You may have heard of Bitcoin, Ethereum, Litecoin, and other cryptocurrencies out there. In 2008, Satoshi Nakamoto made Bitcoin. It was a reaction to the 2008 financial crisis. If you’ve read news about cryptos, you may have also heard of mixed reviews about them. But if you are looking to diversify your portfolio, it might be a good idea that you stick towards having some cryptocurrencies.
There are finance experts that are now doing this. Even Warren Buffet who called Bitcoin as “rat poison” invested in a company that is involved in cryptocurrencies. And also, you have countries such as Venezuela that are taking a closer look at having a digital currency to solve economic problems. But why should you invest in crypto at this point?
Changes in the legal front
The first reason is that there are changes in the legal front. It means that regulators are slowly accepting the fact that cryptocurrencies are here to stay. It means that they can’t do anything to ban digital currencies simply because it is based on a decentralized technology called blockchain. Though they can go after exchanges like what China did, there will always be peer to peer options for traders.
Countries such as the US is even thinking of having crypto-based investment vehicles that could potentially even raise the value of Bitcoin.
Potential to earn
Next reason why you should go and have some cryptocurrencies at this point is the fact that you can earn a good amount of money if you wait long enough. Though there is always the risk of losing a decent amount of money, keep in mind that there is also that chance to earn. And just like any other investment, there is that risk.
If you are looking to invest in crypto, might as well do your research. Try to see if you are a short term investor or someone looking to stick until the end of time.
Adoption is coming
And of course, you have to understand that adoption is coming. Some countries are even looking closely at having an official cryptocurrency. You now have stores in different countries that are accepting cryptocurrencies such as Bitcoin and Ethereum. But of course, you have to do your research which cryptocurrency is being used by different stores.
Thousands to choose from
There are thousands of cryptos to choose from. If you are after profits, likely, you can easily find the right one for you. There are those cryptocurrencies that can all of a sudden jump by 1000% in a few weeks or months. On the other hand, some can do the complete opposite. You simply have to do your research and be diligent enough to know the risks.
Cryptocurrencies can be considered a game-changer in finance and technology. Nowadays, it is possible to keep your assets and even the government can’t freeze them. You can safeguard your assets and everything is in a public ledger. These are characteristics of cryptocurrencies that you might want to look into. These are things that make it such a good technology for the future.