Why You Need to Consider Cryptocurrency Investment?
by Mashum Mollah Small Business Published on: 26 November 2017 Last Updated on: 19 October 2024
People invest in various niches for different reasons. You definitely know about stock and gold investments. It’s not new, not anymore. Ideally, investors are trying out newer ventures. If you feel like you need a new, challenging investment opportunity, you might want to try cryptocurrency. Essentially, cryptocurrency is a digital currency that has been created through extensive encryption techniques.
Until 2009, it was a purely academic concept. However, things changed with the inception of Bitcoin. Over the years, this form of investment has gained traction and now many people all over the world are pumping financial resources into this new venture.
Should you consider investing in cryptocurrency?
This is one question most potential investors keep grappling with. The main challenge is insufficient knowledge on the same. It might not be as easy as investing in common shares or gold. With deeper insights into digital currency, one can easily realize why pursuing this investment might be worth your consideration. We will consider some of the reasons why you might want to consider investing in cryptocurrency.
There is no doubt that cryptocurrencies have acted as major disruptions in the financial ecosystems of the world. Given how traditional, as well as new investors, have taken to it, the scope and future of digital currencies look bright. Getting into the game at this early stage can help yield a great result. However, you need to understand how the system works and make your decisions based on the right information rather than on impulse and emotions. You also need to understand things like digital wallets and, if you are going to be exchanging your cryptocurrency, exchange platforms (you can find out here about one such platform that you may wish to consider using).
However, based on the recent performance of Bitcoin and Ethereum, experts point out that this is the best time to invest. You need to understand investments in cryptocurrencies as a long-term investment option. This means that cryptocurrency in estate planning can also be on the radar for you and your family. Financial experts state that even 0.01 Bitcoin can turn into over a million dollars in the next ten years!
Bitcoin’s growth is on the rise
It is not a secret that since its adoption in 2009, Bitcoin has steadily risen in value. It remains the most popular cryptocurrency. Those who invested in Bitcoin at the beginning have realized significant growth in profits. Despite the myths and controversies surrounding the sustainability of Bitcoin, many people agree that the value of this cryptocurrency will forge upwards in the future. That is something you might not want to miss.
Possible conducive regulations
Actually, it is the shortage of regulations and anonymity of its operations that makes cryptocurrency a hard nut to crack for many people. The few incidences in which criminals have opted to use cryptocurrencies haven’t made things any better. In the future, this sphere is looking forward to the introduction of stricter regulations to govern the operation of cryptocurrency. With such interventions, investors can expect to see fair level playing fields, which are favorable for growth and development.
Ethereum is gaining ground
If Bitcoin is gold in the cryptocurrency realm, then Ethereum must be silver. As a platform, Ethereum allows the creation of decentralized applications as well as a currency, known as Ether. With major players such as Intel and Microsoft already investing in this currency, investors can expect the future to be brighter and more promising. With friendlier regulations in the market, we can expect greater surges in the prospects.
What lies ahead?
It is true that many investors are still cautious as far as the issues of cryptocurrency are concerned. While some are willing to make small investments as they observe the markets, others are keeping their cards close to their chests. Whichever way you view it, it is advisable to consult a financial analyst for extensive knowledge on the same. You can gain insight from sources like https://www.crunchbase.com/person/jason-guck-3 | Jason Guck and learn more on the same.
Remember to beware of the potential pitfalls and consider all the risks involved in jumping right in. Just remember that we cannot rule out the possible integration of cryptocurrency in the mainstream currency in the near future. When that time comes, you need to be in the game already!
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