Cryptocurrencies have become a hotly debated topic across the world. In fact, you yourself may have had an interesting crypto debate with family or friends. The world of crypto is quite complex and nobody knows everything about it. This makes it all the more challenging to start investing in cryptocurrency or have rational conversations about it.
Few cryptocurrencies like Bitcoin and Dogecoin have gained mainstream credibility due to mass adoption, especially by juggernauts like Microsoft, PayPal, Starbucks, and more. Other digital currencies like Ethereum and Cardano have generated lucrative returns.
- Investing in crypto as an inflation hedge
Known as “digital gold,” bitcoin specifically was known as an inflation hedge for years thanks to its built-in scarcity. Minting of bitcoin will stop once the number of coins in circulation reaches its hard cap of 21 million. Due to rapid mainstream adoption, bitcoin’s value is projected to grow as demand increases.
- Take part in decentralized banking
A big reason why people love crypto is for the decentralized ethos of peer-to-peer, permissionless banking. Onboarding a new generation of consumers to a digital economy of algorithmic money theoretically eliminates the need for central banking institutions, along with their fees and oversight.
- Enjoy Dramatic Return On Your Investment:
Take a quick look at Bitcoin for an understanding of just how dramatic a return one could make in the crypto sphere. According to Coinbase, in August of 2012, a single Bitcoin was valued at $112+. At the time of writing in December of 2021, a single Bitcoin is valued in excess of $57,000.
- More Transparency in Transactions
One of the best arguments in favor of investing in cryptocurrency—and for some, the primary impetus behind the use of blockchain—is that it allows for a type of transparency that protects all parties in a transaction.
- The Full Potential of Blockchain Is Unrealized
Such partnerships as the one noted above demonstrate that new entrants into the field of cryptocurrency such as Avalanche are continuing to deliver new innovations to the sector.
- Flexible and Independent trading
The 24×7 accessibility of crypto trading makes it extremely flexible for traders to organise their trading during any part of the day. Besides, there are several altcoins like Ethereum, Dogecoin, Ripple as well which increase the potential of gaining wealth and help traders diversify their portfolios.
- Good choice for long term investment
Despite the volatility and fluctuations that characterize the crypto market, investments in crypto are seen to be extremely beneficial in the long run. They can act as a reasonable source of savings post-retirement or give you some much-needed financial buffer during a sudden economic crisis.
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