WHY YOU MUST DIG IN TO CRYPTOCURRENCIES

Over the years, we have seen rather a subtle talk over cryptocurrencies but it has been one of the major headlines in the business world and has really profited investors both young and old who took advantage of it earlier.

It may look foreign, scary but in essence it is very vital for it to be considered as one of a must look portfolio to be held by any investor and at the end of this article, you will understand the reason you need to have it going forward.

With technological innovations springing up in our world today, the financial and payments sector is definitely has its own coming in a rather disruptive way, Cryptocurrencies.

Cryptocurrencies simply, is a digital representation of money with added complex security called cryptography such that all transactions are securely placed on online ledgers accessible for all to see called the blockchain. Cryptocurrencies addresses the need to make money easily accessible by anyone anywhere in the world with little or no fees without the need of a bank. They are transacted securely over nodes or computers that agree to transactions. It has no need for a bank.

Bitcoin is the first Cryptocurrency to have been available in 2009. In its initial years, like any technology struggled but as people who use it began to see its high benefits both online and offline, it has never looked back. It is now possible to send money to anyone anywhere in the world irrespective of the amount like the way email or whatsapp is sent.

The price of Bitcoin in 2010 was around $0.06. At the time of writing this, the price of a Bitcoin is $4,847.54 which represents 8,079,233% increase in price over a period of 8 years. What are the implications?  Meaning, if you spent just $1 to buy Bitcoin back in 2010, you would have been holding 16Bitcoins now which would have been worth $77,560.64 (16*4,847.54). The big question is what if you decided to invest $100 or even $1000 for the big investors?

Bitcoin isn’t the only Cryptocurrency out there currently, there are over 1000 cryptocurrencies and more will be coming because of the existence of the powerful technology called blockchain. Gradually disruptions are taking place and it will be affecting every industry but I want to stay in the investors’ zone on how it benefits them. Let me shed more insights on it further.

Let’s consider the growth patterns of some selected cryptocurrencies for your understanding. Ethereum is one Cryptocurrency launched in 2015 with price of $2. Currently the price of an ethereum is $300 which represents 15,000% growth in 2 years. Dash also launched with $0.21 in 2014 and is now $284.43 representing 134,553% growth. Litecoin also started with a price of $4 in 2013 and now trading at $50.45 representing 1261.25% growth. I could go on and on but it is worth to note that, most of the good cryptocurrencies have more than 100% growth yearly on the average.

This is proper growth with digital currencies and all that is fueled by the market demand and usage. One of the best elements of cryptocurrencies is its limited supply to the market and it is inflation proof. 

Despite this massive growth, cryptocurrencies are still in its infant stages and now looking at mainstream adoption. Total market is around $153,583,485,410 which is still good news for investors. Global remittance figures hovers around Trillions of dollars annually, together with the daily trading volume of forex market of 3 Trillion dollars. So if cryptocurrencies are to disrupt these industries, then there is a window of opportunity to make it before it is too late.

Seeing the potential, it is best to have a portfolio of it and hold for it to grow along. With these areas even though technical, it can be an easy ride with a help of a good portfolio manager.

Cryptocurrencies is a must have for anyone who wants to see proper fund growth. There arises a question of risk. Certainly it poses the risk, what if the Cryptocurrency doesn’t grow or do well, or I lose money? There are high level secured ways of storing cryptocurrencies, the more reason you need to have a good portfolio manager to guide you through especially if you don’t have the time to be following the market trends and update. Your funds will be secured with hardware wallets.

In all, you don’t want to miss out on this new disruptive technology that is already creating wealth.

Wealth is all over, it is for you to take advantage and profit.

See you at the top.

Figures taken from www.coinmarketcap.com