Most people you talk to about cryptocurrencies today believe there’s no more opportunity left; according to them, the ship already left the harbor, without them. There may well be an inkling of truth in that, but there are still more opportunities lying ahead. The dust hasn’t yet settled on this evolving money revolution.
Success… and Not so Successful Stories
If you are hearing about Bitcoin for the first time, simple Google “Bitcoin Success stories” and read about a man who spent $3000 in October 2010 to buy 20,000 at $0.15 each. Come 2013 and Bitcoin made headlines, and the price was $350 (2000 times more than he had spent). He sold 2000 Bitcoin at that price and later sold 2000 more when the price hit $800 to make $2.3 million. He later made many other sell-offs to eventually make $25 million from the initial investment of $3,000.
However, every story has two sides. There are also many stories about personal Bitcoin disasters. Read the story of 32-year-old James Howell who accidentally discarded his hard drive with 7,500 Bitcoins; that would be worth $56 million today. Read about Lily Allen turned down a payment of 100,000 Bitcoins for a streaming performance gig on the game second life.
Young Lucrative Digital Asset
Whether to invest in Bitcoin in 2019 is a hot topic; all the noise surrounding cryptocurrencies could easily cloud your judgment on whether to try this lucrative digital asset. Being such a young asset, the market is volatile, filled with stories of extreme success or a massive failure. The issue at hand, therefore, is about making an educated decision based on timing, probability and whether the investment profile fits you.
Plunge in Now!
Bitcoin’s and other cryptocurrency fluctuations have been on the headlines recently and there are many discussions on whether investing in them is worth the ink it’s written on in 2019. Bitcoin is trading at $6104.00 USD at the time of writing amid speculation the bulls are finally here. Here, we reveal at least five reasons you should dive into the world of cryptocurrency investment in 2019.
1. Better Cryptocurrency Regulations
The unprecedented rise on cryptocurrency has seen the introduction of regulations that are taking shape. Introducing regulations reduces uncertainty to give a significant boost to trading activities and coin prices.
Tighter regulations are helping to tackle crypto scams that hitherto reduced investment desirability; new coins and investments have certain criteria to adhere to. The presence of regulations has helped to calm the fears of potential investors and offering a better foundation for future investments.
2. Widespread Blockchain Adoption
There are over 1600 cryptocurrencies but most media attention has focused on Bitcoin, the first and most successful digital asset so far. Bitcoin’s underlying technology, blockchain, is growing from strength to strength and news about the Distributed Ledger Technology offers more exciting reading than the daily coin fluctuations.
Thousands of global organizations are investing time and resources into blockchain and cryptocurrency research and studying how to introduce cryptocurrency into their already successful businesses. This only works to further cement the trending opinion that blockchain and cryptocurrencies are becoming an integral part of a future global business.
3. The Simplest Form of Investment
Thinking about cryptocurrency investment for the first time may look like such a daunting prospect, especially in the absence of investment advice. The good news is that times have changed now and there is more information than you might consume and there are fewer entry barriers than before.
For instance, Coinbase, the leading digital wallet, has over 10 million investors who can buy Bitcoin, Ethereum, Litecoin and Bitcoin Cash at the snap of a finger. There are many market investment funds that give potential investors easy access to different cryptocurrencies. There has never been a time when investing in cryptocurrencies was so straightforward for anyone who didn’t know where to start.
4. Availability of Lucrative Alternatives
Bitcoin has definitely dominated the cryptocurrency market for about a decade now and it’s probably why it’s the most recognized digital asset. However, while perhaps the time to invest and reap large from Bitcoin could be slowly passing (those who invested earlier reaped mouthwatering returns), it doesn’t mean it is the only or best crypto investment opportunity today.
Today’s crypto investor can expand their horizon and reap equally big returns by expanding their horizon to other emerging alt-coins like Ethereum or Litecoin, two coins showing great potential. If you will make any investment, take note that any kind of investment is a risky venture and, as a rule of the thumb, you can only invest the amount of money you prepared to lose. The road to crypto investment has an amount of risk and should, therefore, form a wider part of a varied investment portfolio.
5. Cryptocurrencies Showing a Promising Future
The best way to make an investment is to focus on its long-term viability. Investors who become obsessed with a project’s short-term analysis and small price variations end up making wrong investment decisions. You don’t want to panic and dispose of your investment at lower prices when you should have held on longer until the prices recover.
The cryptocurrency market is still volatile and price fluctuations will continue, with some experiencing more than others. Bitcoin’s price plummeted from $20,000 in December 2017 to about $3,000 a year later and has recently bounced to about $6,000 in May 2019 with predictions of ongoing price surges. Always look at the medium to long-term prospects of a coin; true gains are likely to be made in another 1, 5 or 10 more years.
Become a Party of the Future
Blockchain technology may be the backbone of cryptocurrencies but there is much more to the technology than digital assets. The blockchain is revolutionizing every other industry from accounting, supply chain management, insurance, baking, and healthcare, voting systems, medicine, production lines and many others behind the scenes.
By investing in cryptocurrencies today you become part of the technology with the potential to transform the world as we have known it for better. By joining cryptoshpere you are playing a role in adding the continuing development of this innovative and disruptive technology which will benefit generations.