Is Cryptocurrency a Good Investment?

Is Cryptocurrency a Good Investment?

Cryptocurrency
October 15, 2021 by Editor's Desk
608
As the cryptocurrency market starts to boom again, it is a good time to ask this question again, if cryptocurrency is a good investment. According to the latest trends, experts believes that crypto will soon touch a high like never before and make the early investors and long time HODlers extremely rich.  However, this makes
Is Cryptocurrency a Good Investment

As the cryptocurrency market starts to boom again, it is a good time to ask this question again, if cryptocurrency is a good investment. According to the latest trends, experts believes that crypto will soon touch a high like never before and make the early investors and long time HODlers extremely rich. 

However, this makes us wonder if it’s too late to invest in cryptocurrencies and is it a safe investment for small scale or large scale investors. The short answer? Yes, it is safe to invest in cryptocurrency and now is the perfect time to dive deep into cryptocurrencies. However, there are several factors an investor must consider before taking the plunge as unawareness can quickly shift profit into losses. 

Is cryptocurrency safe?

The burning question about the safety of cryptocurrencies has been asked over and over since their inception. While there is no direct yes or no answer, cryptocurrencies are safe if the investor understands the market. However, to an uneducated eye, the cryptocurrency world can be a challenging space without the right platform and the right cryptocurrency. 

Cryptocurrencies are bought using cryptocurrency exchanges. However, some low-tier cryptocurrency exchanges are prone to hacks and cyberattacks. These security breaches have caused investors to lose millions of dollars in the past. However, popular exchanges such as Coinbase and Binance make it easier and safer for new investors.

With the development of blockchain technology, cryptocurrencies have become safer and a better investment opportunity than they were in the past. Seeing the latest trends and technological advancements, cryptocurrencies are safer than ever. 

Cryptocurrencies are an excellent tool for investors looking to make a quick buck as well as long term investors. There are several cryptocurrencies that are expected to explode in 2021. Let’s take a closer look at the two most popular cryptocurrencies as an investment opportunity. 

 

Bitcoin as an Investment

Bitcoin is the most popular cryptocurrency and the highest-grossing as of this moment, soaring at the price of $58,8000. Recently, Bitcoin dropped significantly and only started rising since last month. But following the latest trends, experts believe Bitcoin will soon reach a high like never before, making the present the best time to invest. 

Bitcoin is a suitable long term investment as it is also the most volatile cryptocurrency in the market. Bitcoin is available at most crypto exchanges with a daily trading volume of over $39 Billion. 

 

Ethereum as an Investment

Ethereum is the second-largest cryptocurrency, currently soaring at the price of $3,728. However, what makes Ethereum popular is its blockchain developer capabilities that are utilized by several blockchain projects. Moreover, Ethereum is a relatively stable cryptocurrency than Bitcoin and makes a great long-term investment opportunity for small scale investors. 

 

Penny Cryptocurrencies

Penny cryptocurrencies are cryptocurrencies that have a price lower than $1. These cryptocurrencies, such as Ripple and Stellar Lumens, are safer to invest in as they are not volatile and will steadily grow. Check out this list of top penny cryptocurrencies in 2020

In conclusion, cryptocurrencies are undoubtedly a good investment. However, to ensure a steady profit stream, it is advisable to stay cautious while being curious.