With the introduction of cryptocurrencies, it looks like the future has arrived. A few decades back, who would have thought of paperless currency in the market? Cryptocurrency has been a revolution for the fintech industry. The top fintech platforms are already integrating cryptocurrency investment to facilitate customers. The future looks bright for both, fintech industry and cryptocurrencies.
More and more governments are handing legal access to cryptocurrencies. In some countries, you can even shop for any product/service using cryptocurrency. Financial institutions are now hiring individuals that have completed a cryptocurrency course. If you are interested in building a career in the fintech industry, read on to know the top five cryptocurrency trends.
The emergence of DeFi technology
Defi (Decentralised Finance) is a technology that supports peer-to-peer digital transactions without third-party. There is no need for a centralized system to route the transactions to their target in DeFi. None other than blockchain could make decentralized transactions possible. Public blockchain channels are used to facilitate peer-to-peer transactions on Defi. Ethereum, the recently acknowledged cryptocurrency, is a prime example of DeFi technology. More and more cryptocurrencies based on DeFi technology will be launched in the future. A cryptocurrency course can help you know more about decentralized technologies for finance.
The emergence of stable coins
The biggest reason why most people fear investing in cryptocurrency is because of market volatilities. The price of cryptocurrencies often rises and falls drastically based on the market. However, this issue seems to be resolved due to the introduction of stable coins. Stablecoins are those digital currencies that have a static rate.
It happens because the price of stable coins is fixed by associating it to flat money or any exchange-traded commodity. Many fintech platforms are already facilitating customers with the purchase/sale of stable coins. It is expected that the market cap of stable coins will increase in the future.
Introduction of tax regimes for cryptocurrencies
More and more countries are now recognizing cryptocurrencies as legal currencies. Many countries have even released tax regimes for cryptocurrency regulations and trade. Some countries are planning on releasing tax regimes for cryptocurrency trade soon.
It comes as good news for fintech firms looking to offer cryptocurrency trade options to customers via their digital platforms. Many financial technology courses now include topics related to cryptocurrency. If you are looking to build a career in fintech, you should know about the trending cryptocurrencies.
Emergence of CBDCs
With cryptocurrencies reaching new heights, governments and central banks are also stepping into the game. Many countries have already launched state-backed cryptocurrencies for their citizens. CBDC (Central Bank Digital Currencies) is more likely considering the time authorities are spending on deciding the fate of cryptocurrency. CBDCs are also predicted to become an approved form of payment in near future.
Rise of NFTs
NFTs are digital assets that can be traded via cryptocurrencies. Some of the common NFTs are art pieces, in-game assets, and videos. More and more people are interested in NFTs as there is no complex onboarding process for buying them. More and more items are predicted to be traded as NFTs in the coming years.
How to learn more about cryptocurrency in fintech?
We at Imarticus Learning, offer the best financial technology courses to enthusiasts. Fintech courses offered by us are designed based on industry standards. If you want to build a career in fintech, an industry-recognized certificate and hands-on training will be perfect for you.
Our fintech courses come with placement support to help you get into the finance industry. You will also learn about the technologies that make fintech possible via our online courses. Start your fintech course now and learn more about cryptocurrency!