Many modern merchants expanded their mechanisms to accept cryptocurrency payments. But, gradual acceptance of cryptocurrency has caused controversy. The Mark Hauser Insurance Group shared some data on the logistics of accepting cryptocurrency payments and things investors should consider when evaluating cryptocurrency digital tokens and coins created on the blockchain’s decentralized ledger to do transactions. Cryptocurrencies are structured to function outside the control and regulation of the government. The best known of the cryptocurrencies is Bitcoin.
Security features, market capitalization and wide use base of Bitcoin has made it the most common of the ‘altcoins’ in the cryptocurrency industry. The unconventional and often unpredictable market for cryptocurrency is intriguing to investors because they think this volatile asset has good, low risk, long-term growth potential, short-term high growth potential and is an exciting investment vehicle. Buying cryptocurrency can result in considerable losses if it is not timed right. It’s a gambling-like venture with up-and-down trends. The Hauser Insurance Group tracks these issues.
Many cryptocurrencies have been designed to fit a specific market niche. Platforms for cryptocurrency transactions, cryptocurrency exchanges, have emerged. So have hackers who attack them. Some exchanges are more secure than others. Global markets like Wall Street have slowly begun accepting cryptocurrency as a payment method. Some politicians and athletes get some of their pay in cryptocurrency. U.S. banks don’t let customers buy cryptocurrencies because it’s too volatile. But, Some U.S. insurance companies accept cryptocurrency payments.
The Hauser Insurance Group monitors cryptocurrencies’ role in insurance companies. When the Federal Reserve announced 3 interest rate hikes in 2022, many investors traded cryptocurrency holdings for safer investments. Plus, cybercriminals stole $14 billion in 2021, double that of 2020. Federal lawmakers are debating cryptocurrency industry laws and regulations to protect investors and help the IRS track cryptocurrency transactions.
Original source to learn more: https://www.hauserprivateequity.com/team-member/mark-hauser/