Why invest in cryptocurrency?

  • Cryptocurrency has a low transaction cost, making it cheaper to buy and sell the asset.
  • Cryptocurrency can be a very high reward investment, due to the volatility in the market.
  • It’s a decentralized currency. This opens up financial options for people in countries that don’t have access to financial services.
  • Transactions are quick, permanent, and hard to fake, this eliminates a lot of the fraud issues banks deal with.
  • Most cryptocurrencies are built from the bottom up with security and privacy in mind.
  • Cryptocurrency is fairly liquid, it is easy to buy and easy to sell in the markets.
  • Transactions can not be traced.
  • Since the users of digital currency are in control of their transactions, this helps in keeping it safe. Transactions are made independent of the identities of the parties making them. This protects users from identity theft.
  • All traditional currency experiences inflation because of economies shift prices and governments continue to print more money. Bitcoin and other cryptocurrency do not experience this as much because there is a finite number of minable Bitcoins.
  • Secure and private transactions can lead to making it easier for people to skirt the law.
  • The value of cryptocurrency changes and laws on how to claim them as taxable income are fuzzy. It can be unclear as to how much value the coins have and thus can confuse what taxes should be paid on them.
  • Cryptocurrency is not accepted by all vendors, only specific ones.
  • The cryptocurrency market is volatile, the value of coins can change wildly in a short amount of time.
  • The coin you trade for a legal thing today can be used to fund awfully illegal things tomorrow.
  • If something goes wrong with a transaction or if a coin is lost there is no way to recover it.
  • Transactions with bitcoin can not be traced.

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Writer: investing and business; founder of: www.onezypher.com Youtube: https://www.youtube.com/channel/UCWS7elrZu8CQ0ml9gbRHuAg?view_as=subscriber

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Jagdip Sanghera

Jagdip Sanghera

Writer: investing and business; founder of: www.onezypher.com Youtube: https://www.youtube.com/channel/UCWS7elrZu8CQ0ml9gbRHuAg?view_as=subscriber

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