MultiversX Tracker is Live!

What are the Core Facets of a Successful Cryptocurrency?

The financial world is at what feels like a landmark turning point. Like when paper money became ubiquitous in the late 17th Century, digital payments are now taking over and could be the sole way of performing transactions in the future. Cryptocurrencies are poised to offer a revolutionary way of moving funds around in the 21st Century, but there is fierce competition between the diverse options available.

Currently, there is no clear winner, and the future currency is undecided. So, what makes a good cryptocurrency that will be sustainable in the years ahead?

Fast Transaction Speeds

One of the key features of cryptocurrencies is their ability to perform lightning-fast transactions. This is hugely important to internet users, where consumers don’t like to wait around for things. The online world is completely borderless, which means that users in different countries are often performing transactions with one another. When going through banks, international transfers are notoriously slow. But, because cryptocurrencies are decentralised, they are not restricted by having to operate through this go-between.

The problem for cryptocurrencies is the fact that a lot of other online payment systems are also offering fast transaction speeds and providing competition in this way. Speedy withdrawals are key to the marketing of businesses in certain industries, with online casinos being a great example. Operators will go to any length to gain an advantage over their competitors, which has resulted in the emergence of e-wallets as one of the deposit methods available. These sites offer a wide variety of payment methods, which allow players to move their funds quickly and easily. However, it has been noted that some of these instant pay-out methods may come with added costs. This is where a cryptocurrency could step in and offer an alternative.

A Solid Reputation

When it comes to dealing with people’s hard-earned money, payment platforms need to build up a solid reputation to encourage consumers to use them. This is something that can only be achieved over a lengthy period, which is why new cryptocurrencies usually fail to gain traction in the early days. Bitcoin is the most trusted and reputable option in the world, thanks to it having been around the longest and earning mainstream attention. The fact that there has been so much news about it helps consumers realise that it is a legitimate platform that isn’t going to scam them out of money.

PayPal’s journey to becoming one of the world’s most successful payment systems shows how it takes a while to gain trust in people. For more than 15 years it existed as a subsidiary of eBay, which is where it gained a reputation for being a reliable method of transferring funds. Thanks to being part of one of the world’s most famous online trading platforms, PayPal found it easy to expand its operations after becoming independent in 2015. Owners of cryptocurrencies, therefore, need to be patient in building up their status for being dependable.

Security and Peace of Mind

When it comes to transactions, users need to feel assured that things aren’t going to go wrong. If a payment platform is at risk of security threats or faults, people simply won’t use it and will choose a different option. Therefore, one of the key components of a cryptocurrency that is destined for success is that it has infallible code that can’t be tampered with or compromised in any way. If consumers are to step away from the security that banks provide, this is essential.

The main reason for the rise of Bitcoin has been its use of blockchain and the reliability of this technology. This software is almost impossible to hack because it relies on the fact that it is being constantly reviewed by users. The blockchain also makes it easy to track payments, as everything is recorded on a publicly visible ledger.

The main problem for users is not in the cryptocurrency itself, but in the platforms that they use to store it. Online wallets are susceptible to data breaches, so savvy holders would be wiser to store their assets in offline wallets. Of course, this is completely out of the control of crypto developers, but it is a factor that has hindered their mass adoption in the mainstream up to now.


One of the primary appeals of cryptocurrency is that it cuts out the need for banks. Incidentally, a successful cryptocurrency must be decentralised. This is the only way that society will move forward and become prepared for the interconnected future. It will take some time for this to come to fruition, but it should soon become apparent that the banking institution is outdated.

Decentralisation is essential for a cryptocurrency that wants to become global, as there is no overriding authority based in any one country. This means that users from all over the world will feel comfortable using it, knowing that it isn’t funding any political agendas or unworthy causes anywhere. If humans are to colonise space in the future, this decentralisation will be key as well. Space adventurers will need to use a high-tech currency that can operate anywhere.

The race is still on to see which cryptocurrency will win and become the planet’s sole form of payment. It is crucially important for it to have all these facets, as it looks to render cash and traditional banking methods obsolete.

Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡🟡🟡 Huobi🟡 Kucoin.


