There’s no hiding the fact that 2022 was a tough year for crypto. Several crypto empires collapsed, various crypto influencers disgraced, and hacks, scams, and unjust policies really took away crypto’s shine. So, it is time that cryptocurrency gets out from under the sway of these crypto villains and gets its shine back! In a recent cryptocurrency conference in Denver, Colorado, an anthem presented by a group of singers dressed in orange onesies hoped to do just that. The song started off by listing the notorious crypto villains of 2022, from Do Kwon, the founder of TerraUSD, stablecoin and LUNA, who ended up defrauding the public with his crypto schemes. This was an especially bad look for crypto and crypto influencers because Do Kwon was a major personality in the crypto world, and the way he defrauded the public was humiliating. But surprisingly, Do Kwon wasn’t the only dark spot in crypto’s glory.
Sam Bankman-Fried, a once beloved crypto personality and the founder of FTX, turned out to be a fraud and a crypto villain hiding behind his supposedly legitimate and incredibly famous crypto empire. FTX was so famous that it essentially poured millions into its marketing campaigns, sponsorships with Mercedes Formula 1, naming rights to the Miami Heat stadium, and several esports deals; the crypto giant was unstoppable. But soon, it all came crashing down when Bankman-Fried’s fake image started to fall apart. There were reports of drug abuse, shady donations to officials, luxurious acquisitions, and the elephant in the room; he stole $10 billion from FTX customers! This deception caused major disruption in the industry and, of course, a very bad look for crypto. Partly why the FTX scandal became so famous is because major celebrities and brands got involved with FTX, and it all became very public when it all went down. All of this translated to crypto being in a really bad spot and attracting all kinds of wrong attention.
Recent hacks and crypto scams didn’t help advertise that safe, and secure decentralised currency image crypto relies on. The General Bytes Bitcoin ATM hack that resulted in over $1.6M in losses, and several other hackers that stole billions in crypto in 2022, tarnished the safe and secure image of crypto. Of course, crypto hacks have mostly been due to the lack of security crypto-exchange platforms offer their users, which is why it is advised to only trust reputable and high-end crypto-buying platforms.
So, consumer distrust, shady investments, and disgraced crypto influencers. All of them point to crypto getting a bad reputation. It is crystal clear that the crypto industry needs rebranding and cleansing to make 2023 a good year for crypto and in hopes of getting its glory back! Make no mistake; crypto still has that same versatility and potential it had back in its heyday, so the technology that the future of our financial system depends on is still there! It just needs a bit of rebranding to gain the public’s trust back. And the industry is ready to retaliate!
In light of these events, the industry has been hard at work expanding the applications of crypto, and with the integration of AI, crypto has already started to get that shine and glory back in the buzzing community of Silicon Valley. Crypto finance companies have also started to integrate more functionalities to engage users and gain their trust back. Government officials have also been working on regulating this decentralised way of life to give crypto a more trustworthy and legitimate look despite recent events. So, it is no surprise that people are, once again, interested in crypto, and major brands are making efforts to integrate crypto to excite customers.
All said and done, crypto will make a full comeback in 2023, and it has already started. What you need to do is ensure that you only use the most trusted and highly reputable crypto-buying platforms. This will protect you from any scams, attacks and deceptions like the ones the public experienced in 2022. A premium crypto-buying platform like Voltcoins is exactly what you need! Offering a super fast KYC process and secure, hassle-free transactions, Voltcoins is the perfect partner for your crypto adventures. Users have to option to buy Bitcoin (BTC), Ethereum (ETC), LiteCoin (LTC), and Tether (USD). You can pay for your crypto using a variety of payment options, including bank wire transfers, credit card payments, as well as Interac. If you’re looking for a premium and trustworthy crypto platform, Voltcoins is the way to go! Voltcoins makes it easy to get started with crypto, place your order with Voltcoins now.
