Over the last 9 years, cryptocurrency has grown tremendously. Bitcoin used to be the only coin on the market, but today it shares the crypto market with 1800 other cryptocurrencies. Cryptocurrency exchanges are on the rise as well, with 500 currently in existence.
Despite this growth, there has not been a worldwide adoption of cryptocurrency. Consumers have demonstrated that while cryptocurrency is a great idea in theory, they do not automatically trust it.
It goes back to the old saying, “respect is earned, not given.” Consumers want their investments and the personally identifiable information (PII) they share within a currency system to remain safe and secure. These objectives must be met to build trust for cryptocurrency among users and regulating entities. Without meeting these objectives, worldwide adoption of a cryptocurrency system will continue to be scrutinized.