In society today, most individuals rely on technology daily. As of April 2022, there are approximately 5 billion internet users in the world. Comparing this figure to over a decade ago, this is a significant jump from 1.2 billion in 2010.
Nowadays, most adults rely on their mobile devices for most of their day-to-day activities. If you visit the app store, you’ll be able to find an app from any department, including gaming, stocks, fitness, banking, and crypto.
Financial Technology (FinTech) has developed significantly over the years, more specifically crypto. In 2009, Bitcoin launched as the first cryptocurrency to enter the market and is now leading the market with a value of over £23,000 per one BTC. With millions of pounds invested into the crypto market globally, it is only set to rise further.
How Has Crypto Grown?
Crypto has become a new phenomenon in today’s society. With different crypto projects aimed at individuals with various interests, it has become more than just making money.
Whilst earning money is still the main purpose of investing in crypto, nowadays there are a variety of platforms that allow users to engage in enjoyable activities whilst making profits at the same time. For example, individuals that love gaming can invest in crypto projects that are gaming-based. The ability to play video games and earn money simultaneously is something that wouldn’t have been possible 10 years ago.
What Is The Impact Social Media Had On Crypto’s Development?
As technology has been developing, so has social media, working hand in hand together. Social media became a big part of the 2010s, with Instagram, Twitter, and Snapchat now being some of the most used apps. They have impacted the success of crypto majorly.
Social media is used for individuals to share their opinions and hobbies and create discussions with strangers worldwide regarding any situation they like. Sparking conversations and debates on crypto and its rise in society has shown significant positive effects on the crypto market.
A prime example of this is meme coins and NFTs. Both are parts of the crypto market and rely heavily on social media and the online buzz surrounding them. A lot of crypto users use social media tools to find out the latest news in the crypto space such as using hashtags. By searching for a coin or even #crypto, individuals can find a variety of opinions and conversations surrounding the crypto space.
How FinTech Continues To Grow
Financial technology and crypto specifically is an ever-evolving market. With various projects currently in the presale stage, the big coins that were released 10 years ago, like Bitcoin, could one day be replaced.
Parody Coin (PARO) is an example of an upcoming crypto project that could potentially become one of the biggest coins in the market. As you may have realized from its name, Parody Coin is a meme coin. This suggests that it has great potential to do well as its success relies on the hype created online. With social media evolving just as much as fintech, they work hand in hand together to support each other’s success.
Parody Coin (PARO)