So how exactly does one get into Crypto?
Here’s what you need to know.
There has long been a debate over whether crypto is the next big thing or just a passing fad. People were having the same conversations about the internet itself when it first came on the scene, but mass availability led to the mass adoption that we see today.
Here’s the thing – crypto very well could be a bubble that’s about to burst. The prices of cryptocurrencies fluctuate up and down rapidly and trends like DeFi and NFTs come and go fairly quickly. The secret to preventing the crypto bubble from finally popping, however, could be sitting in your pocket right now. Mobile crypto apps have seen a big surge recently, and as more technological improvement and innovations take place, we could see the mass adoption we’ve been waiting for.
Are Mobile Apps the Future of Blockchain?
As an example, let’s take a look at one of the more cutting edge crypto apps on the scene – Blocto. One of the recent innovations in the crypto scene is cross-chain technology. Cryptocurrencies, NFTs, and DeFi all run on blockchains, a form of decentralized digital ledger that records all of the interactions with it. Cross-chain crypto projects interact with more than one blockchain at once.
This is what Blocto does. It’s a mobile crypto wallet that gives its users easy access to multiple different blockchains at once. This means that Blocto users can buy and trade cryptocurrencies and other crypto assets like NFTs in one single app without having to download multiple third-party crypto wallets, traditionally in browser extension form.
If you’ve ever used Steam to buy a video game, it’s a similar concept. Multiple cryptocurrencies and dapps (decentralized applications) are hosted on Blocto that you can interact with. People are far more likely to trust in a unified solution like this one.
The fact is that most people only have a passing familiarity with the crypto industry, which comes from news headlines, like Bitcoin reaching a new high, or the NFT artwork that sold for millions. These people won’t be willing to adopt a new form of technology, unless there are clear benefits and they can do it easily.
Take a look at what happened in the stock market. Previously, the stock market was dominated by wealthy Wall Street investors, but with the mass adoption of free stock apps like Robinhood, there was a significant shift of power into the hands of people, which culminated in huge changes like the infamous GameStop short squeeze from earlier this year. More than 3 billion people worldwide are estimated to own a smartphone, so naturally mobile apps are the best way for them to access a new industry. Mobile apps like Blocto will be instantly intuitive to anyone who owns a smartphone, rather than traditional crypto trading methods.
The Growing Interest
Mobile apps are a great way for people to start using crypto, but just like Steam is a vessel for games, these apps are only as strong as the cryptocurrencies and dapps they purvey. New dapps are constantly being developed that catch the eye of the common person. Sports NFT collections have especially seen a huge rise recently. NBA Top Shot and MotoGP Ignition are two popular examples, and like Tom Brady’s recently announced NFT platform, more are on the way.
These famous faces attached to NFT collectibles or other dapps are great ways to get people interested, but once their attention is drawn, the complexity of the industry and the risks tend to turn them away. People know so little about how crypto works that crypto scams have increased by 1,000% since October. Just like on the stock market, it’s easy to lose money in the crypto industry if you don’t know what you’re doing. As a central marketplace for cryptocurrencies and dapps, mobile apps like Blocto give the crypto industry an uncommon sense of familiarity and safety.
Simplicity and safety are the name of the game when it comes to introducing the masses to a new kind of technology. Especially when it comes to their money, people want to know that they aren’t in danger. Like it or not, smartphones are an integral part of our society now, and there’s no better way to get people into crypto then meshing it with something they already know.