Ask a few people, “What is the newest trend in the money market?” The answer would be, Cryptocurrency. Containing the elements of computer science as well as mathematical theory, Cryptocurrency has undoubtedly hit the headlines and raised the discussion over whether it’s a worthy investment strategy in 2018 or not. Should you invest in cryptocurrency?
Let’s First Have An Introduction To This Encrypted Form Of Currency
The world is turning economically insecure. With this ever-evolving nature of the internet today, people have begun to feel it more important to invest their hard-earned money into a platform which is not just very secured but also growing exponentially. This is how cryptocurrency, Bitcoin, in particular, came into light.
Cryptocurrency was first implemented in the year 2009. Sure, it attracted a growing following in its subsequent years, but it captured the media attention in April 2013, at the time when Bitcoin peaked at a record $266 per/coin. This digital asset especially developed to function as a medium of exchange online. It’s preferably managed and maintained by cryptography that acts as a security measure.
The primary function of this encrypted currency is to secure your transfers and purchases as it converts the clear information into an unbreakable code, which only you can track. It may be one of the primary reasons why the cryptocurrency market has been growing at an exponential pace turning people like you as RICH.
But is it just about making money and doing transfers? Not at all! With the technology, underlying cryptocurrency, called Blockchain Technology, has the potential to make some exciting changes in our lives, for better. Want to know what does this crypto world have in-store for you? Continue reading
Top 7 Reasons To Get On Board And Invest In Cryptocurrencies
For some people, investing in cryptocurrency like Bitcoin is a matter of serious consideration. If you too are one of those, then it’s time to break down the components of cryptocurrency and also see why you should be investing it. Ready?
Let’s begin with the first reason
Cryptocurrency is mainly a system that’s based on cryptography security. Now, what do we mean by Cryptography? Let’s take an example here,
You put your money in your bank and trust its IT department to keep your money and banking details safe.
On the contrary, when you invest in cryptocurrency, you are trusting the math rather than trusting people. And, this is what sets this system stand out in the market today.
Blockchain technology is the very nature of cryptocurrency that prevents your account from getting compromised by any means. It is this system that investors are rest-assured that there isn’t any chance of anyone getting involved in your transactions, outside of miners.
Also, emphasising on the security further, your coin funds are securely locked in a public key cryptography system, which means that only the owner of the private key has the authority to send cryptocurrency. This powerful cryptography security system along with the magic of big numbers has made this scheme impossible to break.
2. Anonymity With Utmost Privacy
Anonymity and Privacy is one of the founding features of cryptocurrency that prevents organisations, parties and governments from knowing what you’re buying or investing in. Everything from how much you have spent to from whom you are buying is kept completely safe.
This pseudonymous feature of this encrypted currency is a significant advantage that ultimately implies, neither a transaction nor the accounts to which the transactions are made happen to be connected with their real-world identities. In a layman term, once a person has been given a unique crypto address, it becomes almost impossible to track it to them.
3. Transaction Charges
As compared to any other money transaction process, cryptocurrency involves lower fees. If you compare these fees to those charged by traditional banks or online payment processors like Stripe, PayPal, etc., you will find a significant difference. This is what makes this currency even more lucrative.
The zero or low fees for crypto encourage individuals to become part of this broader trading and the commercial world finally.
4. Easy Access
Unlike those traditional investment methods which are quite difficult to jump, the joy behind cryptocurrency is that investing in it comes with access to trade with 24*7, making it easy and permissionless. This implies that you don’t need to ask anyone to be able to access crypto.
Not just that, you send and receive Bitcoin without any expensive software, training or license. No one can prevent you from doing so. If you have access to a smartphone, a laptop or a desktop, you can use it any time to have access to crypto.
Another reason investors prefer crypto is because it solves the issue to carry a large amount of it abroad easily and legally. There are certain jurisdictions which make it difficult to move cash amounting to millions for several reasons. So Yes, it’s lawfully portable.
6. Currency Without Debt
Different from the standard banking system where your account is created by debt, cryptocurrency doesn’t represent any obligations, except themselves. Whatever is the number being reflected in your wallet is the exact amount of money you possess.
7. The Rising Future
While a previous couple of points outlined the advantages of investing in crypto from a technology and feature perspective, the most significant draw factor for most investors is the sheer rising cost of cryptocurrency which is expected to rise continuously in the future.
The trading volume for every single currency is increasing with each passing day. And this means an indication to more investors making their first every entry into the crypto world.
Ready To Invest In This Virtual Currency?
With everything discussed above, it can be said that YES, it’s the time to start investing in cryptocurrency today. It’s a way out of the bureaucratic control of the banks and government bodies over your monetary transactions because someone using cryptocurrency can send and receive the full payment that’s on the screen.