Neil here.

In my opinion, one of the most interesting trends I’ve seen come out of the COVID-19 crisis is a growing emphasis on financial technology (fintech) development and microcurrencies.

Even before we entered this economic downturn, fintech was growing fast. In 2018, the global fintech market was worth around $128 billion, and it’s expected to hit $310 billion by just 2022.

But COVID-19, and the massive amounts of people who are still without work around the world, have forced many to advocate for fast-tracked development in the fintech space.

In the United States alone, government officials introduced two new fintech-based pieces of legislation in March and April alone: the “Banking for All Act” and the “Automatic BOOST to Communities (ABC) Act.”

Both of these acts promote the use of “digital dollars” to streamline distribution of stimulus relief funds and other government assistance by the Fed.

Even outside of the government, developments in this space are moving at lightspeed.

Even when our markets turn around more permanently, the move to democratize and decentralize finances beyond traditional banking is only going to keep gaining momentum… and with it will come a stronger push for digital microcurrencies on a wide scale.

Here’s what I’m expecting in the very near future:

The Democratization of Financial Success

Bank accounts provide a convenient and secure place to save your money, and having an account can help you build up your credit and interest.

However, a 2017 survey by the Federal Deposit Insurance Corporation (FDIC) reports that around 25% of U.S. households are either underbanked or unbanked… meaning that that these people either have very limited access to a bank, or no access at all.

And Bloomberg reports that big bank chains – like J.P. Morgan Chase, Wells Fargo, and Bank of America – are pulling their branches out of low-income areas in favor of wealthier areas.

In fact, between just 2014 and 2018, 1,915 more branches closed in low-income areas than opened, according to S&P Global.

To me, these reports signal that the U.S. is in desperate need of equality in banking.

Because when big bank chains move out of low-income areas, they take with them a wealth of opportunities and resources that are useful for building savings accounts and mitigating financial crises.

Luckily, there’s a wave of new tech that could change everything…

Microcurrencies Can Save the Day

I think that microcurrencies have the potential to fix the banking inequality problem and democratize banking for all. These currencies rely on digital technology… meaning that people may no longer have to rely on a physical bank to store their money.

And because of their decentralized model, microcurrencies can create secure transactions on a global scale, so more people – including investors and entrepreneurs – can take advantage of potentially lucrative opportunities, even outside of their own region and country.

When the big banking walls are lowered by new financial technologies, we’ll see a more secure world where even more people are connected and empowered with the right resources for financial success.

And that’s what we’re all about here, isn’t it?

Microcurrencies not only have the potential to make banking more accessible way more people… they also have the potential to generate millions of dollars in profit for those who take advantage. The microcurrency market is easy to use and doesn’t require late nights of trading or super specific skills to turn a quick profit… but it’s a market that’s under the radar for most people.

But these burgeoning developments in the fintech space tell me one thing: microcurrencies are on track to gain some serious exposure very soon.

In fact, analysts are predicting a market event that could materialize as the “largest economic shift in society” by just July 30th… meaning that microcurrencies could explode and create a new generation of high-wealth individuals.

My colleague and friend Tom Gentile – one of the country’s most successful microcurrency traders – has the full scoop on what you need to know to take advantage of this opportunity. Because one thing’s for sure… you’re going to want to learn everything you can about microcurrencies right now before this information hits the mainstream.

Just click here to learn all about it.

I’ll be back soon with another update.

Until next time,

Neil Patel