TechDogs-"5 Cryptocurrency Trends To Look For In 2021"

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5 Cryptocurrency Trends To Look For In 2021

By TechDogs Editorial Team

TechDogs
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Overview

Men of mystery like Mr. John Wick don't want a lot of eyes on them and want to be paid in the currency of the future. That's right, the next chapter of John Wick is here and he's getting a little help from his friends. Check out how the number 1 bad boy in the world gets paid.

Cryptocurrency is going to see some trends in 2021 that will seriously impact its future. Being in the know is half the battle (probably more than half). So, hop on the cryptocurrency #trends wagon and learn how to maneuver the cryptocurrency market like John Wick dodges bullets!
TechDogs-Welcome To Crypto Continental-"5 Cryptocurrency Trends To Look For In 2021"
Cryptocurrency is the shiny new toy of the blockchain world that everyone is talking about - from the worried governments of the world trying to get a piece of the rising technology to Elon Musk "The God father" of Dogecoin (yup, it's real). The global surge in the adoption and institutionalization of the blockchain industry has put it on a fast track with more substantial growth predicted in 2021.

John Wick relies on cryptocurrency and crypto mining and wants to know what trends will affect it in 2021. You have been chosen to be the newest bad boy in the underworld to track the latest trends in cryptocurrency for 2021. Are you ready to partner up with Baba Yaga himself and find out the progress that blockchain technology has made since 2020, if DeFi will finally succeed in establishing its authority and will 5G technology finally hit the big crypto market and most importantly, will cryptocurrency be taxable now? John Wich won't like that very much, will he?

Without further ado, here are five trends to look out for in the year ahead.
 

Trend 1: Unprecedented Growth Of Blockchain Technology


TechDogs-Trend 1: Unprecedented Growth Of "Blockchain Technology"-Image Of "Bitcoin" Growth Graph Chart Concept
Blockchain technology is the network that underlies cryptocurrency as a whole. It's a system that records information where cheating, hacking, or changing the system data is virtually impossible. It's based in the cloud, where it's able to store this massive amount of data.

Trade markets and financial services markets are adopting Blockchain technology quickly. Some of the markets that will be heavily affected by this are trade, identity and financial services. According to a Mordor Intelligence's Cryptocurrency market growth, trends, and forecast study, the banking sector will lead global blockchain investment, followed by separate manufacturing and process manufacturing, with a cumulative market capitalization share of around 50% of total spending.

So, what can you expect to see?

TechDogs' Opinion: The COVID-19 pandemic accelerated digital transformation in many domains through the use of blockchain technology. In 2021, The United States will lead the way in Blockchain solution spending and we can also expect to see China and Western Europe following right behind.
 

Trend 2: Make Way For Decentralized Finance


TechDogs-Trend 2: "Decentralized Finance"-Image Of Bitcoin Growth Graph Chart Concept
Now it's time to talk about DeFi. You may be asking, "DeFi?

Mr. Wick, are you talking about music like Lo-Fi and Hi-Fi?"

Heck no!

DeFi stands for decentralized finance. It's a movement that enables financial products of the past to become protocols of transparency with no need for intermediaries.

Investors are continuing to put digital asset in this decentralized framework at an unprecedented rate. Binance Smart Chain and Cosmos are the two entities leading the way in the expansion of DeFi.

According to DefiPulse, crypto asset totaling $30 billion-plus are tied up in smart contracts (at the time of writing this article). That's a lot of dough! The reliance of this $30 billion-plus in assets rests on a framework that's decentralized and is something worth noticing.


2 of the pros of DeFi are:

 
  • The ability to earn interest by the borrowing and lending of cryptocurrency exchange.

  • Derivatives of precious metals, currencies and others are created and exchanged.


TechDogs' Opinion: The next stage of blockchain development has begun and DeFi will expand at an incredible rate. We are likely to see products that democratize and disrupt our existing financial services infrastructure over time.
 

