It's no secret that cryptocurrencies have taken the world by storm over the past few years, with Bitcoin having been one of the first to become popular. Perhaps you're wondering if it's the right time to start investing in cryptocurrency if you haven't done so yet. Here are 7 reasons why you should invest in cryptocurrency today, even though there are many factors to consider.
Reason #1 – No more fees
One of the best things about cryptocurrency is that you no longer have to pay any fees. This means that the only cost associated with sending money is the fee charged by the miners, which is typically much less than what banks charge. For example, when transferring $100 from one Bitcoin wallet to another, it will take at least 10 minutes and cost around $0.75 in fees (paid in BTC). Compare this to a bank transfer that would take two business days and cost upwards of $25!
Reason #2 – It’s quick
The cryptocurrency market is the fastest growing form of investing, with a potential to grow over $1 trillion by 2020. It’s no wonder that so many people are looking to invest in it. Unlike traditional investments, it’s quick and easy – you can buy and sell cryptocurrencies within minutes! Plus, it’s an investment that is much more accessible to everyone.
Reason #3 – Lower exchange rates
Central banks can print as much money as they want, and it's not uncommon for them to devalue their currency by printing more of it. This is why the U.S. dollar is valued at less than a penny right now, because the Federal Reserve has been printing trillions of dollars in order to bail out the banking system after 2008.
Reason #4 – Low risk investments are here to stay
Investing in cryptocurrency is a low-risk investment. The risk of investing is mitigated by the volatility that comes with the territory. As long as you invest responsibly and know when to cut your losses, you should be able to see positive returns on your investments.
Plus, if you are looking for a way to diversify your portfolio, cryptocurrency offers a unique opportunity that doesn’t have an equivalent (yet).
Reason #5 – Profit from value growth
The most important thing to understand about cryptocurrency is that it is a completely separate asset class from stocks and bonds. The majority of people are simply not aware of this, but the fact remains that Bitcoin, Ethereum and other types of crypto coins have been around for less than 10 years. This means that the market for these assets has yet to be fully discovered.
Reason #6 – Only limited supply
Cryptocurrencies are scarce. They have a limited supply, which can be changed by the creators of the currency. The more people that invest and buy the currency, the higher its price will go. This makes it a good investment because you know you're getting more for your money.
The number of Bitcoin is capped at 21 million coins and Litecoin has 84 million coins available to be mined. Once these coins are mined, they can't be created again.
Reason #7 – Bigger than ever before...and growing.
Cryptocurrencies are bigger than ever before and are growing more popular by the day. In 2017, Bitcoin surged to over $19,000 per coin and Ethereum skyrocketed to $1400 per token. These investments have since then decreased but with an ever-growing market, there is still a lot of potential to see these figures rise again.
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