It has only been a little over ten years since Bitcoin (BTC) was launched. The beginnings of blockchain technology were a concept long before the inception of cryptocurrencies. That is how it goes with the development of most technologies, and then there is the launch. What else is there to know about the history of cryptocurrency?
There is currently a bull market, and digital assets are soaring higher than the stock market. That’s quite an accomplishment, considering that stocks are doing quite well. These days, crypto enthusiasts are rushing to get airdrops of new cryptos. They are also trading, hodling (yes that is spelled correctly) and even staking digital assets.
Back when BTC was first conceived in 2009, a person signing up for the airdrop could have received 5 bitcoins for free. That’s right, you would have been handed roughly $50k in today’s money for free. Many people are still struggling to grasp the concept that these cryptos are real money. They are traded on quite a few exchanges.
Bitcoin is considered the gold standard, and Ethereum is considered the silver standard. In recent years, a ton of ERC 20 tokens have been launched on the Ethereum blockchain. There have also been other blockchains introduced, and there are even stablecoins now, which are pegged to the dollar.
If you put regular dollars in a savings account in today’s world, you’re not going to earn a ton of interest. Yet there are crypto companies paying up to 8 percent interest on stablecoins. That is rather amazing, and it is is indicative of how well the crypto market is doing. That is without the majority of the world really embracing cryptocurrencies, yet anyway.
Even meme coins like Doge, Banano and Turtle Coin have quite a following. The year 2019 was all about DApps or decentralized applications, Compound being one of the best. Blockchain games are quite popular as well, and there are some like crypto kitties that allow you to earn collectibles.
Crypto Kitties is based on the Ethereum blockchain. There are quite a few Tron blockchain enthusiasts out there when it comes to the gaming industry. There are also quite a few ways to earn crypto in general, one of the most popular being claiming through faucets.
Many people say that faucet claiming isn’t really worth their time. These faucets pay a miniscule amount of crypto, but over time, it can add up. Besides, you’re having fun and still earning something. To add to that, Bitcoin was paid through a faucet when people were first getting 5 BTC per airdrop claim.
You can’t look at the state of crypto now and think that’s as good as it gets. You have to think outside the box and keep learning. The history of cryptocurrency tells you that there is so much more to come. If you were to dive in now and accumulate some digital assets, you could ride one of the biggest bull markets we’ve ever seen. It will be interesting to see how blockchain technology is utilized in the future.