Trend 3: 5G Will Take The Market Into Hyperspace; Up, Up And Away!


TechDogs-Trend 3: "5G" Will Take The Market Into Hyperspace; Up, Up And Away!-2D Image Of "5G Digital Technology" Concept Background For Superfast Speed
Up, Up and Away! Faster than a speeding bullet, 5G will heavily impact the cryptocurrency game in 2021. In fact, 5G transactions involving cryptocurrencies can occur at rates 100 times faster than what they currently are. Severe lag caused by traditional network data speeds is a hindrance for cryptocurrency futures traders. Once again, 5G addresses and wipes out this obstacle.

This means that withdrawing and placing orders will happen faster. According to Fintech Futures, transaction management features would no longer be constrained by network data rates for 5G. For example, when machines make investment decisions, 5G will greatly alter the high-frequency trading section, particularly with the ultra-low latency 5G provides.

TechDogs' Opinion: Crypto wallets are becoming more popular than ever before. In short, a cryptocurrency wallet is a service, program, or device where you can hold your cryptocurrency and it's also how you send and receive cryptocurrency. With the help of 5G, crypto wallets will be enhanced and work more seamlessly, creating a better user experience.
 

Trend 4: Improvement Of Risk Assessment Models


TechDogs-Trend 4: "Risk Assessment Models"-Image Used In Reference Of Improvement In Risk Assessment Model-2D Tiny Characters Standing Near Prohibited Gesture Isolated Flat Illustration
It's currently difficult to predict the future of cryptocurrency investments due to extreme volatility, which means there needs to be improvements in risk assessment models.

According to Fintech Futures, in the face of the increase in digital currency Bitcoin mining and price valuation, a high-quality risk management model is urgently needed, as the potential outcome of crypto currencies trading investments is increasingly difficult for consumers to determine critically without falling prey.

One possible risk of investing in cryptocurrencies is invalid codes that provide insufficient security for your data. Did we tell you, not all cryptocurrencies are created equal and some cryptocurrencies are outright scams that leverage the lack of security to steal your cryptocurrency.

The people have spoken and they demand a higher standard of predicting future events involving cryptocurrencies, not just looking into some crystal ball with a phony psychic. People also don't want to rely on Keanu Reeves getting a prediction from the Oracle. Oh, wait-wrong Keanu movie!

TechDogs' Opinion: So, what's realistic and what can you expect to see in 2021? High-end analytical tools will become easily available and more widespread, making it easier to assess the risk of cryptocurrency investments.
 

Trend 5: Tax Regulation Will Reduce Uncertainty Around Cryptocurrencies

 
This is probably not a popular topic among underground crime fighters like John Wick but tax regulation and where it's headed is a trend that needs to be given its due importance. The taxation of cryptocurrencies is currently somewhat nebulous. However, tax regulation will probably be the fastest-growing cryptocurrency trend of 2021.

Governments are now implementing KYC. So, what in the name of John Wick is that? KYC stands for "Know Your Customer" and makes user identification mandatory, which means better tracking virtual currency.By implementing this, more and more governments are sharing information about who the owners of cryptocurrency are and what transactions they are making.

Fintech Futures reports that crypto taxes are not yet mainstream. Although undesirable to some, crypto taxes have emerged as policymakers understand its revenue-raising potential, overshadowing previous uncertainties.

TechDogs' Opinion: We may witness aggressive development of monitoring and governments sharing information on cryptocurrency owners and transactions. As a result, the first bitcoin tax avoidance cases are expected to be filed in 2021.
 

The Closing Of One Chapter Is The Beginning Of The Next For John Wick


The crypto currency world is expanding. 5G, taxation and especially Blockchain technology will enhance everyone's crypto currency experience like never before, allowing them to make more secure investments.

However, remember, when you and John Wick get paid for your next mission, you may need to pay taxes to stay in the game-get those gold coins ready!

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