Cryptos are a mix of mathematical formulas and computer science in the financial enterprise. After the 2008 economic crisis and due to financial insecurity, the goal was to take power from the banks and to give it back to the people. That is where cryptocurrency, with its blockchain, stepped in, and the ‘power’ went solely to the coin holders.
People welcomed all of these new changes, but cryptos, and bitcoin as well, have yet to reach the widespread support of the people. Although that lack of trust is understandable, more and more people are starting to believe, invest, and buy coins. For those who are still not on this crypto train, you are in the right place, as we list ten reasons why everyone should consider joining this investing in cryptocurrency trend.
1. You can Invest 24/7
There is no bank which is working all day. Wall Street also has working time. But when we are talking about cryptocurrency and its trade, there is no time limit and working time. You can trade and invest any time you want, so that can be ideal for those with limited free time. Regarding this, it is never too late to invest and start trading because this trading system works all the time, and it will work for a long time.
2. Everything is Transparent
If we talk about the traditional bank system, there are always some fees and obligations that you have to pay. Sometimes those fees are hidden, and you don’t have a perfect view of it. Cryptocurrency trade is transparent, and you will always know the exact numbers, without anything hiding from you. That means that you are always protected, and your money is safe too.
3. Enormous Growth Potential
The name says it all, but here are some numbers that will show just how cryptocurrency is growing. The value of the crypto market in 2019 was 1$.03 billion, and the projections are that it will reach 1.24 billion USD by 2024. As for the adoption of cryptocurrency, it is regularly increasing (doubling by 100% per year), and now is at 0.2 percent. Over the next decade, this tremendous growth potential and the immense opportunity that comes with it should be something to consider when investing.
4. Institutional buy-in
What this means is that some major financial institutions, corporations, and very influential companies are heavily investing in cryptos. It is yet another proof of how favorable public opinion is getting, and their actions should be a good indicator of the influence and the potential growth of bitcoin.
Many people today still trust in what that can sense and feel, and for them, the fiat currency is the best. But when we do our math, the secure and more efficient way to invest and store our money is with cryptocurrency, and to answer why, it is quite simple, because of their use of cryptography. Blockchain is as close as we are today to something unhackable. It doesn’t mean that it is, but it is still the best security system in the world, and with cryptos, you are the only one who has access and can manage your money, not the banks.
6. Transaction fees
The indisputable fact is that the fees are much lower with cryptocurrencies than with any other payment method. It is a significant fact that also encourages new investors to trade more. With crypto, the fees can vary, but they can only be up to a fraction of a dollar, or non-existent at all.
7. Amount Limit
For those who travel often or those who don’t like to carry large amounts of money with them, which is often illegal, this type of currency is the best. You can access your wallet from almost anywhere, and don’t need to think about the laws if you want to go somewhere and purchase something more expensive. It is a much more convenient way to do your transactions.
8. Privacy and Anonymity
This question is making everyone raise their eyebrow. In the world where everything we do is stored somewhere, caring about privacy is at the top of the list. That is why anonymity is one of the most significant features of the crypto market, and what they do is stopping third parties (banks, countries, etc.) from watching and observing your activities. No matter what some people believe, this protection is made for regular people, and not for the criminals, and just one example – criminals also found the way to fund their illegal activities with fiat currency. It doesn’t mean that this system is inadequate, only that criminals will always find some way for their projects, but with cryptocurrency, you will not be a victim of spying.
9. Safer than Traditional Investments
With the continued tightening of the U.S. interest rates, most of the people are choosing to invest in gold and similar assets. This action is nothing new, as we could see it many times before, but today, there is one significant difference, the existence of cryptocurrency. It is proven that today when people decide to go for non-traditional investment, plenty of them are choosing the bitcoin.
10. Profit Potential
Investing in bitcoin is considered as investing in the future because its value can only go up. All predictions claim that the price for 1 BTC can go very high, very fast, and some analysts even state that it will reach a value of 100.000$ by the end of 2023.
Joining the cryptocurrency hype is something everyone should at least consider. There is no need to be skeptical or afraid of it, and people should embrace this new currency and learn more about it. It may seem like a complicated world, especially for someone new to this, but that is why many platforms have demos and all the help someone might need. Some platforms even provide financial experts and brokers that can help both the beginners and those who already have experience in trading. For more information about this, visit it.cryptoengine.app.