Crypto Watch rounds up the best news regarding the digital form of money, with this week focusing on Elon Musk's cryptocurrency assets, the different Crypto Wallets, and its transition from cash. The world shows its fondness for cryptocurrency and how it becomes accepted in the many aspects of a person's everyday life, with keeping assets for their needs.
Elon Musk and Keeping his Crypto Assets
Elon Musk is intent on keeping his current cryptocurrencies and investments on the digital blockchain to himself, and it is not something that the tech CEO will let go of despite its current state.
The CEO is famous for tweeting about cryptocurrencies like Bitcoin and Dogecoin that result in massive shifts in the industry, with his influence affecting its track.
The billionaire highlighted the importance of still owning physical assets in the current landscape now, especially with the probable inflation rate that he talked about. However, the CEO also said that he is keeping his current ownership of cryptocurrencies including Bitcoin, Ethereum, and Dogecoin which are already known to the public.
Cryptocurrencies are purely based on the digital landscape and would never be something tangible or fungible like cash and other physical assets that people own. The main takeaway here is to be smart in investments, not bordering heavier on one aspect or the other, but focusing on all the aspects that will help a person's focus.
Read Also: Biden Signs Crypto Regulating Executive Order! US Dollar's Digital Version Now Being Considered
Secure Crypto Wallets for Safer Assets
Secure crypto wallets are the requirement for owning digital money, and without them, people's money would be at risk for many breaches and attacks. Crypto wallets are generally secure, but not all are always guaranteed to protect a person's assets, especially as not everyone focus on the security feature in their wallets.
This 2022, a person should be smart in choosing what platform, where they will keep their cryptocurrency assets as the past two years, focused on many disputes and hacks in the community.
Platforms like Coinbase, Trezor Model T, and Ledger Nano X are some of the most secure wallets in the market now, something worth considering for this venture. These are hardware wallets for cryptocurrencies.
Cash to Crypto: Is it Happening?
The possibility of the world adopting cryptocurrency as cash may happen in the future, but it is not a sure thing in this environment and the present industry of digital assets. That is because it would be a global effort to change cash into cryptocurrency and there are still places in the world that have difficulty in connecting to the internet.
Many aspects fall into this argument and there are some considerable ones for it. One of them is indigenous people that are still unaccustomed to the use of smartphone devices for crypto. Moreover, it will be a significant change in the current market, especially if people are to change their way to purchase daily items with cash to cryptocurrency.
Related Article: Australia's Crypto Regulation Move To Ensure Safer Investment, Transaction! Is This a Good Thing?
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Written by Isaiah Richard
