Why Cryptocurrency is the Future
In today’s day in age, we’ve experienced technological advances that we never thought were possible. This influx of innovative possibilities has come with its downsides but, a lot of it has propelled us forward in the way we now approach certain things. Money is something we never thought we’d change, however, cryptocurrency is revolutionizing our traditional ideas of currency exchange.
To simply put it, cryptocurrency uses digital files that act like money. It can be used to trade in and cash out physical currency, acting similar to stocks. There is a wide variety of cryptocurrencies that range in their market value. Many people see crypto as a negative thing and claim it can cause a downfall to the economy as we know it, though there is a vast majority of others who think otherwise.
Recently, we hosted cryptocurrency advocate Halle Eavelyn on Entrepods who provided insights as to the benefits of cryptocurrency and its various uses. “We went from bitcoin is the antichrist to we are buying bitcoin” States Eavelyn, and it appears as if the younger generation is making this become a reality.
“It’s here to stay, the question is do you believe that?” - Halle Eavelyn
A ‘safer’ but often less profitable would be pursuing the traditional route and investing in stocks. This is why many people enjoy the option of crypto, it can become highly lucrative in its return even if it can be considered slightly riskier. Eavelyn believes that pursuing the option of cryptocurrency can help you long term. “If you don’t believe it’s possible then it’s not going to happen, at least not for you.”
Benefits of Cryptocurrency
“You getting behind the idea of crypto now means you’re opening to the possibility that you could make money from crypto”
There are many benefits to cryptocurrency in contrast to stocks or real estate. Each option comes with its unique sets of pros and cons and it’s ultimately up to you to decide where you want to build your investment portfolio and the risks involved.
Diversification of portfolio
International transactions and trade
The market is available 24/7
Understanding cryptocurrency and how it works will be vital to your success in the industry. Cryptocurrency investing comes with its risks but can be easier to comprehend and get started than other investing strategies. Depending on the platform you use, you could have a “start-up” fee of only $20. This will typically put beginners at ease and get the flow of the market more steadily.
“It's an opportunity and if you open to the idea of an opportunity instead of saying oh this is another way someone can steal my money… instead crypto is money for the people by the people.”
Cryptocurrency value has fluctuated over the years and it’s hard for anyone to truly predict the rise and fall of this constantly changing market. Determining what cryptocurrency to buy, how it works, the pits and successes, and much more will help you become a successful investor.