Looking at the drastic changes in the exchange rates of Bitcoin and other cryptocurrencies, many people regret that they did not invest in the past some of their savings to earn easy and huge money. Today, there is an opinion that such a situation has no chance to be repeated – even in a small part – and it is not worth to begin the adventure with cryptocurrencies, as this is a new form of gambling. Is this the right way of thinking?
The party is still young
Crypto’s popularity is growing all the time. Perhaps they will become something revolutionary – just as the Internet has become, which in the 90s was crawling and a lot of people did not believe that this project will survive.
Since the popularity of the crypto grows, they are a new form of investing, as their price will systematically go up. Even if the price of the famous Bitcoin moves down to the level of a few dollars, what do you think – will people turn away from it, or maybe most people will think that they now have the chance to buy it for pennies, and they will attack him?
Anyway, while cryptocurrencies are still young, in our opinion, it is worth entering into them and investing them a bit in order to not lose a chance. For what? For earning – even a few or several dozen times as much as we put.
For now, many people do not know how to buy cryptocurrencies. But in a few years, this knowledge probably will be available to the average John Smith. Then, due to the greater interest – the prices will be even higher, and the profitability of the investment will be lower. It’s definitely worth joining the party while it is still young.
Investing in cryptocurrencies – a new form of investing
Let us state the truth: cryptocurrencies have their bright and dark sides. They are a new form of investing – and in investing, there are losers and winners. There are projects that were created only to earn loads of money from gullible people, for whom this is a new form of an easy way to lose money. These people don’t realize that someone creates their own new cryptocurrency, makes a big hype around it, and looks at how his account balance is growing at a rapid pace.
But you should not have fears about Bitcoin, other mainstream and many of the niche cryptocurrencies.
There are projects that were created on the basis of a valuable idea of creating a decentralized, virtual currency of the future. Such a project is known to everyone as the above-mentioned Bitcoin.
There are also projects that were created to speed up payments on the Internet or to improve the operation of banking systems. And there is also nothing wrong with them.
Given these facts, cryptocurrencies have a lot of bright sides and are not definitely a scam – at least not all of them. And here is the mystery: which cryptocurrencies, out of a group of already existing thousands of them, are worth investing?
Obviously, if we knew it, we would be Gods or wizards. You need to understand one thing: if you will get some knowledge and you will be at least a little bit lucky, you can make literally millions of dollars on cryptocurrencies. This is definitely not risky, as, in a year, the exchange rate of famous Bitcoin, at its peak increased by about twenty times (2000%). However, it is not a record-breaking number! There are some currencies, like STRATIS, in which this number is equal to 17000%. This means that after investing $1000, you could make $170000 after about a dozen months without any effort.
And here is the thing: the risk-to-reward ratio in cryptocurrencies is extremely attractive. You can invest money that you can afford to lose to dig a vein of gold. Of course, it sounds better on paper than in reality because cryptocurrencies have become very popular and at this moment it’s probably their biggest drawback. But as we mentioned earlier, they are still young enough to join the party.
Invest in a few cryptocurrencies
It is worth to put aside a few hundred dollars in the near future, which we will not regret (if we lose them) and invest them in a few different cryptocurrencies.
You need to realize that you can lose more money (or emotions, regrets) when deciding to not invest in crypto than doing it. Buying cryptocurrencies is a new way of smart investing.
What is the future of cryptocurrencies? Time will tell. But whatever happens, you should be one of the people who participate in this party – as cryptocurrencies are definitely not related to gambling and there is a huge chance for spectacular fireworks.