The question isn’t why people are still investing in Cryptocurrency; rather, why shouldn’t they? The way the value of Bitcoin is rising is insane; Even the meme coins like Dogecoin and Shiba Inu have grown remarkably. Shiba Inu went to the length of raising 300% in a single month.
Apart from all the technical advantages Cryptocurrencies provide, investment alone is the biggest reason people keep investing in different Cryptocurrencies. For example, if you bought Bitcoin two or three years ago, you would now be rich in 2021.
Cryptocurrencies help you profit through day-to-day crypto arbitrage. However, you can also take the long-term investment route and see where the value of the coin you invested in takes you. I have listed a few reasons as to why people are still investing in Cryptocurrencies.
The famous Bitcoin came out in 2009, and now it reigns in the market with a value above $60k. Cryptocurrencies are decentralized, and they let you send your money directly to any receiver without any intermediary like the bank or the government.
Following the path of Bitcoin, many cryptocurrencies have taken the same way and offer the best investment opportunities.
One of many identifying traits of Cryptocurrencies is the low charge of transaction fees. For example, if you are sending money through bank transactions, you have to pay a certain percentage of transaction fees. Usually, these fees are more significant according to the money you are sending.
Cryptocurrency transactions also make transaction fees, but it is considered low if you compare them to the banking transfer fees. The low transaction fees are one reason why people should keep investing and using Cryptocurrencies.
You have full control over your Cryptocurrency. Cryptocurrencies are decentralized. The world government or the central bank has no control over Cryptocurrency. You can store your assets on your own without any intermediaries like the bank or the government.
You also have full authority when it comes to any transaction. The transaction process only involves the two parties who are transferring their money.
This is also an excellent opportunity for traders, especially those who trade across the oceans, because you don’t have to pay any big currency conversion fees when trading cryptocurrencies.
In international trading, one can skip the currency conversion fees by paying negligible transaction fees.
Cryptocurrencies have their volatile fluctuations. But they can offer you a great investment opportunity. Bitcoin alone proves the potential of cryptocurrencies as an investment idea. But, of course, you have to face some risk in any investment you make.
The stock market, mutual funds, and some other similar investments aren’t free from risk. However, you can invest in cryptocurrencies; who knows; you might get an amount even to plan your retirement.
This especially applies to the current generation that learned to use technology just like learning to breathe.Cryptocurrencies are very easy to use.
More and more websites are now accepting cryptocurrencies for payment. The world is gradually shifting to eCommerce platforms. Cryptocurrencies may be the next payment method we will use while buying something.
Now there are ATMs for Cryptocurrencies. For example, you can now use a Bitcoin ATM for a percentage of Bitcoin ATM fees.
If the security of your money is what is stopping you from using Cryptocurrencies, then you need to know a little more. With payments via Cryptocurrencies, you get even better security than you get in any other payment method.
Cryptocurrencies are very transparent, being an open-source digital currency. Online bank transitions are more prone to fraud than Cryptocurrency. Security is one of many reasons why Cryptocurrencies are so popular.
Cryptocurrency transactions work 24/7. You can engage in trading using them at any time of the day. This function helps in international trading greatly. You don’t have to wait for the banking hour to send or receive money.
Some altcoins like Ethereum, Litecoin, Cardano, Ripple have additional functions that have great potential to diversify their use cases in different platforms.
Each Cryptocurrency has an algorithm that limits it after a certain period by putting a cap on the total supply. Due to their limited supply, Cryptocurrencies are deflationary assets, meaning the power to purchase will increase over time.
Cryptocurrencies have the potential to represent the global currency. Bitcoin investors are now unstoppable as the price is only going upwards; they are now using moon bitcoin cash to earn more money from their Bitcoins legally.
But you must gain some knowledge and experience if you want to start in Bitcoin or any other cryptocurrency. Different Cryptocurrencies have different significant traits and values. It is crucial to know them before you start investing.
Ani Johnson is a passionate blogger. She loves to share her thoughts, ideas, and experiences with the world through blogging. Ani Johnson is associated with TheCBDMagazine, TheCasinoMagazine, Gossipment, TheParentsmagazine, ThePetsMagazine, TheDatingDiary, TheLegalGuides, EssayWritingGuides, TheSportsMag.