Cryptocurrency has evolved rapidly over the past decade. For starters, cryptocurrency is digital money. And, it is more than bitcoin. There are hundreds of cryptocurrencies in the market today. While many people use crypto tokens for peer-to-peer currency exchange, the market of crypto trading is also gaining ground. Investment in cryptocurrency can earn you a good profit. That’s why many whales (big investors) are starting to invest in crypto rather than any other kind of asset.
If you want to have an edge over other traders in 2021 then consider investing in cryptocurrency. You can read some tips for crypto traders here. Mostly, crypto coins have low value when they are introduced in the market. But steadily their price increases. For instance, Bitcoin was worth pennies at the start. However, today the price of one BTC (short for bitcoin) is nearing $10K. Some crypto experts say that BTC might reach $100K in the near future. Simultaneously, many altcoins are likely to get more expensive with the time. The market is still young so right now is the best time to join in. Here are 7 reasons why you should invest in crypto:
1. ROI (Return on Investment) is huge:
The profit margin in cryptocurrency trade is huge. Other assets like stocks and fiat currencies are nowhere near it. Essentially, the volatile nature of cryptocurrencies is behind the massive return on investment. In a short amount of time coins can double in value. Resultantly, investors can have a 100% profit. Nonetheless, there is also the risk of losing big. Many traders invest in crypto without any clear strategy. Thus they suffer the consequences of impulsive moves. On the other hand following effective strategies over a long period of time guarantees profitable trades.
2. Alternative to Traditional Market:
The crypto market is an excellent alternative to the traditional market. Wealthy investors have long been in the game of traditional stock trading. On the other hand, the crypto market is relatively young. So, if you invest in crypto now then there will be a chance of profiting off the thriving market. Besides, traditional markets are liable to crashes as a result of economic collapse. Contrarily, cryptocurrency prices are less affected by economic conditions.
3. Safe Haven:
In the event of COVID-19, we have seen many economic and financial experts advocating investment in cryptocurrency. Evidently, crypto has shown its muscle in hard times of global economic downturn. While many assets lost their value during the pandemic, cryptocurrencies moved casually. Hence the crypto is now among the favorite safe haven of wealth along with gold. Therefore, you should invest in crypto even if you don’t want to trade it.
The crypto market is very diverse. You can start by buying one coin and later on, trade it to buy others. After the first investment, a chain reaction starts. With the availability of more than 1600 types of coins, you can easily diversify your portfolio. This helps in gaining profit and staying safe at the same time.
5. You can Learn Crypto:
People were reluctant to invest in crypto at the start of this decade. Crypto was too difficult for a layman. But today crypto trading is made easier than ever. You can learn the concept of digital money from a plethora of resources free of cost. For instance, this website has guides on popular crypto coins, trading strategies, and trading tips. Likewise, you can surf the internet to find more resources to suit your needs.
6. Simple Trade:
Stock trading, bond trading, or other forms of trades have a lot of gatekeeping. Resultantly, those become too complex, to begin with. However, for crypto trading, all you need is an account on the exchange. Besides, you can make the very first investment with just a few bucks. Therefore, crypto trading is much simpler than traditional forms of trading.
7. Don’t be late to the party:
Invest in crypto while the concept is still new and business is in infancy. The way blockchain technology is evolving, you can expect a lot of changes in the subsequent years. Nonetheless, one thing we can say with absolute surety is that crypto is here to stay. So don’t be late to the party.
Invest in crypto today. Cryptocurrency is the new gold. In certain sense, it is better than gold. Crypto trading can be a part-time hustle or full-time job. Either way, you can make extra income consistently with a good strategy and right choice of exchange. So, invest in crypto for getting the best returns.