4 Reasons you should invest in Cryptocurrency in 2020
November 24, 2020
There are several tweaky and twitchy terms that’ll help in describing Cryptocurrency. Salient among them all is volatility. The crypto world is a very volatile one.
There’s virtually no history or some sort of permanent past records that’ll give you 100% certainty about its market behaviour. Its price plunges and imprecise market behaviour rank among the top reasons Cryptocurrency is volatile.
But that aside, what exactly is cryptocurrency?
What is Cryptocurrency?
You can think of Cryptocurrency as digital money. That’s the easiest way to get a hold of its meaning. And truly, it is money, the only difference being that it is not a paper-based kind of money. In other words, it’s not physical. Rather, it is completely a digital asset made to assume the value function of real money.
Cryptocurrency was first implemented in 2009 with the start of Bitcoin. The security measure responsible for the management and maintenance of the crypto world was (and still remains) cryptography.
Over the years, cryptocurrency gained widespread fame. Many people came up on board. In 2013, cryptocurrency had attracted potential and significant investors when it got to $200/coin.
The media also took the platform up and popularized it. Since 2013 till now, the number of people boarding the crypto ship keeps increasing. And there seems to be no stopping from the increasing number everyday.
4 Reasons you should consider investing in Cryptocurrency
If you want to have a secure financial life in this modern time, one of the best ways in ensuring that is pitching your tent in investment. There are several types of investments you can try out, but cryptocurrency is one of the leading investment programs you should feed your focus on.
Most (if not all) investment programs are a risk. You either gain or lose. It all depends on how well you know the scope of the investment game.
With cryptocurrency, you have a lot to gain than lose. As earlier stated, it largely depends on your efficient knowledge of how things are done rightly in the crypto world. So, it’d be a good start to kick off your investment journey in Cryptocurrency!
Although the unpredictability and volatility of Cryptocurrency may be a challenge, it isn’t a mountainous challenge. You can always find your way around it. Once you’ve known how the market operates, you’ll know how to manoeuvre your way around the market in ways that’ll profit you.
Below are the reasons we think you should join the crypto world.
The number trending crime in the world is cybercrime. Hardly will a day go by without news of it. In a technologically advanced world at this time, there are many internet fraudsters that use their hacking skills to cart off people’s valuables online.
This is one of the reasons many people are scared of having their money or valuable things online. Chances are, they are vulnerable to hackers. Hence, cyber security issues are loopholes for online fraudulent activities.
As far a cryptocurrency is concerned, cyber security is not an issue. The cryptocurrency economy is very secured and protected. If you are looking for a safe and shielded online platform you can confide in, cryptocurrency should be the first on your list. There are two reasons for this.
Firstly, Cryptocurrency is based on cryptographic security systems. This system functions on the discreteness and pure workings of mathematics to protect your money and essential banking details. It doesn’t rely on banks and their I.T team.
With the cryptographic security system, you can be certain your account is unlikely to be compromised in any way. What makes the cryptographic security system to function that way is because it’s built on block chain technology.
The second reason why cryptocurrency is safe is because of the fact that your personal coin funds are secured and locked in a public cryptography system. In this way, it is only you that can have access to your account to send cryptocurrency.
2. Anonymity and Privacy
Coupled with the security advantage is the pseudonymous nature of cryptocurrency. Anonymity is a protective advantage once enjoyed only by people involved in the dark web. Now, it’s a bonus advantage to cryptocurrency traders and investors.
Anonymity and privacy are in-built and default features of cryptocurrency. Basically, anonymity and privacy keeps your identity and account from the intrusion of external parties, organizations and even the government. These external parties won’t have the knowledge of what you are buying or investing on.
The features also keep secret your spending record as well as who you’re making transactions with. Everything’s masked from the intrusion of any external parties. You’re in charge of your account, and you don’t have to be looking over your shoulders every now and then. Anonymity and privacy got you covered!
3. Obsolescence of Paper Currency
Technology is evolving every minute. With the world operating most operations digitally, paper currency seems to be inefficient, cumbersome and replaceable. With the number of digital transactions possible now, paper currency is gradually sinking down the minority drain.
It’s quite obvious now that the future will be getting more digitized. The digitalization doesn’t spare the part of money. With currency transaction platforms like PayPal and credit cards, it is becoming glaring that paper currency will be totally replaced with a 100% digital currency transaction.
The future currency system is undoubtedly going to be fully digital-based. Cryptocurrency is the starting block of such digital-based currency systems. It’s only a smart move to get yourself prepared for the future.
4. Lower inflation risk problem averted
Traditionally, the currency of a country is controlled by its government. With such a deep connection between the government and the country’s currency, it is only normal and expectable that any economic crisis or problem faced by the government will heavily affect the currency.
When this happens, then the currency value begins to dwindle and fluctuate, which will result in the need for printing more money to balance things up. Such messed up economic abnormalities can affect your money.
Fortunately, cryptocurrency is free from this problem. Cryptocurrency is not owned or controlled by any government. It is a global and decentralized platform for everyone. This is why a number of investors believe that cryptocurrency has a lower inflation risk when compared with traditional currencies.
The world is riding on the modern train of modernism. Every sphere of human endeavor has the signature of technological advancement. The business world is not left out.
Cryptocurrency is a modern and cool platform for entrepreneurs. Invest in cryptocurrency today and reap multiples of your investment later in the future! You’ll be glad you did!