1.01 This is why you can no longer ignore cryptocurrencies

Cryptocurrencies have created a buzz in the past few years. With your colleagues in the workspace or with your friends in a gathering - Bitcoin or crypto conversations must have sprung up. From the massive crypto returns to their growing mainstream popularity - one thing is for sure. You can no longer ignore cryptocurrencies. 

Moreover, why should you? Digital currencies and blockchain, the technology behind cryptocurrencies, are considered to be the next disruptive revolution of this decade. Just like the internet revolutionized the way the world communicated, cryptocurrencies are expected to generate similar momentum in the upcoming years. So, why not get interested and jump onto this wagon before the train leaves the station?

And here are a few reasons for you to start with the zondacrypto Academy and take your crypto knowledge to the next level.

The monumental growth in crypto

Let us look at the first cryptocurrency, Bitcoin. About ten years ago, Bitcoin first reached $1 from being just a small fraction of $1. In 2021, it hit an all-time high value of $68,990. Just imagine if you were among the people who bought a bunch of Bitcoins 10 years ago. 

The same goes for another prominent asset, Ethereum. Can you guess the price of ETH five years ago? Well, it was below $1, and in 2021 it surpassed $4000. 

It is true that the space of digital assets holds immense potential, and responsible investments can give you great returns. However, while cryptocurrencies have generated massive returns, especially for early investors, it is also essential to tread carefully as the market is quite volatile. We always advise you to ‘Do Your Own Research’ (DYOR) before pouring your hard-earned money into the crypto space. One of our primary intentions with initiating zondacrypto Academy has been to provide the necessary knowledge before traders and investors decide to plunge in.

Rise of institutional investments

You surely heard about the popular billionaire Elon Musk, CEO of Tesla and SpaceX. He invested over $1.5 billion in Bitcoin in February 2021. Prominent companies like Square, Coinbase, MicroStrategy have also invested in Bitcoin. Does your jaw drop knowing that these biggest entrepreneurs have invested hundreds of millions of dollars in cryptocurrencies collectively?

The first biggest buying wave started in 2020 due to the economic effects of the global pandemic. While we all were stuck at home because of the lockdown, leading investors and institutions were making massive investments in this new financial instrument - crypto.

Applications beyond cryptocurrencies 

You might have heard the news about Twitter CEO Jack Dorsey’s first tweet. He sold his first tweet as an NFT for millions of dollars. But why are we talking about NFTs now? Because they also belong to the world of crypto and blockchain. Let us have a quick look at the realm of blockchain beyond digital assets. 

• Decentralized finance (DeFi) - Imagine not having to depend on banks anymore. DeFi makes it possible. It allows users to be independent of traditional methods like banks and brokerages and enables peer-to-peer payments, loans, fundraising, etc. 
   
• NFTs - “Non-fungible” means it is unique and cannot be replaced with something else. For example, you can replace one Bitcoin with another and one dollar with 100 cents. But you cannot replace one NFT with another. Any unique and rare digital file like a document, image, art form, music can be converted into an NFT. Some say NFTs are an evolution of fine art collecting, only with digital art. However, there are more use cases for NFTs than just digital collectibles.
   
• Web 3.0 protocols - The current web 2.0 applications are about connecting people like social media platforms. You can think of Web 3.0 as the future of the internet, which allows you to control your own data, identity, and destiny by decentralization. 

If you feel overwhelmed by reading some of these unknown terms, don’t worry. From setting up a wallet to explaining how to read the charts - with the help of zondacrypto Academy we will do our best to help you navigate the world of crypto.