Cryptocurrency is all anyone can talk about these days, and with good reason. Its value is constantly changing and more and more types of cryptocurrencies are starting to pop up on a regular basis. Its rising popularity has also led people to wonder whether or not they should begin to invest in it themselves. Whether you’re curious about investing in cryptocurrency or curious about things such as how to buy Bitcoin, this article is for you.
- It’s Becoming the New Norm
When cryptocurrency first came out, people were doubtful that it would ever catch on. However, the sceptics were eventually proven wrong as cryptocurrency is now more popular than ever before. Research has proven that cryptocurrency is being widely accepted and at a rapid pace. Bitcoin for example, has seen an increase from 47 million to nearly 71 million wallets in the past year.
In fact, several apps are now also allowing the use of Bitcoin transactions between their users. This just goes to show that there is simply no getting away from cryptocurrency, whether you like it or not.
- Cryptocurrency Is Headed to Wall Street
Cryptocurrency has recently caught the attention of Wall Street analysts and investors who have started investing in cryptocurrency themselves. Over the past year, investments have continued to increase. This is due to the fact that people are now accepting that cryptocurrency is a dependable store of value. Investors also believe that investing in cryptocurrency has a more long-term appreciation potential than holding cash does.
- There’s Limited Risk
Cryptocurrency has had its ups and downs since it was first introduced. Eventually, crypto manages to recover their value no matter how many times it’s tanked. With cryptocurrency, there isn’t much to lose, especially if you only invest what you can afford to lose.
- It’s Decentralized
This is one of the main reasons why people are so keen on purchasing cryptocurrency. The fact that it isn’t backed by any government or bank means there are no taxes on it and no excessive bank fees that tend to turn investors off. The only disadvantage of this, however, is that should someone hack into your account and steal all of your cryptocurrency, there’s no insurance on it for you to recover and you’re left virtually penniless.
- Businesses Are Starting to Adopt it
Major businesses are now beginning to accept cryptocurrency as a form of payment. Tesla and Visa for example, are just some of the companies doing this. A lot of international businesses are also implementing cryptocurrency as a form of payment due to the fact that they don’t have to shell out for any international fees when sending or accepting any payments. Pretty soon, you’ll not only want to use cryptocurrency as a form of payment, but you might even need it should a business decide to only accept payment in cryptocurrency going forward.
- It’s Easy to Buy
Cryptocurrency is pretty easy to get your hands on. If you want to know how to buy Bitcoin, it’s simple. First, you’ll need to get a virtual wallet to hold your currency. To do this, you must also create an account on an exchange where you can then transfer money to buy the cryptocurrency of your choice.
You have several options when it comes to cryptocurrency exchanges that allow you to both create a wallet and purchase cryptocurrency. There are so many options, so it’s best to do some research to find out what type of cryptocurrency wallet you should get for yourself.
- There Is No Hyperinflation
With regular types of currency, one always has to worry about inflation. But with cryptocurrency, it simply just can’t happen. This is due to the fact that crypto’s blockchain is coded so that there will never be more than a certain amount of a particular cryptocurrency in existence. To date, there are only about two million to be mined. The price will continue to rise as demand outstrips supply, and total supply is capped.
People have even begun to compare cryptocurrency to gold as a potential store of value as it continues to increase in worth.