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- Tekin Salimi-individuals losing the chance to get into the internet boom can now enter the growing blockchain industry
- Complexity in purchasing cryptocurrencies is a great challenge for the individuals in the space
- Before entering the crypto market, investors should follow some factors
Tekin Salimi had an interview with Yahoo News on Tuesday discussing the state of the cryptocurrency industry. Tekin Salimi, a corporate lawyer and a general partner of Polychain, will help clarify the crypto and blockchain industry’s current state. Salimi being a thought leader in the cryptosphere, will break down the implications of cryptos and provide insights into the industry’s future.
Opportunities bringing individuals into the cryptosphere
According to Tekin, the potential of blockchain technology that can eliminate more than 99% of the financial services is the most significant opportunity that pulled him in. Tekin also stated that the technology might disrupt several P2P internet services, which most rely upon and use daily. The motivating factor in getting into the cryptosphere is the scale efficiencies, which the blockchain could bring in the financial sector over the next decade. The opportunity provided by blockchain technology is as ample as the internet itself.
The complexity of buying cryptos is a great challenge
According to Tekin, the sheer complexity that comes along with acquiring cryptos is the biggest challenge. Indeed, he believes that various ETFs that are being introduced and directly for retail investors to obtain exposure to crypto tokens can help reduce the buying friction over the next 12-18 months. On the other hand, several fintech firms like PayPal and Cash App are increasingly providing crypto integration on their platforms, helping retain users to acquire such tokens. It can be concluded that the facts above can help facilitate new inflows of capital in the crypto industry.
Factors to identify before getting into crypto the crypto market
According to Tekin, education is the most important factor to begin as a crypto investor. Not a comprehensive education, but education regarding the industry and, most importantly, the underlying technology. On the other hand, the investors should keep track of various experts and project founders via social media. Moreover, investors should focus on investing in the underlying protocols and financial primitives. As the factor also plays a critical role in moving the cryptosphere forward. Tekin also highlighted that following the industry’s rapid movement; it’s hard to predict its future.
