Cryptocurrency, specifically Bitcoin, is taking the world by storm. Many people have made it their new year’s resolution to invest in cryptocurrency. The most common question asked is “why should I invest in cryptocurrency?”
Here are 5 reasons why you SHOULD invest in cryptocurrency:
1. Better investment than stocks
2. Safer than a bank account
3. More profitable than gold
4. Safer than real estate
5. No boundaries or limits
On the other hand, here are 3 misconceptions about investing in cryptocurrency:
1. It’s too late to start investing
2. Cryptocurrency is only for tech geeks and nerds
3. It’s too risky
Many people have been asking me about that last one and I agree that it is a very valid concern because there are many scams out there that can take away your hard-earned money in a blink of an eye! You need to really do your research before you decide on what type of cryptocurrency you want to invest in and always remember to never invest money you can’t afford to lose!
With the surge in popularity of cryptocurrency, I’ve been asked a few times about whether or not people should invest in digital currency. My answer has been and always will be: yes. In this blog post, I want to go over a few reasons why you should invest in cryptocurrency along with three misconceptions.
Reason 1: The Market is Growing
The market for cryptocurrency is growing by the day. Right now, there are plenty of people who are interested in investing but have no idea where to start. Bitcoin and Ethereum have already broken into mainstream media but there are so many others out there that haven’t had their big break yet. For every big cryptocurrency like Bitcoin, there are 5 more that have the potential to be just as successful as Bitcoin is today.
Reason 2: It’s Not Too Late to Buy
Many people think that it’s too late to get into the market because Bitcoin has increased so much in value. That’s not true at all! It’s still early days for cryptocurrency and it’s only going to grow from here on out. The price of cryptocurrencies aren’t going to decrease any time soon so now is the perfect opportunity for you to buy some digital currency and hold onto it for a while. This leads me into my next point…
As one of the most volatile assets in the world, cryptocurrency has become a very popular topic. With the market up and down in 2018, it is a great time to invest and/or learn about it. Here are 3 common misconceptions and 5 beginner tips to help you get started.
Myth 1: Cryptocurrency will replace currency.
This is not true, at least not any time soon. There are many issues with global applications of cryptocurrency. For example, there are countries like North Korea that do not allow access to the internet or phone lines making apps impossible to use. Also, shop owners and others who take payments cannot accept certain forms of cryptocurrency, which means having both is required for daily living.
Myth 2: Cryptocurrency is a company stock.
Cryptocurrency does not represent any company or business organization; therefore, it does not have earnings reports or profit margins. Instead, all transactions are recorded through blockchain technology and can be viewed by the public on an exchange site such as Poloniex or Bittrex. The value is based on supply and demand only.
Myth 3: Cryptocurrency is a bubble waiting to burst.
While some may argue that cryptocurrencies have no real value, the fact that Bitcoin has been around since 2009
5 Reasons to Invest in Cryptocurrency:
1. It’s simple to use cryptocurrencies, no need to have a bank account. All you need is an internet connection and your good to go!
2. You can make a fortune investing in cryptocurrency, especially if the price starts rising like it has been recently!
3. Cryptocurrencies are anonymous, which means you don’t have to worry about people stealing your ID or tracking your purchases online. This makes them perfect for those who want privacy while making transactions.
4. Cryptocurrencies are decentralized so no one can control them or manipulate their value by printing more money out of thin air like governments do with traditional currencies like USD or EURO.
5. There’s no limit on how much money you can invest in cryptocurrencies unlike traditional stocks where there’s always some sort of cap set by regulators at any given time period (usually around 10% per year).
This is just another reason why we think people should invest their hard earned cash into cryptocurrency rather than traditional stocks and bonds which may not be as safe anymore thanks to central banks’ quantitative easing programs!
5 Reasons to Invest in Cryptocurrency
Over the past several years, cryptocurrency has been gaining more and more attention. Many people have heard of the main currency, Bitcoin, but they may not be aware of the other currencies that are within the crypto space. The cryptocurrency industry is continuing to grow and become a huge asset class. Although there are over 1500 cryptocurrencies, many of them will die off over time or will never even get started.
However, investing in crypto has many benefits when compared to stocks or bonds. If you’re still on the fence about investing in crypto, here are five reasons why you should put your money into a cryptocurrency.
1) It’s RISKY!
2) No One Has Your Back Like You Have Your Own
3) Lower Fees Than Traditional Investments
4) It’s Easy to Get Started with Crypto Investing
5) Cryptocurrencies Are Decentralized
Like any other currency, the value of cryptocurrency can change. Cryptocurrency is still a new asset class and has an uncertain future. It’s important to remember that cryptocurrencies are not stocks and aren’t tied to any company’s success.
Between January 1, 2017, and December 31, 2017, Bitcoin rose in value from $997 per coin to $14,152 per coin, a staggering 1395% increase. Ripple went up 36000% during this same period.
Many other cryptocurrencies followed in Bitcoin’s wake: Ethereum rose 9100%, Litecoin rose 5200%, and Dash rose 18100%. All of these cryptocurrencies were started during or after 2014.
Investing in cryptocurrency is similar to investing in stocks and bonds. You can invest in cryptocurrency hoping to earn a profit when it rises in value, or you can use it to buy goods or services today (though this option is not yet widely accepted).
It is often said that the world has been revolutionized by the invention of cryptocurrency. As of now, there are cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Ripple just to name a few. Cryptocurrency has many benefits that make it an attractive investment for many people including:
Security – The transactions are secure and no personal information is shared or stored in the system. There is no risk of identity theft by using cryptocurrency.
Low transaction fees – Compared to other forms of payment such as credit cards, cryptocurrency has a much lower transaction fee because there are no third party interruptions during the transaction process.
No inflation – Cryptocurrency cannot be counterfeited or double spent because all transactions are recorded in a public ledger called blockchain as well as verified by all nodes in the network. In addition, there is a limited amount of cryptocurrencies that can be mined making it difficult for inflation to occur.
Trading convenience – Cryptocurrency can be bought and sold on exchanges quickly and easily. Trading hours and location are not restricted because they occur online through various exchanges. This can also facilitate worldwide trade with ease.
Decentralized – Cryptocurrency works without banks or any other financial institutions which makes it very difficult for governments to regulate or control it. Although this