Whether or not you believe in cryptocurrencies, trade them, or have invested in them, it’s normal to be curious about their future and whether they’re here to stay.
Let’s examine some foundational reasons why cryptocurrencies may be here to stay and why it may be the ideal time to invest in them.
Why Cryptocurrencies Are Here to Stay (and Why You Should Consider Investing)
Day trading is fueling crypto growth
The volatility of cryptocurrencies makes it very unpredictable. However, if we’re judging from past trends, most cryptocurrencies usually experience a dip every so often before shooting up bullishly. These price fluctuations are why crypto trading has become a day trader’s field day.
Moreover, as day trading becomes increasingly popular, thanks to Instagram, Facebook, TikTok, etc., reels and feeds glamourising the crypto trader lifestyle, more and more people are boarding the crypto train, further fueling its entrenchment in mainstream society.
More mainstream companies are now crypto-friendly
Because they have become so mainstream, most major companies, like Microsoft and Paypal, now accept cryptos as payment, further cementing their place as an accepted means of trade, volatility notwithstanding.
Now more than ever, it is evident that crypto will be the future. You can now go on vacation to places like Dubai, the Maldives, and even Bali and pay using cryptocurrencies. A platform like XCELTRIP makes this possible as they accept cryptocurrency as payment for booking hotels and flights.
You don’t need millions to invest in cryptos
The value of each crypto grows as crypto enthusiasts trade a specific cryptocurrency, meaning those who got in earlier are still reaping from it. You might say, “but the value of a cryptocurrency like Bitcoin is too high for me to get in and capitalize on this opportunity.”
Yes, but the good thing about cryptocurrency is that you don’t have to buy or own the whole thing; a section of it can work for you too. Think of investing in cryptocurrencies as you would a whole pie where everyone gets a piece.
It’s worth noting that investing in cryptocurrencies will most likely not make you rich overnight. However, even if you are a new crypto investor, knowing a few key things before investing in cryptos can make this a worthwhile investment option.
Banks are quickly losing their allure as currency decentralization becomes more and more appealing
Think about the leverage banks have over people’s money. For example, to make a transaction, you first must go through a bunch of red tape before the bank allows you to transact using your own money, not to mention the costs involved.
Crypto is a borderless medium of exchange that makes it possible to transfer money across the globe in no time. The faster transaction times and low fees are increasingly making cryptocurrencies the preferred payment, especially for large international money transfers.
Cryptos are a valuable asset class
We can consider cryptocurrencies an asset class. Consider Bitcoin, of which there are only 21 million available.
Notwithstanding the associated volatility, the value of Bitcoin largely depends on its scarcity. The closer miners get to mining the last block, the higher you can expect the price of Bitcoins to be, and, as you know, as long as Bitcoins are valuable, the blockchain technology, and most of the cryptos that use it, will be here to stay.
The security of the blockchain technology
The encryption associated with cryptocurrencies also offers you a degree of security not offered by having fiat money in the bank. The unrestricted nature of ownership allows just about anyone, even those with no traditional bank accounts, to access it, which many find appealing.
Are you still concerned about the legitimacy of cryptocurrencies? Not to worry because that is where the blockchain comes in. The security features behind the blockchain that supports most cryptocurrencies are robust, making every crypto non replicable and appealing to security-conscious people, which is just about everyone in this modern world.
Tons of signup bonuses, especially if you have cryptocurrency exchange invitation codes
So, yes, this is the right time to start investing in cryptocurrency if you haven’t yet.
Fortunately, getting started with cryptocurrencies is easy because signup only takes a few minutes.
Moreover, new crypto traders can take advantage of signup offers and discounts on all major cryptocurrency exchanges using cryptocurrency exchange invitation codes from cryptocurrency codes.
As the global economy grows, more companies are sure to adopt cryptocurrencies as a medium of exchange, which is bound to entrench cryptocurrencies into our society as a medium of exchange.
So yes, every indicator shows that cryptocurrencies may be here to stay, and now may be the right time to invest if you are a savvy, informed investor.