Cryptocurrency Although the market is frequently discussed in the world of economy and finance, it is actually a fairly new field. For this reason, it has many shortcomings and developments in this area continue. Recognizing this shortcoming, the participants want to invest early in new solutions in the developing field and make a profit. 2023 awaits a year in which many innovations are expected in the crypto space. Here are the four main industries you can follow this year.
Crypto Payment Solutions
Crypto payment solutions are basically businesses that facilitate transactions between crypto and fiat currencies. Considering the capacity and usability of online payment solutions, it is possible to say that the growth potential is quite high. Moreover, since these payments are not limited to shopping transactions, they can also produce many solutions for individual and corporate payments.
Koinfinans.com As we have reported, one way the crypto payments industry can grow is the issuance of new debit cards. These cards can help the counterparty pay in crypto even though they don’t accept crypto payments. Of course, there are solutions that receive such payments, namely POS solutions.
stablecoins
stablecoinThey are a type of crypto asset designed to minimize volatility. They can be used for payments and savings backed by other digital assets such as fiat currencies, gold or other cryptocurrencies.
Stablecoins offered against highly volatile cryptoassets managed to become the focus of attention in a short time. If the average person means that their investments will lose value overnight, bitcoin may be less willing to buy something with However, considering that some stablecoins have also crashed in the past, it would be wrong to say that the risk is completely zero.
However, one of the best examples in this regard is Tether (USDT). The company claims that each asset is backed exactly by the US dollar, and it frequently repeats these arguments.
Crypto Trading and Clearing Solutions
It would not be wrong to say that crypto trading and exchange solutions are one of the most critical stages. Participants who choose to trade cryptocurrencies generally tend to use exchanges. It would not be wrong to say that many stock exchanges contain many different solutions, since they also allow buying/selling transactions with fiat money.
DeFi Based Lending Protocols
DeFi-based lending is lending money using a decentralized financial instrument such as cryptocurrency. DeFi, or decentralized finance, is an all-encompassing term for the use of blockchain technology in cryptocurrency and finance-related fields.
DeFi has become one of the most popular ways to lend money with cryptocurrencies. The process involves borrowing from platforms that match lenders with borrowers and then paying interest on their loans.