With the global crypto market poised to hit over 23 billion dollars by 2023, it looks more than ever like a time to start investing in cryptocurrency. Do you agree, and have you started investing? If not, you might be missing out.
Lucky for you, this article has dropped right on your doorstep. By the end, you should understand many of the benefits cryptocurrency brings. So read on and learn how to talk about the advantages of crypto with confidence.
Transparency
When you make a transaction to buy or sell Bitcoin, you enter a record into a permanent public ledger. This ledger’s name is blockchain. People cannot easily manipulate or alter it because it is a distributed form of data gathering.
This might not be a level of visibility people are used to, but it is a positive point in how crypto like Bitcoin works.
You should note that this does not reveal who you are straight away, so you keep your anonymity if you do not wish to declare who you are. The only times you might need to reveal your identity is if you use your crypto wallet to buy a service. In that situation, the person you buy it from may need to know who you are to confirm they are supplying the service to the correct person.
One way to get around any concerns you might have here is to own many wallets you use for different purposes. This approach allows you the benefits of both transparency and security when you invest in crypto.
From the point of view of consumers, this has several benefits. But it also has benefits when trying to have oversight of larger companies.
For shareholders and consumers, watching a company’s finances has several advantages. First, shareholders can see if the company’s valuation is accurate. Second, for consumers, this allows them to have assurances that the companies they use are on their best behavior at all times.
Accessibility
Bitcoin does not have many limits to how much money it can send or when it can send it. So while your bank might limit your transactions to a set amount of money, with a crypto wallet, you can send or receive the entire contents of your wallet. The only limits you might have are ones you have placed on yourself.
This level of accessibility has driven many high-rollers to invest in Bitcoin. This is especially true in countries whose infrastructure is far separated from the USA’s.
Several countries cannot send money to one another due to their limitations in how they wire cash between accounts. However, this is all put aside with crypto, as every country’s cryptocurrency system has the same core principles.
Another level of accessibility relates to someone’s location and social status. For example, having access to funds without owning a bank account puts much financial freedom in the public’s hands. One now only needs a smartphone or computer to be able to access their funds.
Control of Your Wallet
One of the most important benefits of investing in crypto is that your wallet is entirely in your control. There are no limits to your ability to send money back and forth between two accounts.
In short, many people do not want to have shackles that keep them with a specific bank or any other financial institution. Using your account or wallet without needing to inform another person can be freeing.
People you might not want to inform of your transactions include:
- Your bank
- Place of work
- Your government
- Your mother 🤣
While we joke, being able to control your finances away from family members can have its benefits. These benefits range from helping those who want to buy their spouse a secret present – to giving a lifeline to those in abusive relationships.
Growth and Appreciation
Cryptocurrencies have repeatedly shown massive potential for growth and appreciation in value. Some, such as Bitcoin, have already traveled a long way to show what they are worth. But it is not the only cryptocurrency on the market, and many more look as though they will be at least as popular, if not more so. It’s important to weigh your options when investing in cryptocurrency.
Many traders do not realize that while Bitcoin may have started the trend, other cryptos could be more viable in the future. Currently, Ethereum is the second most popular crypto out there. Many people are choosing to invest in it as a more serious currency. Although examples of many more cryptos that seem to be making a splash include:
- Ethereum
- Binance
- Cardano
- Tether
- XRP
Still, despite this, Bitcoin is where most investment lies because when writing a stable currency to invest in, the vast majority of crypto apps recognize it. Because of this, many people diving into the world of crypto for the first time try it out by investing in Bitcoin.
High Rate of Adoption
When using cryptocurrency, one of the concerns people have is whether others will accept such currencies. However, some more popular cryptos have a very high adoption rate, so that is not a considerable concern. Moreover, they have become so ubiquitous that even Square and Paypal now have options to use Bitcoin to pay debts.
On a larger scale, the high adoption rate is excellent for the economy. As more people convert currency into Bitcoin, you start taking money out of circulation.
According to a senior lecturer in banking and finance at Monash University, there is a multiplier effect on the money already available in the economy.
Very Lucrative Short-Term Investments
Cryptocurrencies are perfect for when wanting to invest in a currency for short-term benefits. Due to their nature, many cryptocurrencies have significant gains and dips. Over the long-term, these will not affect your profit a large amount, but risky short-term investments can see a very high return.
