3 May 2021
The year 2020 has been a rollercoaster ride for each and every one of us - the year 2021 brings hopefulness in every aspect of life. Health is wealth - is truly the quote we all should seriously perceive, however, in this blog, we are going to talk about wealth.
One can attain more wealth and reap benefits when they invest money and one such approach of investment is cryptocurrency. As much as we look forward to the year 2021 - bitcoin has already hit an all-time high $22,000 before the year began!
So if you are wondering whether you should invest in crypto for the coming year 2021.
In this blog, we are going to discuss Investing in Cryptocurrency this 2021:
The first cryptocurrency - bitcoin was launched in 2009 leading to overall 5,392 cryptocurrencies. In over a decade, cryptocurrency has not just grown in numbers but also reflected its popularity and uses cases. Since, cryptocurrency is backed by blockchain technology, whose key feature is decentralization - many projects are adapting to cryptocurrency.
Many crypto-enthusiasts not only use cryptocurrency for investment purpose but also for transactions of products and services purposes. Due to the decentralized nature of cryptocurrency, the users have complete control over their finances, unlike the traditional fiat system.
One of the most popular reasons to invest in cryptocurrency is its high liquidity as the activity of the market and trading keep growing leading to a higher frequency and volume aiding to enhance the liquidity.
Also, the ROI of cryptocurrency when compared to the traditional investments are stated to be much potentially profitable and even though cryptocurrency is volatile, if you are on a diligent lookout with the right investment strategy - the potential of earning profit is pretty much there.
For instance, let’s take bitcoin - it started as the first cryptocurrency with many ups and downs and yet here it is during the pandemic hitting its all-time high of $22,000.
Investing with cryptocurrency you could elude dealing with third parties, intermediaries and middlemen. And since cryptocurrency is a digital currency - it can be accessed from anywhere and you would not need to be dependent on any financial institutions.
Also, many huge companies such as IBM and Microsoft are involving themselves in the crypto and blockchain space.
The other factors that add up to cryptocurrency are is its transactional speed, lower fees, transparency, has a diversified portfolio, diversification of the assets, and anonymity.
Various tools such as Crypto Trading Bots, cryptocurrency portfolios, HODL and many more are good strategical methods.
Invest in only the amount of money that you can afford to lose. Have a plan, a strategy and a set of achievable goals.
To sum it up, you should consider investing in cryptocurrency this 2021 for many of the few reasons such as its growth in demand, high liquidity, ROI, accessibility, and the last but not the least the potential future of cryptocurrency.