Many people are skeptical about cryptocurrency and whether or not it is a good investment. They see the volatility of the crypto market as evidence that it’s just another bubble ready to burst. The fact that every time Bitcoin suffers a crash, so do other popular currencies like Ether and Litecoin doesn’t help much either. But those who think this way simply fail to understand how cryptocurrencies work and why they have been created in the first place!
Does Cryptocurrency Have a Future?
Let’s put things into perspective. When it was introduced back in 2009, Bitcoin was virtually worthless and people didn’t know if it was going to survive as a financial tool or not. It took almost 8 years for Bitcoin to reach its record high of $20,000. But that wasn’t the only cryptocurrency to grow exponentially during this period! All cryptocurrencies grew at similar rates. So why are some people saying that cryptocurrency is just a bubble about to burst? Maybe they don’t understand how the market works…or maybe they’re making money off your fear!
As soon as you buy a currency like Ether or Litecoin, what do you get? Nothing but numbers on your computer screen. You’re basically choosing to believe that these numbers will be worth more money in the future. It’s hard to believe that you can make money out of a bunch of numbers, but this is exactly how it works when it comes to cryptocurrency. You see, what makes cryptocurrencies different than other currencies is their intrinsic value.
Unlike fiat that has no inherent or enforced use, cryptocurrency has an intrinsic value because these digital coins and tokens are used as payment for services and transactions within their respective networks! Other forms of currency like gold also have some form of intrinsic value because they can be converted into cash. This fact alone guarantees that digital coins will not disappear anytime soon!
Why Would People Invest in Crypto?
The cryptocurrency was created to eliminate the need for banks and minimize transaction fees which significantly drop after each transaction. It is expected that this digital money will eventually replace fiat as a form of payment on the Internet and possibly in your local store! As more businesses start accepting cryptocurrency, security and fraud protection become top priorities for leading financial institutions. This spells good news for crypto investors who stand to earn big from their investment once it gets adopted by mainstream society!
Cryptocurrency may be a bubble right now, but you can’t deny that it has created one of the most exciting times ever in modern history! You too can make millions or even billions if you get into the market early enough and play your cards right…and there’s nothing stopping you before then! If you still feel like cryptocurrency is not meant for you, simply buy some Bitcoins sit back, and watch your money grow…after all, it’s not like you have any other option!
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