Everything you need to know about cryptocurrency

As the global economy faces increasing pressures and uncertainty, more and more people are turning to alternative methods of saving and investing. One such alternative that has gained significant traction in recent years is cryptocurrency, with Bitcoin leading the way. Shireen Ramjoo, the founder of Liquid Crypto Money, sheds light on the growing trend of using digital currencies as a savings tool during her recent interview with CNBC Africa. Ramjoo highlights the fact that Bitcoin, as an appreciating currency, has caught the attention of many savers who are looking to capitalize on its potential for growth. According to Ramjoo, the increasing value of Bitcoin has motivated individuals to hold onto their digital assets for longer periods, with the hope of cashing out a significant sum in the future. She emphasizes that the longer individuals hold onto their crypto assets, the more they stand to benefit from the appreciation in value. Having been involved in the cryptocurrency market since 2015, Ramjoo shares her personal experience of witnessing the significant growth of Bitcoin over the years. She reveals that she entered the market at a price of $260, which has since surged to over $2,600, marking a remarkable increase of over 1,000%. Despite the rapid growth of Bitcoin, Ramjoo remains optimistic about the future of digital currencies and dismisses concerns about a potential bubble burst. In response to fears of a market crash, Ramjoo offers a unique perspective, describing the current landscape as an 'evolution of money'. She emphasizes that decentralized cryptocurrencies like Bitcoin and government-issued digital currencies built on blockchain technology represent the future of financial transactions. Ramjoo points out that several countries, including Tunisia and Senegal, have already embraced government-issued cryptocurrencies, signaling a broader global shift towards digital currency adoption. Moreover, Ramjoo highlights the increasing trend towards digital currency usage across various sectors, including government initiatives to introduce their digital currencies. Countries like Sweden are exploring the implementation of digital currencies such as the E-Corona, signaling a global movement towards embracing the digital economy. Ramjoo emphasizes that the widespread adoption of digital currencies is inevitable, given the predominance of online money transactions globally. When discussing the risks associated with cryptocurrency investments, Ramjoo acknowledges the inherent volatility of the market and advises individuals to invest only what they can afford to lose. While acknowledging the uncertainties surrounding the cryptocurrency market, Ramjoo remains confident in the long-term potential of digital assets and believes that they represent a transformative shift towards a digital financial ecosystem. As the world transitions towards a more digitalized economy, the rise of cryptocurrency offers a glimpse into the future of finance. With growing acceptance and adoption of digital currencies, the traditional financial landscape is undergoing a significant transformation. The journey towards mainstream cryptocurrency usage may be met with challenges, but the potential benefits and opportunities it presents are too compelling to ignore. As Shireen Ramjoo aptly summarizes, the era of digital currency is upon us, and embracing this evolution of money is key to navigating the financial landscape of tomorrow.