Japan is leading the charge in the crypto economy and its government is most supportive of the new trend, unlike its Asia neighbors South Korea and China, who have imposed draconian laws against cryptos in an attempt at stemming their tide.
The Japanese government has always seen cryptos as an instrument that can be used to bolster the stagnating economy, which has shown modest growth in the last three years. The fact that the Japanese consumer is ready to use cryptos for legal payments is a liberal act that has set Japan on a path of no return as introducing any manner of taxes or limitations now would trigger massive public discontent.
Many Bitcoin holders and investors believe that the cryptocurrency is turning into a mainstream asset. This has launched multiple debates among financial and legal experts on the issue of whether the cryptoasset is in need of regulation before its use spirals out of control. Skeptics, such as Japan’s Finance Minister Taro Aso, firmly believe that Bitcoin has not yet proved to be “a credible currency.”
One analysis concluded that in 2017, 2.9 million to 5.8 million unique users had a cryptocurrency wallet, most of them using Bitcoin. Major financial institutions like JPMorgan and Goldman Sachs are reportedly setting up or considering establishing cryptocurrency trading desks of their own to take up a piece of the pie.
Though the crypto market is still relatively new and lacks many of the traditional institutions of a civilized market, there are projects on the market that seek to indemnify or mitigate the associated risks that investors take when deciding to invest in projects. Cryptics is one such project that seeks to offer the necessary instruments for alleviating the situation with uncertainty. The concept behind it is to support market participants by providing liquidity on exchanges and a safety cushion for retail investors by creating a platform that connects market players and develops algorithms to predict changes in the value of cryptocurrencies. Such instruments based on highly advanced scoring models involving machine learning and AI are incomparable with human intuition that even the luckiest and most prudent investors could ever be endowed with. The multitude of factors involved in predicting a cryptocurrency’s rise or fall are all taken into account by the algorithms that Cryptics employs. Investors should consult such projects as the expense is well worth the ensured profit and peace of mind.