banks or governments.
Many controversies followed these radical claims of the bitcoin proponents.
While some governments outright banned them, others kept silent. Regardless of legal issues and controversies, people started buying bitcoins before being declared legal tender.
Soon, many other virtual currencies were also introduced, and Fed coin is one of them.
What is the Situation in the U.S?
Despite the rising number of investors in cryptocurrencies worldwide, 90 percent of Americans have never owned bitcoin.
The claims of widespread adoption and usage of cryptocurrency in the U.S is nothing more than a dream in the current scenario.
According to experts, the crypto transformation that bitcoin promised will be triggered by Fed coins in the near future.
They suggest that introducing and adopting Fed coins will lead to the maturation of cryptocurrency in the near future.
With the return of former Federal Reserve Chair Janet Yellen as incoming U.S. Treasury secretary, we can expect a revolution and shift to digital currency in the U.S and the rest of the world.
Will Fed Coins Replace Bitcoins?
While some consider Fed coins and Bitcoins to be opponents, others have considered the former to be the best friend to the latter.
Since the U.S government and many other governments worldwide are considering introducing Fed coins, some experts believe that acceptance of digital currency at the government level will prove beneficial for bitcoins and other cryptocurrencies well.
Get in touch with us if you are confused about which cryptocurrency to invest in. Our financial advisors can guide you and introduce you to many other investment options to grow and protect your wealth.