10 reasons why you should invest in cryptocurrency

The world of cryptocurrency has seen a major spike in growth over the last several years. People have begun to take notice, and obviously, there are more reasons why you should invest in cryptocurrency now than we ever had.

But some still have doubts about investing their money in this space.

If you are one of those still having doubts about investing in cryptocurrency? It’s normal, virtually everyone was in that phase before they got to the conviction stage.

But not to worry, We have got something that will interest you. In this article, we will be sharing with you, reasons why you should invest in cryptocurrency.

The cryptocurrency market is still in its infancy, but it shows no signs of slowing down. The market cap for all cryptocurrencies surpassed $700 billion at the end of 2017.

It’s a number that continues to grow and show promise as investors continue to pour money into the digital currency space.

Here are reasons why you should invest in cryptocurrency

Reasons why you should invest in cryptocurrency

1. Total control over your money

reasons why you should invest in cryptocurrency

Imagine what it would be like if you could take back control of your money. You’ve always been told that banks are safe, but history has shown us over and over again that they aren’t.

The 2008 financial crisis affected every single person in the world, even those who lived outside of the United States.

Unfortunately, things won’t be any different in the future. We can see this by looking at the growing sovereign debt crisis and the looming threat of bank collapses.

The truth is that banks just don’t care about you. To make matters worse, most. of the time, they prove this with their action.

But with cryptocurrency, all that isn’t possible, cryptocurrency uses encryption techniques to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank or government.

Cryptocurrency offers you total control of your asset, this is a great way to take back the system which belongs to you.

2. Decentralization

According to IMF, “We live in a world where the creation and transfer of money can be almost instantly performed with little or no transaction costs.” Cryptocurrencies are decentralized, which means that it’s outside the control of any authority.

This makes them better than banks because banks charge you for holding your money. Banks charge you both a fee (to hold your money) and interest (for borrowing the money).

Every time you deposit at the bank, they charge you a fee (which is called interest on your deposit). These fees can be as high as $30 per transaction.

By removing centralized banks and financial institutions, cryptocurrencies allow users to trade directly with each other through a decentralized network.

No hidden charges

3. Increasing acceptability

The increasing acceptability is one of the top reasons why you should invest in cryptocurrency.

An increasing number of companies are accepting cryptocurrency as a method of payment, and the trend is expected to continue growing.

Crypto’s acceptance will only drive the demand for its adoption by more businesses and consumers, effectively creating a snowball effect.

It is a good choice to invest in cryptocurrency now because the increasing adoption rate will only increase the value of different cryptocurrencies.

4. Transparency

Cryptocurrency is a digital currency. It is designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.

Cryptocurrency is powered by Blockchain technology, which is a public ledger that records all of a cryptocurrency’s transactions.

It is continuously growing as “completed” blocks are added to it with a new set of recordings. It allows market participants to keep track of digital currency transactions without central recordkeeping.

With cryptocurrency, one can easily know the number of transactions performed on a single wallet address.

You can trace where the money came from, where it went to and what time.

5. Deflationary assets

Deflationary assets are those which increase in value with time. There are many types of deflationary assets and they include real estate, hard assets, gold and silver. The most popular form of deflationary asset is cryptocurrency.

The supply of bitcoins and other cryptocurrencies is finite. As a result, they are deflationary assets, meaning their purchasing power increases with time. Cryptocurrency is great for long term investment.

6. Security

Cryptocurrencies are known as digital currencies. Cryptocurrencies use cryptography which is a system of converting legible information into an almost uncrackable code, to track purchases and transfers.

They are called cryptocurrencies because the consensus-keeping process is ensured with strong cryptography. It’s impossible to hack. As long as you have your private key, it cannot be taken from you.

7. Fast Transaction

Even though the transaction times for cryptocurrencies varies based on the blockchain the currency is based on, cryptocurrency transactions are faster than normal bank transaction.

For example, Bitcoin transactions take about 10 minutes to be confirmed. Ethereum transactions take only a few seconds to confirm. And Ripple transactions can happen in as little as four seconds. Other blockchains can differ but most follow a similar pattern.

Cryptocurrency transactions are fast to carry out, and their security features make them an attractive option for businesses that accept payments online.

8. The Rapid increase in value

One of the major reasons why you should invest in cryptocurrency is because of the rapid increase in the value of different cryptocurrencies.

Cryptocurrency is becoming popular in the world as a form of payment as well as an investment tool. There are now more than 1600 cryptocurrencies in existence, with an estimated value of over $200 billion USD.

This number is expected to rise even further. Cryptocurrency has been increasing in value at a rapid rate, with more and more cryptocurrencies being added to the list of the top 100 coins with a significant market cap.

It’s becoming so popular that entrepreneurs and business moguls who are investment savvy are taking notice.

With cryptocurrency, you don’t necessarily need to go for long term purposes before you make money from the system. You can just be fine with short term investment in cryptocurrency.

9. Reduced chances of theft or loss of fund

The rate of theft reduction that comes with cryptocurrency transactions is among the key reasons why you should invest in cryptocurrency.

A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

With Cryptocurrency, banks can’t steal your fund anymore. No more need to trust any third parties. You have full control of your cryptocurrency with the help of a private key.

The security of the fund rest on the shoulder of the owner, no intermediary, your private keys are unique to you and once you don’t share them, your funds remain safe.

10. Transformational Financial changes

With cryptocurrency comes Transformational Technology. Cryptocurrencies are the future of money, and when you invest in one, you’re becoming a part of a much larger movement.

When you hear about Bitcoin, it’s easy to say that it’s just another form of digital currency that will be rendered obsolete by the next flash-in-the-pan trend.

But far from it, cryptocurrencies have brought a new system to the financial ecosystem, one that has come to stay, to change the norm, it is right you become part of it in this early stage.

Also, Read

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5 Common Misconceptions People Have About Cryptocurrencies

How to Make Smart Trades and Minimize Losses in Crypto trading

How to know if a Cryptocurrency is Viable [6 Proven ways]

Summary of reasons why you should invest in cryptocurrency

Even though cryptocurrency is still relatively new and that there are plenty of growing pains.

The industry is still in its infancy, it inevitably will be poised for exponential growth in the coming years.

Would you rather keep doubting or invest now to benefit from the value growth in the coming years?

The choice is yours but the truth is, We would prefer to invest now if the choice is for us to make. But like they always say; you will be responsible for your choice.

Trust you enjoyed coming around?

You can share your fears about cryptocurrency in the comment box below, we will be glad to hear from you.

Cheers!!

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