Stop right there investment lover, how is it possible that you are not investing in cryptocurrency yet? You are losing your ground in the new online investment world.
You have surely already heard people talk about Bitcoin, but the first thing to know about cryptocurrency is that there are a lot of different currencies in the online market. Their value, volatility and their creation method might be some of the thing that vary from one another. Some other names you might find are Binance Coin, Yuan Pay Coin, Ethereum, Dogecoin, just to name a few.
Cryptocurrencies are a regulation free digital asset, no country, bank or entity have any control or regulation over them. This quality might have some downsides though, but it also has many benefits that far outmatch the first. Down below, we will list some of these benefits.
Cryptocurrencies pros and cons
A really common questions is this, Does the fact that these currencies lack any type of control or regulation make them as trustworthy as any other type of currency? First of all, all investment can carry some risk, but with Cryptocurrencies, it has mostly been benefits for some time.
Because they are a digital currency, there is no physical thing to represent them, but this is not a bad thing. Cryptocurrencies use a very sophisticated system called Blockchain. This technology helps prevent frauds, steals or fakes providing a really high security to all activities. It’s basically an online registration that can’t be altered or erased.
They are very transparent. All activities performed with them are public. All users have access to this data. Also, thanks to not using any type of intermediary, all transactions are a lot faster than usual.
On another topic, they are an international currency, thanks to the fact that they do not belong to any country. This allows us to use them all around the globe. Also, many of them are disinflationary, with a pretty regular tendency to gain more value over time.
But let’s be real, there are a few points that can be a bit risky, as long as you don’t keep an eye out for them. For example, you’ll need to operate from a digital wallet. This can become a problem if you lose your password, which can stop you from making any type of transaction with your money.
It’s not an anxious friendly currency. As we have already mention, volatility is one of the main characteristics of cryptocurrencies. One day they might be worth a lot of money, and the next they can fall and rise back up in minutes. It’s essential to follow the tendencies and news of our chosen currency, in order to anticipate these drastic changes and take advantage of them.
Some other problem is that not all enterprises accept this kind of currency, this might slow or stop your transactions. Though more and more businesses chose to trust this modern way of making business.
The most trustworthy cryptocurrencies
There are many cryptocurrencies available in the market. So, the question might arise, which one should I invest in? This decision should be made taking many factors into consideration. In this next list, we will tell you about some of the most trusted and used of all to help you make that decision.
- Bitcoin: This was the first digital currency of all, and it’s also the most used and accepted of all, it’s probably the best in order to keep your savings.
- Ethereum: this one is related to big companies such as Microsoft and Intel, it’s one of the most promising coins of this new market, with very high expectations for its performance.
- Polygon: a sidechain of Ethereum, this already give good vibes. It’s known for its low transaction taxes and fast liquidation.
- Cardano: one of the main Ethereum contester. Its transactions are faster and cheaper though, thanks to its proof-of-stake This makes it one of the most ecosystem friendly of the market too.
- Yuan Pay Coin: very accessible in almost all countries and one of the direct contenders of the Bitcoin, it also really common in all digital markets.
Now you know! Start investing your savings in cryptocurrencies and join the easy-money party! Take the chance and start enjoying the benefits of this new market!
