The internet changed the world during the 90s, and smartphones brought in a revolution in 2007 after Apple released its flagship iPhone. Bitcoin was launched in 2009, two years after the release of the iPhone.
However, despite being more than a decade old, BTC is yet to be accepted by the majority of the global population. Now that the crypto markets have existed for nearly 13 years, why is it that only a small section of people invest in them? This article will highlight why the world has not experienced a massive crypto adoption yet.
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When Will We Experience A Massive Crypto Adoption?
James Mullarney, the host of the popular YouTube channel InvestAnswers stated in his latest video that simplified mobile wallets could change the way how people look at cryptos. According to the analyst, a revolution in the crypto wallet sphere that could make it easier for the average person to understand will bring in massive adoption.
“If you can simplify the wallet, you can change the game, and this is where [Solana co-creator Anatoly Yakovenko] comes. The big plan for the solution for mass adoption of crypto is a wallet integrated in a smartphone. And that could help with global economic freedom. What does it look like with one billion people using crypto? What do you imagine? It’s in this device, the device that you use everyday. The phone has to be your hardware wallet. That’s just something that we always felt,” he said.
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Moreover, there is truth to Mullarney’s statement that smartphones could bring massive crypto adoption. A crypto wallet that is integrated into a smartphone and is easier to understand brings more people into the markets. Fingerprints and retina scan into smartphone crypto wallets as security can bring more confidence to users.
Therefore, the key to global adoption is to simplify wallets and integrate them into smartphones. The development will attract millions of new investors and would make cryptos reach a mainstream audience.