Some of you might still confuse about investing in cryptocurrency, as many people still ask that Is Cryptocurrency a Good investment or not. My personal opinion will be same i.e. definitely big YES, as being biggest crypto supporter and backing blockchain technology since 2017. However, there are thousands of reasons why you should own crypto as long-term investment.
Year 2020 is almost about to end and in the pandemic time, most people expected fall of crypto market, but all this went in favor of crypto. We finally see a new era of crypto with decentralized finance that forever changed finance network. In recent times, almost hundreds of projects debuted and there are more then 7700+ crypto projects are active. So, as per our prediction and market analysis, upcoming year 2021 will bring wow factor and billion USD market volume.
Is Cryptocurrency a Good Investment?
A big YES, and reason is very simple. Blockchain is a future and future of revolution in rise of digital money(currency). Most of countries including China, United Kingdom(UK) and United States of America(USA) considering to drop real cash and adopt digital currency. As crypto now allows users to exchange different fiat currency like USD, EURO and other top countries currency. In 2018, China and India were only two country who banned cryptocurrency trading but later India(Supreme Court) lifted the ban. As of now, China is the only (biggest)country which continue to block crypto trading in their region, but can denied most of the project originated in China.
Biggest social media platform Facebook which already owned Instagram and WhatsApp, planning to launch their own currency using blockchain technology, Facebook’s Libra will enable cross border payment using one currency, however project expected to launch in 2021. Companies google, Microsoft, IBM, Samsung, Amazon also unknowing developing blockchain based project in future. However, development team already kick started the project and most of them highly believes in terms of security and privacy blockchain can be one of the best technologies.
Merchants, online shops, ecommerce sites, local store already accepting crypto as payment method. In recent times, crypto based marketplace have already launched with development suit provided by different blockchain project. however, after decentralization of finance it is also taking over exchange, app and gaming industry also. However, gaming projects now allow users to buy gaming equipment and other online stuff, as it is also billion worth industry that continue its dominance in market. Gambling and betting platform also coming forward to have security, privacy that they also wanted to have.
Blockchain is limitless and it is proved time to time because technology already integrated with almost every technology and service. There are number of companies now already started providing Blockchain as a service. Industry IoT, bigdata, computing, cloud storage, apps considering blockchain as primary technology. Blockchain based project that will be used to track or offer renewable energy source by offering its equipment. As in that blockchain based payment will be highly used that automatically add worth in crypto industry.
In 2018, blockchain criticized for its privacy and security issues, as many investors faced huge loss due in various scams. However, 2018 was breakout year for blockchain but at same time it was also worst year. However, market was having bull run due to sudden growth in number of investors, however during that period many investors blindly invested into different project and faces huge loss. In the bearish run many investors who brought coins at peak price started selling their investment in fear losing money. As many believes in bitcoin and other altcoin is scam and market will never recover, but contradictory, it has started making slow recovery and now we can say crypto is back on track completely.
Comparing stock market with crypto still worth small but at same time crypto is unpredictable or hard to understand. Top analyst thinks crypto can outperform in future. as when you invest in crypto you are invested digital currency but when you invested in stock then you are invested in company. However, crypto is decentralized but stock is centralized that means decision making of crypto depend on coin holder but opposite to that stock will operated by company itself.
Investing in crypto is still risky but to crypto still provide risk free investment option. However, crypto recently introduced yield farming i.e. liquidity providing i.e. holding some amount of coins to maintain ecosystem of specific project, in return platform will provide reward with their own token. it was started with staking, as Ethereum network continue rise and bringing profitable option in investment. considering the fact, we still suggest you do proper study about crypto started from how it works and how it was made.
Choosing project to invest is really hard task to do. However, we know project like Chainlink, polkadot who already partnering with top companies and surge almost 3000% in recent few year. So, check for partnership, product they offer, trading platform listing. We still suggest if you planning to invest In crypto please considering as long term hold.