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Players in the financial industry are increasingly warming up to the idea that cryptocurrencies will stay here. In most jurisdictions, favorable cryptocurrency regulations have emerged.However, the most important guideline for the growing acceptance of cryptocurrencies as a legitimate payment method comes from the United Kingdom.
Recent data show that the UK financial industry believes that cryptocurrencies may exist alongside traditional payment systems. According to a survey conducted by the International Association of Money Transfer Networks (IAMTN), most financial industry leaders say that the potential of blockchain technology and cryptocurrencies lies in their ability to eliminate intermediaries and facilitate immediate payments. believe.
Research also found that most business leaders believe that cryptocurrencies are an opportunity for endless opportunities, especially in cross-border payments.
The discovery of such positive cryptocurrencies represents the best paying cryptocurrencies that have potentially gained a position in the market. The most efficient way to facilitate such payments will be to record the most profits for the future.
Among the top 100 cryptocurrencies by market capitalization, some cryptocurrencies meet this criterion and hold potential for future growth.
Let’s take a look at some of the most potential for growth.
Litecoin (LTC) has been around for some time. Despite underperforming the market in Brulan in 2021, Litecoin’s potential as a payment cryptocurrency remains one of the best. Litecoin runs on a consensus mechanism similar to Bitcoin, making it one of the most secure and decentralized cryptocurrencies. One of the things that makes cryptocurrencies attractive for cross-border payments is that this is a plus given the inability to censor cryptocurrency payments.
In addition to the fact that Litecoin cannot be censored, LTC transactions are considerably cheaper than Bitcoin transactions. This makes it an attractive option for anyone looking to make cross-border payments. For this reason, Litecoin is on the list of cryptocurrencies that could work now that the financial industry and regulators appear to be embracing the reality of crypto as an equal player in the cross-border payments market. ..
Stella (XLM) is another cryptocurrency that stands out in the cryptocurrency payments market. Stellar, like XRP, was designed for the cross-border payments market. For years, Stellar has been adopted at its low price and high speed.
In addition, KYC can be incorporated into Stellar payments. This not only reduces regulatory risk, but also brings Stellar’s credibility as a legitimate tool for cross-border payments that is aware of modern issues such as terrorist financing and money laundering. This factor is likely to drive the adoption of XLM and can have a positive impact on its value.
Like Litecoin, Bitcoin Cash (BCH) has a consensus mechanism similar to Bitcoin. This provides an element of security and decentralization that is unmatched in most cryptocurrencies. Bitcoin Cash transactions are faster and cheaper than Bitcoin. As a result, BCH adoption has been the focus of attention in the last few years. The future of BCH looks bright as adoption grows with the acceptance of cryptocurrency payments.
