The need for instant gratification is one of the biggest reasons why the majority of investors are venturing into crypto-currencies.

So says Marcus Swanepoel, CEO at Naspers-owned crypto-currency firm Luno, giving his insights into the future of Bitcoin and how digital currencies are going to evolve.

Formerly BitX, Luno facilitates Bitcoin storage and transactions such as buying, selling and paying through its Bitcoin wallet services. Luno also operates exchanges between traditional currencies and Bitcoin.

The company was founded in 2013 and the exchange was set up by Timothy Stranex, a BSc graduate from the University of Cape Town.

The price of Bitcoin, the world's most popular crypto-currency, has shed about 80% of its 2017 value when it traded at $20 000. At the time of publishing, Bitcoin was trading at $3 546.

Bitcoin fell to $3 500 as $5 billion was wiped out of the crypto market, and major digital assets like Ethereum recorded a 6% drop against the US dollar.