The world is bewitched, and overwhelmed by what we can certainly now call a revolution in the financial sector – cryptocurrency, or ‘crypto’. What is it, though? In simplest terms, it is a digital currency (which can be, yes, used for transactions) stored in digital or online ledger often known as ‘blockchain’, that have pretty strong cryptography that keeps your money secure. Blockchain is an essential technology of cryptocurrency, that is decentralized, and spread across computer networks.
Many companies have issued their own currencies, known often as token, which can be traded for goods or services.
Crypto being intangible, it has been difficult for most to rely on it and invest.
We are here to change how you look at it! Here’s 5 reasons you must start investing in cryptocurrency today.
1. It’s a brewing revolution
From the advent of bitcoin to now, a lot has changed in the crypto world. Who knew back then how big this would get? Created by a group of anonymous people ‘Satoshi Nakamoto’, Bitcoin came a long way being valued at less than a dollar to now $US 63,027, which again keeps going up.
The decentralized nature of bitcoin, and other cryptocurrencies changed the whole perspective we had of the financial system. It is faster, global, and much more secure.
The key here is there is no central body regulating or controlling crypto, which gives you more freedom. The growth and acceptance has been significant, so much so that today there are over 5,000 cryptos!
2. High liquidity and High returns
Buying and selling crypto is much easier today. The liquidity of it makes it convenient, and also the demand keeps going up. Take bitcoin, for example, that has more than 54 million crypto wallets! Anyone today can buy or sell crypto easily, on an app without too many different steps and verifications.
Besides, crypto has shown to yield higher returns in comparison to other assets including stocks. No doubt, crypto is highly volatile, but that also makes it all the more better if you want higher returns from a single trade! (Please also consider all risks by reading and researching the market well before you invest.)
3. 24/7 Market
One of the best things about cryptocurrency is that you decide your time to trade. Unlike most traditional financial system, cryptocurrency has no specific timing. It is open 24/7, and you can have all the time you want to organize your trade. You can trade even when you are travelling, on Sundays, on holidays!
There are uncountable networks and exchanges to trade on, and you can always explore and find what suits you best.
4. Choices Galore
Again, unlike any traditional stock and trades, cryptocurrency has a lot of options to choose from. If you are not sure about Bitcoin, there are many altcoins (coins other than Bitcoin) available.
The variety also adds to your portfolio, and spreading out your investment makes it much more secure. If you are looking to buy any, you can start with the safest like Ethereum, Ripple, Bitcoin, Monero.
You can also trade crypto with pairs- crypto/crypto or crypto/fiat, the options of which are abundant online.
5. Transparent and Global
Crypto does not have a great impression for some, but the growing audience and traders tell a different tale. Cryptocurrencies are extremely transparent, while being secure. The blockchain system on which it is built, is strong and very difficult to hack into. These coins are encrypted, signed by a private key, and verified by a public key.
You don’t need too many documents, and can invest with as little as $10.
It is safe with a bright future and is spread across the globe (in majority of the countries). In many countries, like Argentina, there are cards for cryptocurrencies through which you can even go shopping at certain brands!
These are only some of the many reasons you must start investing in crypto. Besides, the blockchain technology is dynamic and can benefit many different sectors. The regulations surrounding crypto has also started ease out with many governments accepting it, one step at a time.
So, what do you think? When are you starting your crypto journey?
