Is it Profitable to Invest in Cryptocurrency Now?
4 минутыIt’s been several years that cryptocurrency has invaded the financial
world. Some say cryptocurrency will eventually replace current fiat
money, others believe it’s just a good investment. The thing that
attracts people to cryptocurrency is decentralization. Digital money is
governed by decentralized entities and can't be controlled by the
government.
It also offers some advantages and is without a doubt an
interesting option to invest in. Moreover, there are more than 500
digital items to invest in. In fact, there are a lot more types of
digital coins out there, but not all of them are valuable. But is it
still a good idea to invest in digital money? Let’s check out the top 5
investments in digital money and what advantages they can offer.
Bitcoin
It's
an obvious choice for most investors. It's the first cryptocurrency to
see the world, its price is high and it is not affected by inflation,
it's popular and most used. There are several advantages to investing in
Bitcoin. The advantages are listed as follows:
● The autonomy of transactions.
● Peer-to-peer focus.
● High price.
● Secured transactions.
● No banking fees.
● Low transfer costs (especially when it comes to international transfers).
● The accessibility from any point.
Even
though Bitcoin (as all other digital currencies) has suffered from a
major crash of the market, it seems to be regaining ground. Bitcoin has
recovered from the losses and now is at the same cost as it was before
the crash which makes Bitcoin a great idea to invest in.
Litecoin
It's
another great option to consider if you are planning to invest in
digital coins. Litecoin's (LTC) price is at 129.35 (28/12/2020), and it
seems that the currency is showing great results.
Only a month ago
the cost of LTC was almost half of the current price, moreover, in
October it was one of the largest digital items. And just a month later
it has become the eighth biggest cryptocurrency in the world, so it
makes sense to try and figure out whether it is worth investing in it.
The advantages of LTC are as follows:
● Offers a big block reward.
● Fast to mine (just two minutes per block).
● Keeps growing and developing.
So,
if you are considering investing in digital items, LTC might be an
extremely good idea. It shows significant growth over time, it is
popular among users and the increased demand might affect the prices of
the coin in the future. These factors make it a good idea to consider.
Ethereum
Bitcoin
and Ethereum are the 2 most popular currencies. Ethereum (ETH) has a
very strong market cap and is considered to be the second strongest
cryptocurrency after Bitcoin. The price of Ethereum currently is $724.85
(28/12/2020) which is impressive especially considering that the costs
significantly grew over time.
The increase in the price of buying ETH
could be explained by the recognition that Ethereum has, the
decentralized finance system that governs the chain, and by the
successful upgrade to Ethereum 2.0.
The advantages of ETH are as follows:
● Recognition of the coin (the second token after Bitcoin),
● One of the most liquid cryptocurrencies in the world.
● Ethereum blockchain supports smart contracts.
● Offers decentralized mobile applications.
So,
ETH is a good investment in 2021. Ethereum blockchain is one of the
most developed systems that offer multiple useful options. It has become
the basis for other digital tokens so the demand for ETH might be
increasing even more overtime.
Conclusion
Any investment is a
risk but sometimes it could be a very good deal. Digital tokens show
great progress and stability. Even after some major crashes of the
market, cryptocurrency is still capable of recovering and gaining
ground.
Другие новости
Больше новостей- 23 сент. 2024 г. ∙ Новости компании
- 1 мар. 2024 г. ∙ Биткоин
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