How Digital Assets Have Revolutionized the Way We Build Generational Wealth
A decade ago, if you asked people about their plans to build wealth, the most common answers would have been acquiring private equity, bonds, long-term real estate investment, hedge funds, and more. However, all that has changed in the past ten years. The dawn of decentralized finance (DeFi) has revolutionized the way people think of building wealth today and securing their futures. Today, an overwhelming number of people are building generational wealth with digital assets.
Building Generational Wealth with Digital Assets
Historically, generational wealth has been acquired via traditional investment streams.However, digital assets have provided a new and exciting alternative for investment opportunities in this day and age. According to the recent CNBCMillionaire Survey, an overwhelming 47% of millennials have 25% of their portfolios invested in cryptocurrency.
However, despite compelling signs that cryptocurrency is revolutionizing a new way to build generational wealth, only about 10% of US millionaires had more than 10%in crypto investment. Meanwhile, 83% of them have not been using cryptocurrency to build generational wealth at all.
Moreover, the widespread adoption of cryptocurrency as a compelling investment has started making waves in the wealth management industry. Brokers, wealth management firms, and private banks have seen a change in the way they are adjusting to cryptocurrency, its implications, and its rapidly evolving landscape. What’s more is that pension funds are also starting to invest in cryptocurrency.
The Humble Beginnings of Cryptocurrency
Even though cryptocurrency has only recently sprung into the mainstream investment industry and is considered to be one of the finest ways to build generational wealth today, the digital asset had humble beginnings. In 2008, a domain namedbitcoin.org was registered on the World Wide Web and thus began cryptocurrency’s journey. In 2009, Satoshi Nakamoto sent 50 BTC as the first-ever bitcoin transaction to Hal Finney.
Today, cryptocurrency has surely come a long way. This progress has been made over the last few years and has somewhat diluted the general mistrust that clouded digital assets. By 2020, Bitcoin had crossed many milestones, including its previous record of trading $20,000 for the first time in 2017. In March of last year, Bitcoin reached the value of $60,000.
In April of the same year, some of our world’s most established brands started acceptingBitcoin as payment. Then, in September, El Salvador claimed the honor of becoming the first country to approve Bitcoin as legal tender.
Industries Supporting the Use of Cryptocurrency
Investors used cryptocurrency to invest in many previously untapped or undiscovered industries.It resulted in them earning substantial wealth. A fine example of the grow then joyed by investors who invested in tech companies flying under the radar isShopify, as it exploded in value. Investors who recognized the potential behind these brands and companies and invested in them enjoyed a massive return in their investments.
However, even with many people using cryptocurrency to build generational wealth, it has a lot of room to continue growing. Today, experts are predicting that Bitcoin’s projected value is on its way to competing with gold. It can potentially reach $100,000 within the next five years!
What Makes Digital Assets So Attractive?
The attraction of building generational wealth with digital assets lies in many factors, including the fact that they are decentralized. It essentially means that no controlling or central authority can enforce any type of censorship on your assets or tamper with them.
Moreover, cryptocurrency is not the sole digital asset mined from a blockchain as non-fungible tokens (NFTs) have also seen a significant uptrend in their popularity over the past year or so. NFTs enable creators to trade arts of all sorts, including audio, video, and photos, which are all stored on the blockchain.
Baanx and Its Role in the Mass Adoption of Digital Assets
One of the leaders in the decentralized finance space is Baanx, a company that builds the infrastructure needed for the mass adoption of digital assets. It helps corporations and consumers harness cryptocurrency in a bid to change how our world interacts with crypto investments.
This fin-tech aims to see people creating more use cases for their digital asset capitals. A fine example of this aim is the recent FCA approval the company received for its Crypto draft product, designed to enable users to borrow loans based on their crypto portfolio.
Baanx was established in 2018 by a group of innovators with a combined experience of100 years in the banking industry. The company was built to tap into the endless potential of digital assets and their inherent use. Today, Baanx has already partnered with leading industry giants, including Tezos and Ledger.
Moving forward, this fin-tech company wishes to replace traditional fin-tech services by nurturing trust and promoting transparency in the digital asset market so that more and more people start using cryptocurrency to build their generational wealth.
Baanx is powered by BXX, its native utility token, and has a unique infrastructure that enables users to send, spend, and manage their digital assets smoothly and securely. It allows them to receive rewards for their activities and use of the platform. Based on the amount of BXX, the token rewards the users with the network-fee distribution. It will also enable users to enjoy Crypto drafts in the near future. Moreover, platform users can stake tokens for liquidity rewards and earn BXX for staking stable coin.
The Bottom Line
If you’re looking to build generational wealth, investing in digital assets will provide you with a refreshing, compelling, lucrative, and secure alternative to traditional investments from banks. As enterprises like Baanx continue to create more use cases for cryptocurrency and keep being the pioneers of this digital asset, more and more savvy investors will continue benefiting from early investments.
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