“The best time to invest in cryptocurrency is 2012, the next best time is every other day since then” In business, every added day is an investment might be too late. The best time to invest is still now.
I will give you just four reasons why invest in cryptocurrency now.
4 Reasons Why to Invest in Cryptocurrency Now
The cryptocurrency market has been growing at an exponential pace and making several people very rich. But is it all about making money?
The technology underlying cryptocurrency – called Blockchain technology – has the potential to change our lives for the better. What does the crypto world have in store for you?
Here are 4 reasons get on board and invest in cryptocurrency.
Returns You Could Never Have Imagined
Let us just compare Bitcoin’s rate of return with that of S&P 500 stocks, which is the leading indicator of performing U.S. equities from the year 2016.
I wish I can say that we’re dreaming. But we’re not. Say you invested $10,000 in early 2016 in U.S. stocks, by now your total investment value would be around $12,000.
But if you invested in Bitcoin, you would be worth a whopping $60,000. Let’s choose another prominent coin: Ethereum.
This is even crazier. And this chart is from the start of this year. If you’d invested in Ethereum, your investment would have increased by a multiple of 46.
If you had invested $10,000, you would have $470,000 in 6 months. Think about it. These kinds of returns are impossible to acquire within the realm of traditional investments.
Cryptocurrency Aren’t Just Bitcoin!
Bitcoin and Ethereum may be the biggest coins now, but there are hundreds of coins which can achieve similar or even better rates of return.
Each coin has a specific purpose or solves a particular issue. You can have a look at the different coins here.
However, a word of caution: Make sure you undertake sufficient due diligence before investing. Cryptos can be highly volatile and they are at the stage of infancy; there’s a possibility that many coins may fail or are downright scams.
It is very common to come across scummy ICOs and cryptocurrency project that has no use case and is just money-grabs.
Huge Growth Potential
The crypto world is extremely intimidating, because of the complexities in understanding the technology. Using technical computing terms can confuse and deter outsiders.
This is the main reason why many stay away from cryptocurrency. In addition, it can be a real challenge navigating through the ecosystem; from opening an exchange account to send coin transactions, to managing one’ private wallet for safekeeping.
That the Cryptos intimidate most people is the very reason why you would want to be in it. Jumping on the bandwagon earlier than most would give you an edge, both in terms of potential gains and experience.
It can be a steep learning curve, but it would all be worth it. Once there’s adequate mainstream coverage on cryptos, the masses will start pouring in, purely because the rates of returns are relatively astounding!
If you’re not a big fan of the government, the big banks or monopolistic corporation, then cryptocurrency are perfect for you.
Humans are used to a central authority– in the form of a government, an institution, or a company- that set rules to dictate the way things should be done.
What if the tables are turned, and the masses have a real say in how things should operate? Now that is a democratic ecosystem.
The decentralization of cryptocurrency democratizes traditional powers and empowers the masses. No more shall you depend on financial institutions for transferring money that comes with an exorbitant fee.
There are many coins – most notably Bitcoin – that allows users to transfer money to anyone at any location with a fraction of the fees.
Not only that, having private wallets to store your coins gives you full control of your money. It’s like managing your own bank; you decide your own rules.
The nature of an open, decentralized economy powered by Blockchain naturally aligns the economic incentives of participants.
This means that actors with bad intentions would find it unproductive and expensive to attack or compromise the system, as the number of resources needed to do so would be astronomical.
Instead of wasting their resources to compromise the system gaining no incentive, the logical thing to do is to contribute their resources to strengthen the security of the system (a process called “mining”).
They would, therefore, be entitled to economic rewards. Anyone can take part in the network by contributing resources and earn coins for the commensurate work that you put in.
The capacity of any person to take part and power the entire ecosystem is the nature of decentralization.
Imagine being a parting of the internet revolution in the 1990s. It was a perfect opportunity for you to gain a vast amount of wealth and bragging rights.
The rights exclusive only to the initial investors and backers of the revolutionary technology, and that which could serve as your lifetime legacy.
That recognition goes beyond material wealth and it really is at your fingertips. How many can claim the rights of being the few that took part in the development of a revolutionary party of human evolution?
Very few. Cryptocurrency is the gateway to that legacy.
“Having bragging rights and being rich along the way is a combination that only a few haves, and will ever experience.”
The crypto world is a blossoming to be a real game-changer that could change the way we do things. As we speak, applications are being developed to disrupt the current status quo, for the better.
Imagine having transparent access to government or organizational activity at your fingertips, or allowing part of your computing power to be shared in the advancement of key scientific and medical projects.
A decentralized system allows the masses to leverage each other’s resources and qualities to uplift the community. It is a force of good.
You can also get very rich investing in the ecosystem too. So what are you waiting for?