There are many opinions and perceptions surrounding cryptocurrency. These opinions mostly fall into two categories—the good and bad.
The good opines that cryptocurrency is the future of technology, especially money. The bad opines that cryptocurrency is bad for humanity encourages crime and constitutes global environmental concern.
The people who hold on to the second line of thoughts are skeptical about investing and think it might be best to avoid cryptocurrency altogether. So, what do experts think about cryptocurrency?
Expert, investor, venture capitalist, and real estate businessman, Ryan Hoggan, thinks you should be aware that there are scammers and there are risks associated with investing in cryptocurrency—just as there are in the traditional markets. However, the advantages of investing in cryptocurrency generally outweigh the worries.
It is one of the ways to make huge profits today. These are the reasons why you should consider adding cryptocurrency to your portfolio.
Adoption and Applications of Blockchain Technology
The internet that we all can’t practically live without today didn’t start as the best idea for a valentine’s gift for our society. The internet got accepted and was gradually adopted by our society as more people understood it.
The idea is not about the cryptocurrency itself; it is about something bigger than it and makes it revolutionary. Blockchain technology is diverse in its scientific application, and currency exchange is just one of its multiple applications.
Although its application as a form currency and store of value with Bitcoin, Ethereum, and almost 3,000 others are the more popular. With fresh applications of this technology emerging continuously and mostly welcomed by many people, it is safe to say that we are in the very beginning of societal acceptance and adoption.
Ease of Learning and Getting Started
In the traditional markets and investments, you have to either learn the trade or simply hand over investments to experts in the market to help you trade it how they see fit. The same way you can’t become a professor of mathematics in a week without any previous knowledge of mathematics is the same way most of us won’t be able to take on the intricacies of the stock market and become a professional within a week.
The time needed to understudy cryptocurrency and get in on investing and trading is highly reduced. Many investment platforms have simplified things and access these decentralized assets as easy as a click of a button.
Time is of the essence, and what be smarter than simultaneously learning and investing. It is essential to point out that the singular selling point over traditional investments is that your investment is designed not to be held by anyone else but you.
The benefits of cryptocurrency and the reason more people are getting attracted to it is in its ever-increasing prices. Although it is a highly speculative asset, the rise and fall of prices can be very volatile, but prices have proven its staying power throughout their existence.
For instance, Bitcoin is currently one of the world’s largest investments and asset class by $1 trillion in market capitalization.