Four major Bitcoin trends for 2019

Rage Review : Now is usually the time when people start to evaluate themes and industry trends that may be popular in the coming year, and the Bitcoin field is no exception. Investors and enthusiasts may notice what trends will happen. This article will introduce four major trends: the widespread adoption of Bitcoin-compatible ATMs, more central banks will get involved in Bitcoin and other cryptocurrencies, Bitcoin tourism will increase, and smartphones that can store Bitcoin will increase.

Translation: Miracle Zhang

Now is usually the time when people start to assess the themes and industry trends that may be popular in the coming year, and the Bitcoin space is no exception. Investors and enthusiasts may take note of which trends will occur, and this article will introduce four major trends.

1. Bitcoin-compatible ATMs are widely adopted

Reports indicate that 2019 will be the year Bitcoin ATMs take off in cities across the United States. Chicago recently added 30 new machines, bringing the city’s total to nearly 100, with Philadelphia having about the same number.

These ATMs can only dispense Bitcoin, but traditional ATMs in New York are now also compatible with Bitcoin. Interested parties can create an account with Bitcoin payment provider LibertyX, and after passing an approval process, they can use the ATM debit card to purchase up to $3,000 worth of Bitcoin per day.

These ATMs could encourage people to start using Bitcoin or start dealing with cryptocurrencies more widely than before. People are already used to using ATMs for their financial needs, so getting Bitcoin from ATMs won’t be difficult either.

2. More central banks will get involved in Bitcoin and other cryptocurrencies

One reason people often like Bitcoin is that they can use it without a bank account. However, one of the trends that may become apparent in 2019 is that central banks start backing cryptocurrencies by supplementing their gold reserves.

At Israel’s first Bitcoin Summit, Bitcoin pioneer Nick Szabo outlined why he predicts more countries, especially in places suffering from extreme conflict or financial mismanagement, will begin using cryptocurrencies, and he also believes central banks will begin to supplement their gold reserves with cryptocurrencies.

Szabo explained: “For example, there are situations where the central bank cannot trust foreign central banks or government bonds. One solution that already exists is to have the Swiss government do custody - but this is not a trust-minimized solution. The Swiss government itself is also subject to political pressure, so a more trust-minimized solution is cryptocurrency.”

In 2018, Christine Lagarde, managing director of the International Monetary Fund (IMF), also expressed why central banks should issue cryptocurrencies. This trend may not be fully adopted in 2019, but it is clear that central banks should not shy away from Bitcoin or the entire cryptocurrency industry.

Just this week, JPMorgan Chase announced that it would launch its own “cryptocurrency,” JPM Coin, which has received a lot of criticism.

3. Bitcoin tourism will increase

In May 2013, someone spent 10,000 BTC on pizza, but the recent trend is that many companies and places encourage tourists to spend Bitcoin when traveling. In March 2018, the German Tourism Board began accepting Bitcoin.

Recently, an Australian beach town in central Queensland became the first cryptocurrency-friendly tourist city.

When people travel to different countries, the first thing they usually do is visit a currency exchange center. If this trend continues, people could forgo this necessity and travel with just Bitcoin. Doing so would require planning, but could ultimately make it more convenient for travelers who don’t want to handle traditional money when they’re out and about.

4. The number of smartphones that can store Bitcoin increases

A look at the future device plans of tech brands shows that smartphones will become integrated wallets for storing Bitcoin and other cryptocurrencies. In late 2018, HTC announced the Exodus 1, a blockchain phone with a wallet that people can only make purchases with cryptocurrencies.

Rumor has it that the Samsung Galaxy S10 will come with a wallet that provides access to cryptocurrency software via a trademarked invention called Samsung Blockchain KeyStore.

It’s too early to tell how successful such a phone will be, but if users prefer this method to purchasing hardware wallets, these early adopters could spark a more significant trend. Tech brands often watch what competitors do and, if they look viable, it won’t be long before they offer similar products.