If you’re thinking about investing in cryptocurrency, you might be wondering if it’s the right move. Even with high levels of volatility in the market and the constant threat of hacking and fraud, more and more people are making their way into the cryptocurrency market, so it’s likely that there will be many more opportunities to get in on the action before prices drop again. Here are seven reasons why you should invest in cryptocurrency today.
Reason 1: It’s Decentralised
Cryptocurrency is decentralised, meaning it’s not subject to government or financial institution control. This is a major selling point for crypto investors, as it offers more freedom and flexibility than traditional investments. Additionally, the lack of centralized authorities means that the prices are unaffected by world events such as terrorist attacks or inflationary periods, making them an attractive option for those who want their money to retain its value over time. Plus, using cryptocurrency isn’t difficult. There are many resources available that offer step-by-step instructions on how to use your preferred coins to buy goods and services online. One of the most popular methods is Bitcoin which can be used at merchants like Amazon through services like Bitpay which charge minimal transaction fees. There are also other alternatives such as Bitcoin which have lower transaction fees but slower confirmation times due to their lower network security level. You can even buy USDC, as offered by Bybit, and always research what is best for you.
Reason 2: The Volatility
One of the most appealing things about investing in cryptocurrency is the volatility. This is the percentage change of a given asset over a period of time, and it’s one of the key things that investors look at when making decisions. In general, the higher the volatility, the higher the risk. However, it also means that there’s potential for greater rewards. With cryptocurrency, you can see much higher volatility than with other assets.
Reason 3: Bitcoin Transactions are Inexpensive
When you make a transaction with Bitcoin, there are no bank fees. In fact, Bitcoin transactions are often faster and cheaper than traditional bank transfers. For example, if you were to send $100 to someone in another country, it would typically cost around $30 in fees. With Bitcoin, you could do the same transaction for less than a dollar.
Reason 4: The Value of Crypto Currency is Not Based on Anything
Cryptocurrencies aren’t based on any assets, so their value isn’t derived from anything physical. That doesn’t mean that cryptocurrencies are valueless, though. Their value is based on the faith that people have in them.
Reason 5: HODL
One of the most popular reasons for investing in cryptocurrency is the concept of HODLing. HODL is an acronym for hold on for dear life and it represents the strategy of buying a coin and holding it for a long-term investment. Many people believe that the key to making money in the crypto world is to buy low and sell high, but this isn’t always the case. The current market volatility can cause prices to skyrocket or plummet at any time, which can make this strategy difficult. HODLing allows you to ride out the highs and lows with your investment and if you’re lucky, you may see some serious gains over time.
Reason 6: ICOs Offer a Lot of Growth Potential
If you’re looking for an investment that offers a lot of growth potential, you should definitely consider investing in cryptocurrency. One of the reasons for this is that many startups are using Initial Coin Offerings (ICOs) to raise funds. ICOs are similar to IPOs, but they’re usually open to anyone who wants to invest. This means that you don’t have to be an accredited investor to participate.
Reason 7: The Technology Holds Many Opportunities
One of the most important aspects of any investment is understanding the underlying technology. With cryptocurrency, you’re not just investing in a currency – you’re investing in the blockchain technology that powers it. And that technology holds many opportunities. For example, blockchain provides a decentralised system for secure transactions without third-party interference or government regulation. It also has potential to make banking and insurance services more efficient while also allowing companies to use smart contracts on a wide scale and making transactions much cheaper for consumers.
