Today, financial markets have expanded, and new investment opportunities are coming every hour. Investors with multiple ventures under their belt have a wide range of options to choose from.
But there is one investment that you should prefer and that is cryptocurrency.
Cryptocurrency has shown the potential of changing the existing financial system in the past few years with its massive potential. Investors around the world are putting money into cryptocurrencies because of their amazing benefits and versatile characteristics.
Let us find out why you should consider cryptocurrency a top investment in 2023.
What is Cryptocurrency?
Launched in 2009 with the introduction of Bitcoin as the world’s first-generation cryptocurrency, people around the world were unaccustomed to the concept of using a digital currency that is online. They were familiar with bank transactions and used Fiat or traditional currency for daily usage.
Within a few years, cryptocurrency has proved its potential and become one of the leading assets for investment. Today, Bitcoin has become the world’s largest cryptocurrency by market capitalization, thanks to its amazing features and profitability.
The concept of using a virtual currency that is free from the intervention of a bank or any financial institution has appealed to many investors worldwide. Cryptocurrency is not limited to Bitcoin as there are over 10,000 digital currencies available for investment.
In simple words, you can say that a cryptocurrency is a digital or virtual currency that is supported by blockchain technology. It is protected by cryptography which consists of complex mathematical problems that are hard to break and comprehensively increases the safety of the entire blockchain.
Many global leaders and celebrities have come forward in the support of cryptocurrency and labelled it as the best alternative to Fiat. One such global leader is Carl Runefelt or popularly known as The Moon among its millions of supporters, who is pushing for the mass adoption of cryptocurrency.
He says, “The price of Bitcoin will likely break above $45,000 at some point. When we do break above $45k, that is when I am going to go massively bullish, and that is when I think we will see a huge breakout, and that is what I am going to put in a multi-million-dollar long position.”
Why Should You Invest in Cryptocurrency?
Cryptocurrency is relatively a new currency as compared to traditional currencies that are used in different countries. Cryptocurrencies are still lacking behind Fiat in terms of adoption because understanding them is not an easy process.
But you can see that cryptocurrency has created many millionaires or even billionaires during the last decade. This might be a wild claim, but it is a reality.
As 2023 is about to begin, you should prioritize investing in cryptocurrency to increase your wealth comprehensively.
Listed below are some of the amazing reasons why you should invest in cryptocurrency.
Rising prices of commodities are a challenge that you face each day whenever you visit the market. Inflation decreases your wealth by reducing your purchasing power and financial experts have still failed to find a permanent solution to it.
Cryptocurrency, on the other hand, has been designed to offer an inflation hedge to its users. Cryptocurrencies including Bitcoin come with a limited supply that effectively increases your purchasing power.
So, why you should not consider an asset that can protect you from inflation in the coming years?
Gove it a thought!
As an investor, you would always want to buy an asset that can offer you incredible returns. But things are quite difficult in the existing financial system because earning quick money is becoming difficult with traditional assets.
Carl, on his YouTube channel, The Moon, says, “I think Bitcoin has done incredibly well in the past year. You can see just a little bit more than a year ago Bitcoin was trading down at $3,000. Now, it’s more than ten times higher. So, I’m happy about those per that performance just compared to gold. Gold has nearly done nothing in that same period. So, I would already say that Bitcoin is performing much better than any asset out there while still taking low risk.”
Cryptocurrency holds the huge potential of incredible returns for its investors. The value of many cryptocurrencies has increased remarkably in the past few years and crypto investors have made fortunes of wealth with it.
You should never miss an opportunity of investing a dollar with the probability of earning a lot of money in future.
You can tell from your experience so far with the traditional banking system that you often receive fake calls from scammers who are always ready to hack your account. And if you share your information with them, they can easily hack your bank account.
But safe vault crypto is designed in other ways! The blockchain is protected by cryptography which makes it extremely difficult for any scammer to hack the entire blockchain in one go. In addition, when you are making a crypto transaction, your name never appears on the blockchain but only digits representing your transaction.
So, instead of losing money to a scammer, you should start using cryptocurrency to secure your wealth.
If you are still thinking about the volatility of cryptocurrency, you should know that you can earn a lot when the crypto market is bullish.
Cryptocurrency has become one of the most liked assets for investment in the past few years and you should also start your crypto profile without wasting time.