Cryptocurrencies are digital currencies which are used to carry out worldwide transactions and as such are different from a country’s usual currency. Towards the end of last year, there were speculations that service providers like Amazon and other popular corporate bodies would begin to exchange their services and receive bitcoins as payment.
With the digital currency trend waxing stronger by the day, we are being presented with more reasons why we should invest in these currencies. Here are the top 5 reasons why you should actually invest in cryptocurrency.
- Unimaginable returns: The amazing returns that dealing with cryptocurrencies yields is just the first amongst a myriad of other reasons why you should invest. In a short time, you can gain your price money and even make profits in the process. Taking the bitcoin as an example, an investor who invested early 2016 and held on to their coins would be worth millions now! For ethereum, the returns are even unreal! If you had invested say $10,000 in 2016 you would be worth over a whopping $500,000.
- Huge potential investment: When it all started out, people were sparsely interested to downright pessimistic about investing in cryptocurrencies. Crypto goes way beyond bitcoins; there are hundreds of cryptocurrencies that can yield huge returns in no time. The reason people are refraining from investing is because they do not fully understand the technical terms used by most of these currencies. It is time to move with the trend before it becomes rather too late to hop on the train!
- Increased global acceptance: As stated earlier, service providers are looking at ways of introducing cryptocurrencies as a means of payment for services, if there is a time for you to invest in cryptocurrencies, the time is now. By the inclusion of these digital currencies as a means of payment, it means in no time, they will enjoy even more popularity and appreciate more in value.
- Cryptocurrencies in addition to the above are really the fastest medium of exchange obtainable in these recent times. Cryptocurrencies are ten times faster than the fastest exchange medium you ever used so why not?
- Flexible trading: With the heightened protection accorded to cryptocurrencies, they are (maybe arguably) safer than your regular cash transactions. They can be easily traded while transacting parties retain their anonymity.
- Cryptocurrencies are literally immune to inflation: This is probably the best part about these digital coins. Regular currencies of exchange in different countries are subject to control by their governments. With the use of cryptocurrencies (which are naturally free from intrusion by any government) your cryptocurrencies are safe from any advent of inflation.
- No taxes: Due to the fact that parties transact without the involvement of third parties, there are no taxes collected on the use of cryptocurrencies for your transactions.
These are just a few reasons why you should invest in cryptocurrencies. There are a thousand more! Why not hop on this digital currency ride and make profits while you are at it?