Is It Time To Jump Onboard The Crypto Investment Train?

by Magical Penny on May 11, 2022

It’s all too easy to answer yes (or no!) to this question and then just leave it there, but it’s worth exploring this query in a little more detail. You should never invest without knowing a little about what you’re buying into and why it’s the right choice. This is a mistake that a lot of amateur investors tend to make. They buy without thinking about the ramifications or the reasons behind the choice, relying mainly on responses from professional brokers. So, let’s dive in. 

What Is Cryptocurrency?

Cryptocurrency is a digital asset that operates using blockchain technology. To an extent, cryptocurrencies like Bitcoin are decentralized. This means that crypto essentially cuts out the middleman in financial transactions which is usually the bank. As such, crypto-transactions are faster, they’re more secure and they deliver huge benefits to buyers as well as sellers. This digital currency can be used to purchase a range of goods and services as countless businesses have started to invest in this technology. 

What About Bitcoin

Bitcoin is by far the most valuable cryptocurrency on the market. One of the reasons for this is that it was the original player or counter on the board. People who invested in Bitcoin at the beginning of its life on the market are now millionaires. One bitcoin is currently worth just under fifty thousand. If you think that’s something, wait until you hear the predictions which claim it will exceed 250,000 by 2030. This does mean that Bitcoin is tricky to invest in but there are other options like Ethereum. This is quickly catching up in value and will likely follow the same trajectory as Bitcoin. 

Even joke cryptos such as Doge have seen significant gains in value over the past few years, before ultimately dropping down again. This means that you shouldn’t let the fact that Bitcoin is too expensive stop you from investing. There are plenty of other possibilities on the table too. 

Why Is Now The Right Time To Invest?

Generally speaking, five years ago was the right time to invest but investing now will still provide benefits for you in the long term. Particularly, if you make the right choices with the crypto you decide to invest in. If you have fifty grand to spare, you should absolutely purchase one Bitcoin and leave it for about ten years. The smart money suggests that the value will soar. 

Even if you don’t, various different cryptos are becoming widely embraced by society and businesses. The more that cryptocurrencies are embraced by society, the more valuable it will become. Eventually, it’s possible that this currency will become the main resource used, beating everything from the dollar to the pound. 

You might think that crypto doesn’t have any real value. You would be right there but neither does the paper money we use or the digital money on your card. Money only has value because people believe it does. It’s an incredibly delicate system. 

Is It Easy To Invest?

Anyone with a phone and an internet connection has the power to invest in cryptocurrencies if they choose to. It’s just a matter of deciding which one to buy. Once you’ve settled on the right choice, you’ll then need a crypto wallet. There are lots of different types of crypto wallets to choose from including hot and cold wallets. Or wallets that store your money offline and online. You should research the different options so you can make the choice which suits your needs the most. 

Could The Crypto Bubble Burst?

People have been warning for years it’s only a matter of time before cryptocurrencies crash in value. While there have been dips and some have been quite painful for investors, there’s nothing to suggest that crypto will crash. At least, not anytime soon. If it is widely embraced, it will need to hit a more reasonable value. But we’ve got a long way to go before that happens, so there’s still time to invest and then sell. 

As you can see, there are a few clear reasons why it is time to jump onboard the cryptocurrency investment bandwagon. You might feel a little late to the party because options like Bitcoin have already taken off. But don’t be so sure. First, there’s always dips in the market. That means that you could still have a chance to gain a piece of the Bitcoin pie if you’re paying attention. Even if you can’t, there are plenty of other cryptos out there. This is just a case of completing the right amount of research. 

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