2017 was marked by an unprecedented demand for the cryptocurrency. As a result, the cryptocurrencies grew in price at an incredible rate. For example, in April 2017 1 Bitcoin cost 1147,63 USD, in April 2018 the price is approximately 6992,51 USD. In December 2017, the price for 1 Bitcoin was almost 20.000 USD. Another popular cryptocurrency also showed growth, in April 2017 1 Ethereum was sold for 44,85 USD, and in April 2018 the price is 391,34 USD. “These indicators demonstrate the high capitalization of the cryptocurrency and the significant interest in this instrument among buyers,” says Vadim Blaustein.
Despite the high popularity, the cryptocurrency market is open to new players, and now is the best time for doing business related to cryptocurrency. Cryptocurrency will be of interest to almost any business because of the “digitization” of all areas of the modern economy, both at the micro- and macro-levels.
Cryptocurrency offers many unique advantages, but Vadim Blaustein specifically highlights 5 advantages of cryptocurrency that will be of interest to almost any business.
1. Anonymity: Cryptocurrency provides for anonymization of the holder of the asset, as well as of the person issuing it. For example, despite the unprecedented interest of both media and state regulators to Bitcoin, the identity of the creator of this cryptocurrency is still unknown.
2. Flexibility: Cryptocurrency is primarily a very flexible tool. Cryptocurrency can be used by the most profitable and convenient way for any business. Cryptocurrency can be a valuable asset, share, means of payment, security, bill, bond, etc. At the same time, business can offer new mechanisms for using cryptocurrency, which are not provided for in traditional business.
3. Lack of state regulation: Most countries in the world still have not come to the conclusion what cryptocurrency is, how to store it, how to tax the currency, how can it be used, etc. Cryptocurrency is the most liberal tool that exists in the modern economy. The lack of state control opens up unique opportunities for business growth, minimizes the costs of bureaucracy and the administration of a business idea, and provides for the possibility of rapid growth for new ideas.
4. Absence of monopoly: Despite the existence of the most common cryptocurrency, in reality there are no institutional players in the cryptocurrency market. Cryptocurrency is not monopolized and is not represented by hedge funds, investment banks and other professional players in the financial market.
5. Unlimited range of potential partners, clients and investors: Cryptocurrency exists on the Internet, and does not know geographical boundaries. To enter the new market, there is no need to open an office, hire local personnel, obtain licenses, and bear significant logistics and administrative expenses. Cryptocurrency is available to everyone who has access to the Internet, which is almost 4 billion people.
Vadim Blaustein and many other specialists agree that the cryptocurrency market and business related to cryptocurrency will grow and gain popularity. Enthusiasts and critics, specialists and ordinary users are unanimous – the cryptocurrency will stay in business for a long time, and will become the norm in the life of an ordinary person.
BlauStein is glad to help its Clients to take advantage of the unique advantages of the cryptocurrency, as well as provide a comprehensive legal solution in the matter of the cryptocurrency for their business. Vadim ends with saying: “cryptocurrency is a step forward for your business, and we are pleased to provide you with comprehensive professional support in this important step for the development of your business”.
