Couple of disclaimers on cryptocurrency investment advice and endless warnings, ‘cryptocurrency investments are very risky ventures…and the earth is flat’. Well, one is a fact, the other is probably another way to look at facts. A little focus will tell you which is which…just a little tease there, but that’s by the way.
Alright, fact is, the earth is a sphere and cryptocurrency investments are very risky, just as the saying. But at the end of the day, one question remains ‘unanswered’ or to be straight, ‘avoided’. And I’d love to bring it back again. “Cryptocurrency investment are risky, but what on earth is not risky?”. You’ll, have a hard time answering that, and probably why most people avoid answering it.
But don’t get too scared, I mean; don’t get too scared to dive into the crypto space, and don’t get too scared to put an answer to my question in the comment box, I love your engagements and once again, I need them…like the air we breathe, lol.
That’s by the way, back to it. Cryptocurrency just like most other investments are very risky ventures, there’s unarguably a more pronounced risk when it comes to cryptocurrency. The often outrageous fluctuations and nerve-spinning volatility gives it a good place amongst ‘a thousand ways to die in the west’…that wasn’t meant to scare you! For experienced investors and risk loving individuals (like myself!), volatility is a very tasty stuff, but sometimes it might burn hands.
Having said much about how rough the road is, you surely have a divided mindset, ‘should I go?’ Or ‘should I stay’. I’d go with the first (I already did!) and here are some reasons why you should do the same too…
Before you bought your first stock, you probably had a couple of researches and nights of calculation, a very good number of investors do clever researches before putting their money on the road; a very important step in investments. Venturing into the crypto space, the scenario is almost the same. But in general, blockchain technology which powers cryptocurrencies glitters with many enticing features which are just too good to be ignored. ‘All that glitters are not gold’, yeah, I’m sure you said that to yourself at some point, but if gold glitters, then you’re closer to hitting gold if the glitters get more enticing.
For a technology, blockchains are one of the most interesting inventions of the past couple of decades, the ability it poses and its numerous applications are certainly one to look out for. Cryptocurrencies aside, blockchains are one of the most advanced computing protocols which is unsurprisingly gaining mainstream attention. An immutable store of data, a flexible network for building almost anything on the internet, the list is endless. Venturing into the crypto space is as good as swimming in the oceans of blockchain technology, getting used to what has been a tangible offset of traditional ways of data storage, internet, finance…to mention a few. Regardless of the risks, these features should make you give it a try.
A very quick follow up to the aforementioned point. The features of blockchain technology are currently under-utilized and for any attentive investors, this technology is just starting to gain global recognition, and the only way is ‘up’! the future of cryptocurrencies and blockchain technology may be speculative, but that’s a common step for inventions poised to change the way things are done globally, taking a look at the bigger picture, cryptocurrencies and blockchain are one for the future, the limits are beyond reach, better said, there are no limits and impossibilities are just weak words thrown around by people who find it hard to chase dreams. This is same for cryptocurrencies and blockchain technology.
Cryptocurrency investments are risky, but it is even more risky not to take a close look at the future and your biggest regret might be not securing a part of the future. Stocks will still be a part of the future, same as digitized precious metals and the fiat currencies, but cryptocurrencies are poised to be the new comers and might be an important part of the future. Shaun the risk, secure a place in the future, try making your way into the crypto space.
I seriously resent the idea of cryptocurrency investments as a “get rich quick scheme”. But it is hard to ignore the fact that cryptocurrency investments makes mouth-watering returns. For investments in the last decades, cryptocurrencies have made the biggest return on investments, posting up to 20X gains. The ‘fast money’ idea is surely an unhealthy one and an investor who really wish to be successful in the crypto space must first get rid of this orientation and embrace the technology and avoid being over expectant of their crypto bags. Regardless, there is an already proven fortune in cryptocurrency investment, but just like every good thing, this take a lot of time and requires some good level of patience and persistence.
Your Tesla stock might have made you some good gains over the past five years, but most cryptocurrencies have made way more during this same period of time, this is unarguable. With more risks come even more rewards, dive into the ocean, take the risks, give it some times, reap the fortunes.
Stocks are great, digital gold are good investments too, but what about an investment that gives you total control over what you own. Decentralization in cryptocurrency gets rid of third parties and middlemen in handling some core financial activities such as blockchain-level send and receive. The freedom of being able to send a store of value across to anyone anywhere and not worry about exchange rates and delays due to the banks not processing payment, or even decline of payment because of some blurry reasons is something you should really pay some attention to.
Cryptocurrencies come with some enticing level of freedom and privacy in management of your finance and performance of some core financial activities. Probably this doesn’t sound so clear to you, but here in the crypto space ‘you are your own bank’. Guess that sounds better!
Still got a couple more reasons why you should make that cryptocurrency move, but somehow I feel the above points are enough to make you dive in, if you’re still in doubt, then hit the comment box, a special second part will be coming through for you!
However, endeavour to apply some caution while investing.