You’ve definitely heard of cryptocurrency. In recent years, digital money has often made the news and become the source of much discourse and debate. Opinions are split on its usefulness and benefits. While some would swear by its efficiency and see it as one of the most reliable and certain ways to improve your income, others see it as a surefire way to lose money. In their opinion, crypto can never be seen as a good asset owing to its volatile, fluctuating prices. However, it’s not fair to paint digital money with a single brushstroke and completely dismiss all other evidence. The truth is crypto is a multifaceted asset. If you have any experience in trading, you’re well aware that no holding is perfectly safe, and any venture comes with a certain degree of risk.
However, if you’ve set your mind to give cryptocurrency a try, here are some of the reasons you won’t regret this decision in the future.
Store of value
Because of its nature as a digital asset, crypto has long been seen as an asset devoid of any real value outside a few specific transactions. While there may have been some truth to that mentality shortly after the advent of crypto in the financial market, cyber money has come a long way since then and transformed into something entirely different.
Nevertheless, not all crypto is created equal. If you want to make sure you get the best outcome out of your trades, focus on the well-known names. And there’s none more popular than Bitcoin. While the Bitcoin price sees variations as well, they are generally less drastic and easier to manage than in the case of altcoins. BTC is the blueprint for all other cryptos. As such, it holds store of value depending on how well it works as an exchange medium.
While there have been bubbles in the Bitcoin price over the years due to media attention and important worldwide events, this is expected to decrease as the currency sees increasing mainstream adoption. When it comes to value, however, you need to make sure you are well aware of the security implications that come with trading. Cryptocurrency is very attractive for hackers due to the fact that their actions are largely untraceable. As a result, theft in the crypto world is particularly destructive, and if your cyber money is stolen, you’re most likely never going to see it again.
However, when you take all the necessary safety measures, you’ll benefit from another main advantage of crypto is that it is censorship-resistant. Powered by a decentralized ledger, you can be confident that no digital wallet can ever be frozen by banking authorities. If you’re trying to store wealth and assets for the financial well-being of your family, crypto is the way to ensure your funds stay in place.
The blockchain technology fueling cryptocurrency is poised to change the world. An increasing number of people believe that it is the tech of the future and will make industries and, by extension, the world a much safer place. Although there’s still a long way to go until that’s feasible on a large scale, the foundation is laid at the current moment. There’s a significant amount of tech startups out there that need capital to develop.
Many of these businesses sell digital tokens to their earliest investors in exchange for popular crypto such as Bitcoin. The simple fact that you can now perform these kinds of transactions, while before it was only experienced venture capitalists who would get involved in transactions like this, says a lot about the influence crypto already has on the world, only a little over a decade since its arrival on the market. So, find a startup business that appeals to you and give investing a try. The returns are likely to be quite significant.
Crypto is one of the most influential critical technological advances at the moment, and like all, technology prides itself on speed and reliability. As such, sending and receiving payments can be done at lower costs and at an increased rate compared to traditional mediums. You can send very high sums of money for transaction fees as low as $0.40, and the whole amount takes less than a couple of minutes to arrive in the recipient’s account. If the same transaction were to go through a financial intermediary, the resulting costs would have been much higher. The duration it would take for it to be completed would also be highly dependent on geolocation. In the best-case scenario, it would only take a few days, but it can take substantially longer if you’d be performing a cross-border transfer.
Considering all these aspects, it’s easy to see why crypto is the preferable option.
Because digital currency is increasingly seen as equal to fiat money, there are ways you can work to earn crypto, much like a regular job pays a wage. If you’ve been looking for opportunities that can help you make some extra money on the side, this might be the perfect alternative for you. There are social media platforms out there that pay content creators in crypto. All you need to do is be consistent in your blogging and posting habits. Additionally, you might have other tasks to complete, such as curating the network and upvoting high-quality content to make it more visible. If you’re interested in the latest technological advancements and aren’t afraid to take on a job that’s a little bit out of the ordinary, joining one of these websites is a win-win situation since it is both a learning experience and a way to drive revenue.
Another positive aspect of these platforms, when compared to the better-known social media platforms, is that they don’t sell your data to third parties, so you don’t have to worry about your information being stored or viewed without your consent. This is one of the main reasons these websites are enjoying increasing popularity among users.
When you’re thinking about investing in crypto, you’re probably going to meet a lot of naysayers that discourage you from giving it a try. But if you’re sure that it can be beneficial for you, don’t hesitate to give it a try.