The use of Bitcoin in international transactions is expected to continue to increase

The use of bitcoin as a medium of exchange is continuously increasing with some countries adopting it as legal tender. The proliferation of its use could also see it take over international transactions on the Society for Worldwide Interbank Financial Telecommunications (SWIFT) network.

As blockchain technology continues to mature and evolve, new innovations could make international transactions faster. A recent Forbes article noted how it could increase the speed of moving data in the SWIFT network, which is already partnering with fintech firms.

“The Society for Worldwide Interbank Financial Telecommunication (SWIFT) disclosed Tuesday (September 13) a partnership with the fintech firm Symbiont to provide more accurate data to financial companies through blockchain technology “, a Cointelegraph article noticed.

Previously, bitcoin transactions did not have the transaction speed now made possible via the Lightning Network. What the network essentially does is introduce transactional activities that can take off from the traditional Bitcoin blockchain, thereby substantially increasing the speed of both domestic and international transactions.

“As long as the country of origin has liquidity in a fiat / Bitcoin market to allow someone making a payment to buy it, and the destination country has enough liquidity to allow the recipient to sell it, Bitcoin is a perfect vehicle for processing that international payment. with minimal slippage / fees and settle it within a few blocks “, a Bitcoin magazine article of the author “Shinobi‚ÄĚNoted. “Add Lightning Network to the image and this can be fixed in seconds.”

Gain exposure to sustained growth through futures

As bitcoin is becoming increasingly popular as a trading median, regulatory measures are still needed to support the cryptocurrency trading market, especially in the eyes of regulators such as the Securities and Exchange Commission (SEC). Until then, investors may still be reluctant to invest directly in bitcoin with confidence.

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There is another alternative: Investors can also opt to gain exposure to bitcoin futures contracts via the ProShares Bitcoin ETF (BITO). With cryptocurrency regulation still in its infancy, BITO will allow investors to gain exposure to bitcoin on a traditional market exchange, thereby reducing the risk of a public exchange failing.

Additionally, BITO is actively managed, offering investors dynamic exposure to the bitcoin futures market. This puts portfolio management in the hands of market professionals who can increase or decrease exposure to contracts given the current nature of the ever-changing and volatile cryptocurrency market.

For more news, information and strategies, visit the Cryptographic channel.

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