The cryptocurrency industry has grown rapidly over the past decade and more, and it has grown in two different ways. The first has been the number of people getting involved, and the amount of money invested into crypto via a variety of crypto options.

Secondly, we are also seeing a number of new cryptocurrencies joining the industry, launching and doing all they can to attract interest. Is this good, and do we need more, or should the focus be on expanding the current options and trying to grow them even further, before anything else is created?

There are many industries that strongly support crypto, and some of them, such as the gambling industry, like the fact that there are many different types of crypto, so they can offer these varieties to players.

From this guide here, you will see that many casinos offer various payment methods to players, including crypto, and many different types of crypto. Are these options what we need so that those looking to invest can find something that perfectly suits their needs and demands from the currency, or should we be looking for fewer options?

This would mean more people getting involved in fewer options, which should mean more activity, larger values traded, and ultimately, more stability for the currency.

Kotak Securities Banner on Trade Brains 500x500

Can All Smaller Cryptos Survive?

The biggest problem in the future if we see continued investment in new cryptos is that the chances of surviving for these smaller cryptos are only going to get smaller. The industry is in a strong position, but perhaps not strong enough to be able to withstand a continued influx of newcomers to the market.

For the sake of the bigger picture, crypto cannot afford to have regular stories about currencies struggling and being worth very little or even worse, leaving the market for good.

Although these would all be very small names, they would make an impact, and that could potentially put people off from investing, even in the bigger names that have more stability.

A Balance Between Choice and Stability

What we need to find for the industry is the balance between having great choices for people, and many options for companies to offer if they want to accept crypto, and stability between the options. At the moment, things look pretty good inside the industry, but of course in the world of crypto, it doesn’t take very long for things to change.

There will be a moment when it is better to see further investment in what we already have available, rather than investing in something new, even if someone has what appears to be a great idea. There is no set plan and no definite number that would be perfect for the industry.

However, there is an area that is the right area to be in, and this is where the crypto industry needs to land itself over the coming years, in order to thrive and push forward, while continuing to look after those who are already involved. 

To stay updated with the Latest Stock Market news, download our app here!

For editorial purposes, contact

Start Your Financial Learning Journey

Want to learn Stock Market and other Financial Products? Make sure to check out, FinGrad, the learning initiative by Trade Brains. Click here to Register today to Start your 3-Day FREE Trail. And do not miss out on the Introductory Offer!!