As an exception to this, Bitcoin has shown itself to be making consistent gains over the past year. For example, it has tripled in price in just the last twelve months.
A currency with this consistent gain shows it has matured a lot from its humble beginnings. Moreover, it proves that it would make a good investment for long-term crypto adopters.
Decentralization
Crypto is its own master, not tied to any particular organization. Nor is crypto at the whims of specific political entities or world governments.
Because cryptocurrency has this freedom, the only people it is beholden to are those who use it. So, a recession or a specific country’s fiscal policies will not affect the cost of a particular cryptocurrency. If anything, it could become even more popular and valuable to people in a country that is in recession.
This decentralization also offers you peace of mind through its security. When investing in cryptocurrency, you can assure that nobody is tracking your transfers if you have not made them public.
Short Processing Time
Many banks or financial institutions have lengthy transfer periods. Even worse, others might ask for up-front payments or a percentage of the money to transfer your funds faster. Something like this can put you in a difficult position if you need your funds quickly.
Cryptocurrency, though, transfers via the blockchain. As a result, all transactions happen peer-to-peer, so you do not need to worry about long wait times for large transactions. In addition, because no single bank owns all of a specific cryptocurrency, they cannot charge you to transfer any of your money in or out of your wallet.
Most transfers happen in only a few seconds, and you can assure that the transfer you made is entirely secure.
Fraud Protection
In America and many other countries, courts have determined that cryptocurrency is an asset. They have said that people should treat it the same as any other currency. Because of this, it carries with it several caveats and protections.
First, the government treats it like any other income or outgoing for tax purposes. But as they handle it in this way, many government departments will be able to protect you from fraud.
The IRS, CFTC, SEC, and others all have ways of dealing with crypto fraud. As cryptocurrency becomes established, these powers will only grow. Also, because of this, government recovery efforts related to fraud will become more empowered.
Internationally Accepted
Investing in cryptocurrency has no boundaries. you can avoid the problem of needing different currencies when you visit foreign places. Even if you are only making transactions from the safety of your own home, you can feel safe. You need not worry about exchange rates and companies skimming money during the exchange.
Even the New York Mayor is getting in on the action.
By using cryptocurrency, everyone involved in the transaction understands what the money is worth. There is no need to open Google and check the exchange rate at that specific time of day. You can even exchange crypto for any number of currencies at your leisure at a later time.
Many smaller businesses are now accepting crypto for this reason. So you should not be surprised if taxis, food delivery, or other services start accepting crypto soon.
Inexpensive to Attain
Getting your hands on cryptocurrency with very little finagling is one of its most popular features. You can start up a wallet and begin the process of purchasing crypto without needing to sign up anywhere or even pay anything up-front.
Once you have a wallet, you can get transferred cryptocurrency without even paying an exchange. Although, if you do work with currency exchanges and transfer some of your fiat currency, such a transfer is rarely expensive.
Minimal to zero transfer fees have allowed many small-time investors to start getting involved with cryptocurrency. Many of the reasons crypto has suddenly increased in popularity involve these individuals. They are people who have started their involvement as a hobby, only to become much more invested later.
The Future of Technology
Cryptocurrency’s most significant advantages come from its foundation, blockchain technology. The blockchain has proven to be very popular for shareholders and developers in recent years.
Getting involved with cryptocurrency means being an early adopter of a group of technologies that will lead the way in years to come. Even if crypto is not directly benefiting from this technology much more itself, there are other benefits. What we have learned while cryptocurrency has developed will improve many different world areas moving forward.
The most recent large adopters of the technology underpinning crypto have been in video games. However, video games could revamp the blockchain industry and make great strides in developing the technology.
How to Start Investing in Cryptocurrency
You may now begin to understand how investing in cryptocurrency can be a wonderful thing for your life. However, you might still have some questions, like how to start investing and where the best places to learn more are. If that is the case, you can always contact us to begin your journey toward buying cryptocurrency.
Our site also has information on how to get a Bitcoin wallet with advanced features and secure protection from intrusion. So talk to us today, and we will be able to help you get involved in this investment opportunity.
