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Crypto is Dead: Is It Myth or Reality?

In this week’s blog, we bust myths about cryptocurrency and leave you with some tips on how to earn bitcoin

The cryptocurrency narrative is always the same; After every drop, we hear, “Crypto is dead.” But the reality is, the value of cryptocurrency is always changing.

From the get-go, cryptocurrencies had a bad rap for being volatile. But what we’ve seen time after time is that there’s growth in cryptocurrency. The idea that cryptocurrency is dead is a myth. Take it from Hal Finney, one of Bitcoin’s early pioneers and a prime candidate for being Satoshi Nakamoto, the pseudonymous creator of the technology.

“Every day that goes by and Bitcoin hasn’t collapsed due to legal or technical problems, that brings new information to the market. It increases the chance of Bitcoin’s eventual success and justifies a higher price.”

We take a step back. Then we leap 3 steps forward. 

Although the value of currencies like Bitcoin have hit drops, they still continue to rise to new levels, and it leaves us asking ourselves: How much higher can the value grow? 

And that’s just on paper. 

Now let’s look at why cryptocurrencies have become so appealing. They’ve sparked an explosive conversation in the financial world, especially during the pandemic. What we saw in 2020 was the clear accelerator of the banking industry as a whole, or any industry for that matter. Many teams pivoted to working remotely, and retailers moved online. We saw a clear boost in the digitization process that has been occurring over the past few years in every aspect of our lives. It’s become as apparent as ever that digital currencies offer a clear advantage.

Cryptocurrency provides a service. 

Think of it like this: Cryptocurrencies are like streaming services. You log on to different platforms to see different shows. Different coins have different purposes, with Bitcoin being the leading force. As many fiat currencies tend to lose value as they battle inflation, cryptocurrencies are able to combat that. The value is growing steadily over time, making it a worthy investment for your hard-earned dollars.

Cryptocurrencies are digital assets that make transactions safe, efficient, and universal. Because of this, these cryptocurrencies are worth holding on to, especially as an investment. The consensus is that the blockchain and digital currencies are here to stay, and that they are the future. At Quontic, we believe Bitcoin has a particularly bright future (but, of course, we’re not giving investment advice).

Now, we bet you’re wondering how Quontic is a driver for Bitcoin.

We’ve created a safe and innovative way to earn bitcoin: Bitcoin Rewards Checking. We are the first bank in the nation to develop a Bitcoin rewards checking account that allows you the opportunity to earn 1.5% of your purchases back in Bitcoin. By way of products like this, we’re enabling people to dip their toes into the world of crypto. They’re able to earn and save crypto in a way that’s comfortable for them – and without risking their own money.

Educating yourself on cryptocurrency is intimidating, but the more you’re learning about it, the less intimidating it is. Regardless of whether you are well-versed in cryptocurrencies or somebody who’s never owned, you’ve likely never seen other financial institutions approach Bitcoin as we do. You can learn even more about Quontic’s innovative approach to earning Bitcoin here.

We believe that crypto is far from reaching the peak of its value and utilization. We’re going to see an abundance of applications for it in the years to come, and anything that states otherwise is likely… a myth.

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