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Reasons to Invest Your Money in A Cryptocurrency Today

by Chhavi Madaan
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A cryptocurrency is a decentralized payment system, which basically lets people send currency to each other over the internet without having to go through a bank or clearinghouse. It’s basically electronic money that you can use to buy things online and it was first invented back in 2009 and created by Satoshi Nakamoto (which might be a real name or a pseudonym). Each cryptocurrency has its quirks and the pros and cons of each one should be taken into consideration when thinking about making a purchase.

Why Invest In Cryptocurrency?

Control Over Your Assets

Cryptocurrency is a decentralised, or more specifically peer-to-peer or person-to-person payment system. This means that the control over your money is solely in your hands, and not with a bank who basically controls how much you can send and receive using traditional methods of online banking. Also, a bank cannot prevent you from sending money to another person.

Deflationary Assets

Basically, because the ‘coins’ themselves are limited in number (there will only ever be 21 million Bitcoins for example) they act as a deflationary asset; their value increases over time. This means that if you hold onto your coins for long enough, you’ll most likely see the value of the rise and increase over time even when traditional assets like the stock market have been struggling.

Another big perk of this is that the coins you hold will increase in value as more people start to use them, so there is a steady increase based on how many people actually invest in cryptocurrencies. Also, traditional currencies or ‘fiat’ currency is not controlled by a central bank and there’s no issue with it becoming too much or too little.

Practicality

People are starting to use Cryptocurrencies for everyday transactions, buying things like cars and houses. The most popular cryptocurrency in the world- Bitcoin is accepted by many large companies around the world including Subway, Wikipedia, and Expedia just to name a few.

Security

Most cryptocurrencies offer multiple levels of security that traditional online banking lacks. Cryptocurrencies are very difficult to hack into or steal from unless the owner is incredibly careless with their security.

Control Over Your Money

Centralized banks can control how much you can take out, when and where you spend it etc… Cryptocurrencies let you take full control of your money and choose what you do with it. You can send a friend a few dollars worth of cryptocurrency or a million, it’s totally up to you and there is no need for traditional banking regulations between two people making a transaction.

Also Read: An Ultimate Guide To Cryptocurrency

Good Choice for Long-term Investment

If you’re looking to invest in something that will appreciate over time, cryptocurrency is a great choice. As more businesses start to accept them and more people create exchanges where they can be used, the value of cryptocurrencies has been steadily increasing since they were first created.

No Debt

Cryptocurrencies are not controlled by any centralized bank or organization, so there is no interest, charge, or hidden fees associated with them.

Flexible and Independent Trading

Cryptocurrencies are not bound by national laws or controlled by any one country. They are also completely independent and can be used in whichever way the individual sees fit making them a very flexible trading option.

No 3rd Party

Cryptocurrencies like Bitcoin allow for direct peer-to-peer transactions meaning that there is no need for a middle man to process the transaction like a bank. This results in much lower fees and faster transactions.

Quick Transactions

Cryptocurrencies offer instantaneous transactions that traditional banking usually lacks (not always but it’s rare). So if you’re not in a rush for your money, cryptocurrencies may be the best choice for you as they are generally faster to transfer and receive than traditional methods.

Conclusion

Whether you’re looking to invest for the short-term, medium-term or long-term there are many reasons why cryptocurrencies could be a smart choice. Also, if you don’t want someone else controlling how much money you can access or use then cryptocurrency is definitely worth considering.

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