The present world is known as the digital world, and in this digital world we are quite advanced. In the past, people used gold and silver as the currency for transactions. With time, it was realized that carrying gold silver with huge quantities is not so easy, and paper notes were introduced as the currency, like the dollar. Later, depending on location, many kinds of local currency introduced. Still, we consider the dollar as the standard paper currency for international transactions.
With time we became more updated. In 2009, Bitcoin introduced for the first time as a digital currency, which is known as the first cryptocurrency, which mainly introduced two breaks off the chain of the banking system and taking control of our own asset fully. When it was 2015, I only heard about Bitcoin, and I didn't have too much knowledge related to it and in my country only very few people might have heard about it. In my opinion, cryptocurrencies started to open their wings after 2019. At the present time there are tons of cryptocurrencies in the market. At the present time, many people know about cryptocurrencies and cryptocurrencies are being considered as a future money of the future world.
It's true that cryptocurrency is getting popular in recent years but most of the people don't have to knowledge about cryptocurrency. I'm pretty confident that not more than 10% of people know about cryptocurrency. Again, many of them are very much afraid of investing in cryptocurrency, who knows about it because cryptocurrency is yet to gain the trust of the general public. Maybe most people end up suffering losses in the world of crypto. Maybe it's because of their wrong trading decisions, but somehow it is a reason for fear of people losing their money. So, I feel that cryptocurrencies still have a long way to go.
If we check the market cap between stocks and cryptocurrencies, it can clearly show the difference between cryptocurrencies and stocks. At the present time, the difference is huge. But with time, people are getting updated and more and more people are getting interested in cryptocurrencies and crypto bloom is not so far and I believe that someday it can reach to the same level of stocks, which is just a matter of time. In fact, in the future, I believe that crypto will do better than stocks.
At the present time many companies have already started to use crypto as payment method and in the future, I believe that most companies, even local stores and shopping malls, will allow cryptocurrency for payments. This is the future and it will happen for sure and I am very confident about it, and I believe that it may not take more than 5 to 10 years or even faster than it. So, it is quite expected that cash transactions may be mostly going to be replaced by crypto transactions in the future.
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