4 Reasons Why You Should Start Cryptocurrency Investment
2017 is the year in which prices of bitocin and other cryptocurrencies have exploded. However, a common investor would like to think on whether there is really an upside potential in an investment in cryptocurrencies. In other words, is it still worth investing in digital currencies or is it too late?
The most important thing to remember is that bitcoin is not the only digital currency as an investment option. However, it’s also true that it’s Bitcoin which made these currencies popular and also more secure. There were a couple of safety issues a few years ago, but they are seemingly resolved. In short, bitcoins have helped the cryptocurrency field mature.
Here are a few reasons to consider why you should enter the cryptocurrency investment field.
1. Similarity to Investing in Commodities
According to experts at Crypto Investors Insider, investment in digital currencies is quite same as investing in commodities. The fact is that commodities have two aspects. One aspect is that they are assets that we can use in our real world and the other aspect is that they can be invested in through open market exchanges.
Just similar to this, cryptocurrencies too can be used in insurance and financial applications and you can invest in them.
Look at these aspects of cryptocurrencies of usage and added value and then choose a particular digital currency to invest in.
2. Usage of Digital Currencies is Growing
All digital currencies combined have a market share of more than $60Bn. This includes all existing digital currencies, such as bitcoin, litecoin, ethereum, ripple and several other smaller and unknown currencies.
Considering that the market cap of Telsa is $50Bn, that of Coca Cola is $108Bn and that of Boeing Airlines is $100Bn, you can see how the volume of real world transactions has increased along with the market cap indicating that ‘crypto is real’.
3. Cryptocurrencies are Unknown to Most People
Only 24% of US population knows about cryptocurrencies while only 2% of Americans actually use Bitcoin and 25% are thinking of using it in the future. For investors, this is exciting news.
4. Usage is Important
Based on the usage in the actual world it is important for investors to focus on demand and supply data. Studies have shown that cryptocurrencies like bitcoin and ethereum are being used in the real world.
Consider these things while starting to invest in cryptocurrencies, follow the proper guidance of experts like Crypto Investors Insider and make your investment successful.