Crypto is the next gold rush
Growing up in South Africa, there was much talk about the gold rush, everybody rushed to make their fortune. Since the rise of the Internet, we had the rush to do online Investing and Forex Trading. We are now seeing the rise in online Crypto Trading supported by traditional online Forex brokers as well a number of many new crypto exchanges and brokers.
I must admit it. I am a crypto sceptic. I have never traded or owned Bitcoin. To be blunt. It did not make economic sense. Well, I am compelled to change my outdated views.
Yes, crypto is the next gold rush. Just like you had the industrial revolution which empowered the commoner, the average person to become financially successful and impactful. The industrial revolution levelled the playing field. Crypto holds that same potential to empower anybody to benefit from this. To become financially independent and successful.
What we are seeing now is the crypto gold rush.
Let’s look at some of these drivers driving this.
Crypto as the new gold rush
Crypto platforms are registering the highest number of users and are expanding their user base. Recently, the market capitalization of the global crypto market has hit $3 trillion.
It is estimated that the number of crypto users is now in the region of 300m, and this number is growing.
Crypto as a means of payments and alternative to Fiat
The market is maturing from one of trading and speculation to one where cryptos are being for payments including micropayments. Crypto payments can help meet the needs of the world’s Unbanked -2 billion.
Many people are being attracted to cryptos and Crypto Banks as opposed to normal Banks as the benefits of keeping and using crypto instead, today you have the widespread of USDT as payment currency. This is linked to the US$ so there is no exchange risk.
Crypto as an Asset Class
Crypto is now emerging as an Asset Class and in 2021we saw the inclusion of institutional Investor Market. there are calls to include cryptos in the Investment Portfolio. These range from 1% to 15%. This will further drive the market.
Distrust of traditional Banking Systems
The opportunity for Crypto is further fueled by that people have distrust in the Banking system and in some cases, you have country risk. This can be an accident of birth if you were born in Syria, Iran or some country with political upheaval. WE just need at banking crises from the Lehman Brothers collapse, Lebanon or even Cyprus in which the Banks and the Government “stole” people’s money.
It is now meeting the needs of the unbanked.
NFT — non-fungible token
A non-fungible token is a unique and non-interchangeable unit of data stored on a digital ledger. NFTs can be associated with reproducible digital files such as photos, videos, and audio.
With this unique gaming model, which is geared to adults, participants are rewarded with cryptocurrency or NFTs just for playing games they would probably play for free.
Players will play games on platforms that allow for play-to-earn gaming, allowing users to build up a collection of “Coins” they can use across the company’s universe of games and marketplace.
Convergence of Cryptos and Gaming
One of the key trends is the convergence is crypto and gaming.
There are approx. 2m people are involved in online gaming and we can expect to see more players adopting Cryptos. This is now a major firm of leisure and entertainment with many players looking to play to earn.
Crypto Users — 300million
Gaming Plyers — 2 billion
Crypto will replace the use of credit cards which is prone to chargebacks, frauds, high transaction costs and rolling reserves. Indeed, the UK recently banned the use of credit cards for online gaming.
Technology is going to continue to change the landscape
We are now seeing the emergence of technologies such as Web.3 and the Metaverse which revolutionize the Internet. Hard to think that the internet needs to be revolutionized. Web3 and the Metaverse which will anyone to create and customize their own virtual space for every kind of social gathering online or online presence. In essence, this will enable any their own Data, marketing channel and not be at beckon call of Facebook and LinkedIn who can close your Account, destroy your business for some political or ideology reason.
https://joshbersin.com/2021/11/what-is-the-metaverse-and-how-microsoft-disney-and-amazon-could-win/
Affiliate Marketing
In essence, you always have had salesmen. Many industries were driven by the door to salesman. This all changed with the introduction of the Internet and will continue to change with
The rise of online businesses gave rise to affiliate marketing. You have today a sophisticated worldwide mechanism of people earning money by bringing others to invest, buy of play. Crypto is an extension of this and has many possibilities.
Accordingly, we are offering an affiliate and bonuses using cryptos and this Affiliate marketing will bring customers to Income and entertainment opportunities.
The rise of Central Bank Crypto Currencies (“CBCDs”)
In addition, you have the Central Bank Crypto Currencies (“CBCDs”). One such case is the Bahamas, and this opens up these Islands to banking and money transfer opportunities which previously not possible.We will look to adopt these CBCDs in our wallet which are a growing trend by the Nations issuing Digital coins.
https://www.linkedin.com/pulse/understanding-cbcds-central-bank-digital-currency-design-rogers/
Passive Income — Staking
Tin the last few years we have seen the active market of Crypto financing and lending Crypto you the ability to earn interest on USDT at approx. 9% per annum where there is no currency risk and other cryptos carry even higher interest rates. and there is emerging financial lending and arbitrage opportunity.
Let’s look at https://celsius.network/
AML Risk and Regulation
This is an ongoing area of discussion by regulators and there is much confusion on how to proceed. The UK FCA is still on the “Fence” and not issuing crypto AML Licenses.
On the other hand, you have a number of European Countries embracing Cryptos and issuing crypto licenses. One example is Portugal who now has a Crypto licensing regime and sees this as an opportunity to bring more business to the country. This trend will only continue.
Hence, this is a tremendous opportunity for an operator with higher risk tolerance levels.
Tokenomics
Does it make common sense to buy a Crypto without a solid economic case? You today have what is called Tokenomics which tries to underpin the underlying valuing of their coin. While many coins do not seem to have economic justification, there are many stable coins that are linked to the $ or have some underlying investment or business opportunity underpinning the value.
Tokenomics is one reason why are seeing an upward price trend.
Blockchain
The power of blockchain to transform the way Data is managed stored and shared is an area that is transforming the way we manage our eco Systems. Banks have already identified this and are creating a blockchain inter-banking system
Crypto Giving Tuesday
Following on from Black Friday, we now have Charities adopting Crypto Giving Tuesday. I was initially taken back this, but I guess this is another sign that crypto has become mainstream.
Why keep cash in your traditional bank?
The question we all need to ask ourselves is why still keep our cash in the bank where we earn no interest, pay high transaction and bank fees, where making transfers is cumbersome and prone to high AML concerns?
After reading what I wrote, I ask myself. How can I join in this is a gold rush? I feel like a bit of a fool for missing out on the party today. I was sceptical. Ok, maybe I did not want to speculate.
Many of these trends were highlighted in a webinar titled “Cryptocurrencies — The Year That Was: A Review of 2021 and the Outlook for 2022”
The BWP Coin wallet offering
We intend to position BWP Wallet as a strong player in emerging Crypto growth. BWP is positioning itself to take advantage of this emerging opportunity.
