Twelve years after the first modern cryptocurrency was created, these alternative currencies are still very much around and growing. This means that it is not a scam after all.
During the first years of cryptocurrencies, many were skeptical about virtual currencies. The skepticism became more pronounced when some exchanges were hacked one after another. Aside from security issues, some people are still not involved in cryptocurrencies because they think that it is a complicated matter and it is not easy to understand.
But even then, the number of those buying cryptocurrencies is continually increasing. It is when the value of Bitcoin increased by 1,350% in 2017 that more people were lured to consider investing in cryptocurrencies. That phenomenon made more people see cryptocurrency as a highly profitable investment. Although that may be the ultimate goal of every investor, there are other reasons to invest in cryptos this 2021.
It’s Not Very Complicated After All
In the early years of cryptocurrencies, social media and other related forms were not as popular as now. Today, these networks are providing avenues for people to learn new things or get the information they want or need. To some people who had some hard times understanding cryptocurrencies, tutorials on YouTube and interactive websites have become ways to learn everything about this digital currency. You can be very much informed before plunging in.
It Is More Secure Than Before
In any investment that we make, there is always a risk. But with hackings on digital wallets and crypto exchanges in the earlier years of cryptocurrency, these created questions about the security of investors of virtual currencies. Today, however, security measures are in place. There is no news of major hackings already as you can see. And you being more informed, you can do your part to ensure that you are not exposed to such frauds and risks.
It Is Never Too Late
Unlike other investment schemes, cryptocurrency will never reach a point of saturation. It is not like networking and other investment options wherein the first investors get all the opportunities while those who invest later miss out on all the good things. Digital currency will not go out very soon. Definitely, it will be here to stay.
It Is Very Liquid
With the worldwide popularity of cryptocurrencies, the establishment of trading platforms, online brokerages, and exchanges has been on the rise in recent years. This makes cryptocurrencies one of the most liquid forms of investments nowadays. This makes it a lot easier to trade your cryptos for cash, gold, or other forms with lower fees. If your goal is short-term profit, crypto is a great option. Otherwise, it is also an excellent long-term investment option because demand is always on the upscale.
It Will Not Lose Its Value
Unlike stocks and other investment options, your cryptos will not lose their value due to inflation. Cryptos are not regulated by the government so it is not affected by market conditions that are dictated by government policies and current international financial developments. You need not worry even if you stock your cryptos on your digital wallet and forget about it for a long time. It will not lose its value. In contrast, its value will shoot up, for sure.
It Is Simple to Trade
You will never experience trading that is as straightforward as crypto trading. You can simply buy or sell cryptos from exchanges and put them in your e-wallet. This can be an instant transaction that you may not be able to do so with the stock trading as it can take you days or weeks. Stock trading also requires you to go through a broker, but beforehand, you should have a license.
It Is Cheaper to Transact
Security features of cryptocurrencies are in place so it does not require third-party payment processors that will verify and certify each electronic financial transaction. One advantage of cryptocurrencies is that it does not treat international trading differently as domestic transactions. This means that you won’t be paying additional fees. Fees are minimal with cryptos. It does not matter where the sender or receiver is located.
It Offers Incredible Returns
Not too many of us realize that cryptocurrencies are more profitable than other types of investments out there. Sure, it is risky. But as long as you utilize the right strategies, you can expect incredible returns.
The increasing number of investors should be a gauge that cryptocurrency is now trusted by many. With only a handful of investors twelve years ago, it has gained worldwide prominence. Today, more than 33 million Americans have purchased cryptocurrencies and this figure is increasing by the day. And in the past year, the number of wallets has increased from 47 to 71 million!