Cryptocurrency continues conquering the world of finances, and the number of cryptocurrency enthusiasts is growing. Should you join them? Consider these 5 reasons for becoming the next cryptocurrency investor.
In 2017, Bitcoin propelled into the spotlight and started growing in price at a remarkable rate. Trading cryptocurrency has become a widespread trend, and the number of people who invest in crypto has exceeded 500 mln. Crypto enthusiasts claim that Blockchain and altcoins are here to shake the modern economy to its core. Are we witnessing a major shift in the global economic system? Definitely. But should you invest in cryptocurrency? Here are at least five reasons for considering it.
1. Your money always stays yours
The lynchpin of Bitcoin's success is the technological supremacy of this Blockchain. Thanks to such innovation, electronic transactions can be made much faster and safer. Blockchain encrypts data preventing access to it from all internal sources at every stage of transaction processing. The blocks containing data are stored in a decentralized manner which means the information cannot be deleted or forged.
While banks, where we store our funds, can be robbed or simply closed after claiming bankruptcy, when you invest in cryptocurrency, your money stays yours forever. Make sure that you work with reliable exchange platforms only and use official crypto wallets with multi-layer protection. Ideally, you should use a hardware wallet to ensure 100% protection of your assets.
2. No government involved
Bitcoin Blockchain offers a revolutionary approach to asset handling: from now on, no middlemen such as banks or governments are required for transactions and exchange. They simply have no control over the circulation of digital assets and cannot access the data related to financial operations done with Bitcoin. Therefore, it disrupts the system that's been around for centuries and brings the power back into the hands of ordinary people.
If you care about liberty, the nonaggression principle, or economic freedom in general, you should do everything you can to use Bitcoin as often as possible in your daily life Roger Ver aka “Bitcoin Jesus”
Integrity and safety of virtual money are one of the main reasons to invest in cryptocurrency. No matter what’s the official fiat currency in your country, and which fluctuations it is experiencing – cryptocurrency does not depend on it. While some countries practice fine withdrawal from citizen’s bank accounts, it cannot happen in the virtual environment – no third party can access your crypto wallet.
3. Blockchain plays a crucial role
Although it allows for anonymous transactions, Bitcoin is built on the principle of transparency. That means that the details of financial operations are stored in the Blockchain and can be viewed when necessary. This feature might be highly valuable for public transactions. The whole community can reap benefits from a crystal clear system of asset allocation. Here we tackle not the financial issue only — Blockchain allows us to handle all the other information as well.
Altcoins being widely adopted in a wide range of spheres: ICOs in different niches are being introduced every day, and usual businesses start implementing Bitcoin payments as well. This is a versatile currency that erases international borders. Thousands of Bitcoin ATMs are already installed in large cities around the world, and it's only the tip of the iceberg. BTC and altcoins provide us with umpteen possibilities replacing all existing fiat currencies both theoretically and practically. It becomes a more convenient, safer and faster way of payment and transfer.
4. Investment is as simple as never before
Wonder “How do I invest in cryptocurrency?” Everything is easier than you think! Now, every person with access to the Internet and free funds can make an investment. Here’s a short scheme of how it works:
You need to have a plastic card to purchase crypto online.
Create a cryptocurrency wallet. It can be either the wallet for some certain coins or a multicurrency wallet.
Find where to invest in cryptocurrency. As a rule, people make transactions in online exchange platforms.
Create a purchase offer, or find ready requests to answer.
As soon as you make a purchase and pay for the crypto, coins will be transferred to your wallet.
Now you only need to track cryptocurrency fluctuations and purchase and sell coins in a timely manner to make a profit. The golden rule of trading is NOT to invest what you can’t afford to lose. Invest the money that you can live without, and don’t panic after the first currency fall – it’s better to wait over.
“What cryptocurrency should I invest in?” Bitcoin is not the only option – if it was easy to mine a few years ago, now it’s impossible to obtain in any way except for buying. Don’t despair, there are hundreds of altcoins! They aren’t equally reliable, and you need to analyze them carefully. With boatloads of information online, you can make certain conclusions and make the right choice.
5. Forecasts are promising
As a potential or real investor, you focus on long-term viability and profitability. If you analyze every cryptocurrency shift, it can drive you crazy – you can be sure that you’ve made a wrong investment decision. Being in panic, you can sell the coin for a lower price than you purchased it for while holding would be a better idea.
Why invest in cryptocurrency for long terms? Cryptocurrency fluctuations are inevitable. They happen all the time, that’s why making short-term predictions is harder than long-term ones. Despite the major surge of cryptocurrencies which happened in January 2018, Bitcoin and other popular cryptocurrencies are likely to grow within 2-5 years. Most forecasts are optimistic. Therefore, if you’re looking for a serious investment with serious profit, opt for longer terms, at least 1-2 years.
Cryptocurrency creates a new era for the modern economy, a utopian system where everyone can stay confident in the privacy of their assets by transferring them around the globe without limitations. It provides us with new possibilities, and getting profit is one of them. Being among the first to buy crypto, you create history and help the world economy to make a serious switch.
“Should I invest in cryptocurrency?” The answer is resounding “Yes!” Choosing cryptocurrency as an investment is a wise solution if you place a bid for the right horse. Don’t hesitate to invest in technologically advanced Blockchains and popular coins – most of them will sooner or later gain momentum to grow in price, which can bring you considerable profits.