Why you need to invest in cryptocurrency.
The adoption of cryptocurrency in this digital era faces an endless struggle day after day. There are various factors that affect the embracement of these digital currencies. This includes the regulatory issues on crypto markets across most countries and lots of controversies from the press on the blockchain systems. Also, the bigger percentage of consumers in the world today lack enough awareness on the same.
I understand that a quick navigation of the cryptocurrency world could be rather daunting. With the complex usage protocols, computing and the technological jargons especially, the whole idea can be quite confusing if you are still very new to this. However, with the right ground rules set in place, you can manage to understand wholly what the Crypto world entails. What you need is to do your homework and find the right sources for cryptocurrency information.
“By 2030, some form of Crypto will become the global reserve currency but it will not be based on what exists today. Existing cryptos need to transform or will disappear. Also around 2030 or so, the first Nobel Prize in Economics will be awarded to a Cryptoeconomist.”- Tom Golway
Enlightenment on this crucial topic will help the emerging economies of the world to have a better font in embracing and delving into the world of blockchain technologies and cryptocurrencies. And what’s more? The introduction of more altcoins might be the breakthrough that most people have been lacking in order to usher in their economic freedom.
Therefore, the main aim of this article will be to discuss the reasons why you shouldn’t ignore investing in the cryptocurrencies. Also, we will evaluate what the future of cryptocurrency has in store for us.
Should I invest in the cryptocurrencies?
If you are thinking about investing in the crypto world, well, you have come to the right place. Actually, I should say congratulations because this might be the best treat for you. If you are wondering why; cryptocurrencies are quite versatile therefore investing in them is comparable to any other highly speculative venture. In that, you could madly double your investment or lose it all at a go.
Cryptocurrencies have no intrinsic value unlike other currencies and that is why it all depends on what the buyer in the crypto market is willing to pay at the moment. And this makes the crypto susceptible to the most outrageous price swings. Although at times this might be a good fortune, it could also sign up the investors for huge losses.
A good example of what I’m talking about is the price surge of Bitcoin back in 2013 April when in a period of six hours the price plunged from $260 down to $130. This means that, in the cryptocurrency world you should be ready to stomach such kids of volatility. Otherwise, it’s better you look for some other fields of investment in due time.
4 Reasons why Cryptocurrency Might be the Best Thing to Invest in Today
The cryptocurrencies are proving to be a real game changer and could have a huge impact on how we do things. Actually, as we speak right now, who knows? There might be new altcoins being invented. Here are 5 reasons why now might be just the best time to invest in the cryptocurrencies.
1. The Crypto market is still in its infancy
The era of cryptocurrency is still less than a decade old. With the Bitcoin being launched just 2009 you can tell that the other altcoins are much younger. Like any other new market, the cryptocurrency market too is very volatile. This is because the buyers and sellers are adjusting to the new products and the massive swings in the prices are almost inevitable. As the market grows, the volatility might die down and there will be smoother curves for the investors.
2. The Cryptos come with real-world applications
Cryptocurrencies have made a shift from the anarchists to a mainstream means of exchange. Although it’s not entirely mainstream, the cryptocurrencies will soon enough squash its potential. Bitcoin is being accepted in most parts of the world as a means of exchange meaning that it has gained a widespread acceptance in the world today. Within the next five years actually, Starbucks will be accepting Ripple and Litecoin in this digital age.
3. There are Bigger Initial Coin Offerings
ICOs have become one of the favorite ways to raise the capital on most of the cryptocurrencies. Over the years they have become more extensive as well as legitimate. Therefore, this has increased the demand of ether as well as other blockchain networks built on the Ethereum network.
4. The involvement of institutions and banks
Cryptocurrencies have piqued the interest of major institutions and banks across the world. In this case, the hedge funds to most of the cryptocurrencies is increasing the demand of the cryptos. With the higher return potential on the cryptos, the major institutions are on their early stages of acceptance of the asset class.
The Future of Cryptocurrency and Fiat Currency
Despite the many negative aspects about cryptocurrencies out there, there is a very high chance that it will still flourish very well in the future. And the futurists are already everywhere claiming that the cryptos might actually replace the national currencies in most countries by the next 10 to 40 years. Cryptocurrencies are effective in the way they run and might be used for precisely every transaction in the few years to come.
Although most people are just about positive vibes on cryptocurrencies, there is still a small group of people who still think it’s great to be cautious before making any investments. It might be hard for the Bitcoin cryptocurrency to replace all the other altcoins like Ripple and Litecoin but it will add a new layer of value to the crypto market.
In that; the alternative coins will play a specific and focused role while on the other hand Bitcoin will be used as a medium of exchange and still help switch between the different currencies. The altcoins developers out there are now focusing on using the cryptocurrencies to incentivize most of the positive choices by the users.
The blockchain technologies and cryptocurrencies have the ability to change most of the things today. Although it’s unlikely that the fiat currency will be overtaken by most of these digital currencies, it’s possible that the cryptos will have a great integration in our current exchange system. With how things are; it’s important to educate yourself and know the trends of crypto market including the most popular coins we have today. The likes of Bitcoin, Ethereum, Ripple, Dentacoin, Litecoin and much more. You can subscribe to some of the best cryptocurrency newsletters like the; changelly.com or cointelegraph.com for the best cryptocurrency updates and news. However, the bottom line is to stay proactive, to buy a few cheap coins and learn the trend.
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