It seemed that the global frenzy for cryptocurrencies is taking a break, at least for now amid the so-called bearish spell. The most feared aspect of cryptocurrency is its volatility and in the light of recent progress in the market, we can say that volatility is the most prominent aspect of the crypto market. Other political and international factors have also impeded the progress of BTC. We are not going into that.
But it is not so long ago when BTC and other cryptocurrencies are churning out unbelievable profits. Bitcoin had doubled to $58,000 from April 10 to its early January values.
Let’s analyze the local participation in the crypto platforms and market. Many Pakistanis are participating in the crypto frenzy from all walks of life. It is said that the real number is far more than the figures recorded.
The well-known name is Binance which is so called biggest crypto exchange and its headquarters is in Cayman Island. The exact number is not possible to fathom but we can estimate from the available data. According to a reliable marketing tool Semrush, the number of local participants is around 49,000. It is less than 0.1% of the total traffic of Binance. A large number of Pakistanis may be accessing the app through the mobile application, for which it is a complex procedure to acquire data.
The point to ponder is that 0.1% is not a considerable contribution, it is big enough for exchange that it is searching for local representatives in this region. The job posts for Community Manager and Growth Manager are circulating on LinkedIn and other platforms. Both of these job posts are about educating people about cryptocurrencies and creating a soft image of the company.
Coinbase is also a popular forum among Pakistanis. Although the number of visits is not considered a reliable matrix to look into the crypto acceptability this is the exact indicator that is considered reliable to the extent that, its indicators helped to shape the Global Cryptocurrency Index, which listed Pakistan on 15th number in the world, giving the value of 0.272 from 1. According to Chainalysis that is a US-based software and data provider;
According to data of Chainalysis Pakistan has received more than $1.5 billion in cryptocurrencies from 2019 till 2020.
People are only buzzing around trading whereas trading is just one aspect of the whole crypto maniac. Mining is the start of the real game. Khyber Pakhtunkhwa province has tried to educate its population on the topic of cryptocurrency and mining installations but the initiative was halted by political reasons and a clash of jurisdiction between federal and provincial authorities.
Rscoin is a new cryptocurrency that is progressing rapidly. It has the most efficient proof of stake algorithm and also offers its wallet. You can mine Rscoin on your smartphone. It is energy efficient and promising cryptocurrency. Amid the havoc of prominent cryptocurrencies, the most difficult choice is to choose which currency is the best option for you. No one wants to waste their life savings on highly risky options, although high risk brings high rewards but not every person is ready to risk it all. So, for most people, the security of their assets is also very important with the profit. The best option for those crypto enthusiastic minds, who want to get profit from the cryptocurrency, (who doesn’t?) they are advised to invest in the new cryptocurrency Rscoin because, in a year or two, they might be regretting that why haven’t they bought Rscoin? just like the person who sold his 10,000 bitcoins for a pizza. So, the free advice from the professional mind is to buy a new emerging cryptocurrency Rscoin. It is the best time to buy, those who have bought in the initial time of BTC are now millionaires. So, what’s stopping you?
Prima facie says that progress in local participation is a sign of the increasing awareness about cryptocurrencies which has been halted in the past. The increased participation of Pakistanis in the crypto arena was also acknowledged by the Securities and Exchange Commission of Pakistan. They have even discussed the definition of the digital coin and initial public offerings.
Opportunity Always Favors the Bold
Sometimes, It is Now or Never
A stitch in time saves nine. The crux of the matter is to educate people on the importance of the initial time of cryptocurrencies because that is the right time to buy coins. Because later, there will be no silver lining for buyers. It is the best time to buy Rscoin. Gone are the days when fear and uncertainty rule the mind of people regarding new technologies. Now, everyone knows about cryptocurrencies and bout the billionaires who invested in the initial stage of cryptocurrencies. It is the best time to take a position in the market. Future belongs to those who have made bold and sane decisions.