The Riveting World of Bombay Club

The world of online casinos is an ever developing market, steadily growing as time goes on, particularly so during the lockdowns that were imposed in many countries, causing people to make the leap to the online worlds to get their dose of entertainment. After all, the convenience to bet on your favorite games from the comfort of your hom...

SOCIAL GOOD 100$ free sign up bonus + 100% Cashback on daily purchases

SocialGood App gives max 100% Crypto Back on your purchases from 1,800+ stores! (AliExpress, eBay) Join the 1M users & download now for $100 signup bonus! You can exchange your SG crypto for BTC/USDT or keep for 15% staking! Shop up to $10,000 practically for FREE using the SocialGood App at your favorite eCommerce Shops! - 100%...

Ethereum Expected to Thrive in 2023

Ethereum’s native token ether (ETH) has experienced significant levels of volatility but there are indications that its price could resurge into 2023 and beyond. So, what are the factors that could drive an increase in the price of ETH? Background to ETH Ethereum is a decentralized, open-source blockchain and ETH is the primary...

How To Get Started On Cryptocurrency Gaming

Gaming has been a popular activity for centuries, from the early days of board games and card games to the recent popularity of video games. Online gaming has taken the industry by storm, with millions of people playing games online worldwide. At some point, others would bet on the game itself to add more excitement. It opens the i...

5 Important Features of White Label NFT Marketplace

NFT Marketplaces enable users to trade NFTs of various types, such as art, photography, music, movies, memes, metaverse, game components, etc. White-label NFT Marketplaces fulfill a similar objective. Rather than formulating their own NFT Marketplace, multiple companies use White label NFT Marketplace. A White Label NFT Marketplace...

How to get started with crypto gambling

Crypto gambling is becoming increasingly popular as the industry expands. For those who are new to the concept, it can be a bit daunting to get started. This guide will outline some of the basics of crypto gambling so that you can get started with confidence. Crypto gambling is a form of online gambling that uses cryptocurrency as a m...

Best 7 Web3 Apps That Pay You Crypto

The blockchain is one of the internet's most promising technologies, offering data security and many novel ways to earn money. Its most valued use, however, is in cryptocurrency, which put forth the idea of Web3 apps. This allows creators to take advantage of the blockchain, giving people different ways to earn crypto.Whether you’re looki...

6 Must-Have Tools For Crypto Traders

The world of cryptocurrency is complex and ever-changing. As a trader, you need to stay on top of new developments and trends in the industry—but it can be tough to do this while also trying to keep your eye on the charts. In this guide, you'll walk through some of the popular crypto tools that’ll help make trading easier and more effecti...

Can Ethereum 2.0 Be Converted to Cash?

As the world moves toward a more digital future, numerous cryptocurrencies continue to rise and give individuals the ability to invest for their future. And over the last few weeks, the crypto community has been talking about one thing – The Merge. It’s the Ethereum blockchain’s most risky and ambitious software upgrade and has been in th...

Cryptocurrency in Gambling: Features and Benefits

IntroductionIf you've heard of cryptocurrency, then it's likely that you know something about Bitcoin. This type of digital currency is not only a form of investment but also an opportunity to make payments via blockchain technology. Since 2017, the popularity of cryptocurrency has increased greatly due to its benefits in terms of safety...

Cost to Develop Your Own Cryptocurrency Website

IntroductionIn the present financial space, a cryptocurrency could be defined as money operating in the digital ecosystem. At first, this may seem unreal to many of us, particularly when cryptocurrencies are not something that we could touch. However, as technology continues to evolve, it has come a long way. Thus, it has become import...

EgldRush - The best Elrond NFT project Farming, Staking, Rewarding

Let’s discover together EgldRush world. Unfortunately, there are many NFTs projects that have repeatedly disappointed the expectations of many people. We decided to put an end to this seemingly unstoppable chain. Meet EgldRush, a collection of 5555 high-quality, unique collectibles. We set our expectations high and want only the bes...

Choosing a Safe Cryptocurrency Exchange 2022

Smart MoneyWhile there are many different ways to make money with cryptocurrencies, the best way to choose a safe exchange is by choosing one with the most rigorous security standards. They also educate their users about cyber hygiene and other basic crypto security principles. A safe interchange will be a good place to learn more about c...