Check out the Top 10 Reasons by Mohsin Jameel and know why It’s Still a Good Time to Start your Digital Currency Portfolio
Do you feel sad that you have missed out on the cryptocurrency boom? Well, here’s is the good news – you haven’t!
Cryptocurrency is one asset that has sky-rocketed in popularity the last few years. Unless, you’ve been living off the grid for the last couple of years, I’m pretty sure that you would have come across several investment opportunities to invest in digital currencies.
Right now, you are probably wondering, whether investing in cryptocurrencies is a good idea. Are you late into the game? Is it possible to make big wins, even now? Will blockchains remain around for long or are they yet another passing fad?
Worry not, in this post, I help you cast aside your worries. And, give you the top reasons why industry experts believe that you should invest in cryptocurrencies, even now.
#1: A Plethora of Affordable Altcoins that Come with Huge Potentials
Ok, it may not be possible for all to invest in a bitcoin today with the price hovering somewhere around $6000 and upwards. But, that doesn’t mean your opportunity for investment in the crypto space is over. There are plenty other affordable altcoins that havemassive features and amazing potentials, not available in the original digital currency.
Buxcoin is one such popular altcoin that has been garnering huge support and attention from crypto investors the world over. Click here to check out how to get started with Buxcoins.
#2: It’s Easier and Straightforward to Invest in Digital Currencies than Ever Before
Just a few years back, investing in digital currencies was quite convoluted and the process was lengthy and took technical. Newbie investors found it all pretty overwhelming and confusing and sometimes feel frustrated.
Thankfully, that’s all the past. Today, investing in cryptocurrencies is as easy as shopping for a commodity online. Thanks, to the rise in the number of user-friendly cryptoexchanges you can start your digital currency investments within a few minutes.
All you have to do is sign up on any cryptoexchange, get your credentials validated and then you can easily purchase cryptocurrencies directly with your fiat currency (real-world money).
#3: A Limit on the Supply
Unlike other commodities that have an unlimited supply, digital currencies are unique because they are limited. For instance, bitcoin is a precious asset today, because there are only 21 million bitcoins, ever. The number cannot be raised. This creates a demand which in turn boosts its price.
The same is true for all other altcoins. By investing now, you are able to pick digital currencies at low prices and you can sell them high, when the demand goes up.
#4: Digital Currencies are still Uncontrolled by Central Authorities or Governments
This is one of the biggest benefits of cryptocurrencies. Despite attempt to bring it under regulations, it still remains decentralized. Political volatility, war, economic fluctuationsdo not affect the price or stability of digital currencies.
In today’s scenario of global unrest and political turmoil, adding cryptocurrencies to your portfolio may be a safe bet.
#5: Diverse Applications
Very few people realize that cryptocurrency is more than money. It’s an investment, currency and technology all rolled into one. You can use cryptocurrency to pay for your online purchases like you would do with regular fiat currency. Simultaneously, you can use it to fund for your retirement investments and even invest in the underlying blockchain technology.
The beauty of digital currencies is that they are pretty diverse and all encompassing. Today, by investing in any digital currency, you’re doing more than investing in a currency. You’re investing in a technology that has an incredible potential.
#6: Endless Applications
Did you know that there are over 1000 digital currencies on the market today? While some of these may fail, others are bound to become successful. The key here is to spend some time on research and identify the right type of cryptocurrency to make smart investments.
#7: The Crypto market is Open 24 x 7
Unlike banks and stocks that have fixed trading timings, cryptocurrency exchanges are open 24 x 7. This means as soon as you spot an investment opportunity you can invest in without waiting for any external factors.
#8: The Potential for Growth in the Crypto Market is Massive
The cryptocurrency adoption rate right now is just 0.2% and has been increasing at an exponential rate year after year. Take a look at this study by Cambridge University that highlights the growing significance of crypto currencies. At this speed, the potentials of cryptocurrency to grow in the coming years is quite massive and staggering. By getting started right now, you can get a head start over the late adopters.
#9: Protect yourself with the Benefits of Diversification
You would have come across worrying reports of the problems faced due to hyperinflation in countries like Zimbabwe and Venezuela. Who knows what will happen in the future? The best way to stay protected against such situations is to diversify your assets by investing in cryptos.
#10: The Benefits far Outweigh the Risks
Crypto currency is indeed a bear market and comes with plenty of benefits. While there’s no denying the fact that it has certain risks, the benefits far outweigh the risks.
The Time to Invest is Right Now
Well, it’s true that the best time to invest in Bitcoins was way back in 2009, when it was introduced, and the price of the currency was peanuts. But, since you have missed it, the next best to invest is right now.
Just like any other new technology digital currencies come with a fair amount of risks. Since, it’s unregulated the price could go in both ways. However, that doesn’t mean you should postpone all cryptocurrency investments.
Take calculated risks and invest in upcoming digital currencies like Buxcoin that have plenty of potential to grow big in the future.