Investing in Crypto
About a year ago. I began investing in cryptocurrencies by opening an account on Coinbase. Since then I have continued to invest $100 per month in Bitcoin (BTC) and I have also accumulated small positions in several of the other cryptocurrencies available on Coinbase, including Bitcoin Cash (BCH), Etherium (ETH), Etherium Classic (ETC), Litecoin (LTC) and 0x (ZRX). Crypto represents a revolution in how payments are processed and how value is stored and transferred. It's a payment system and an investment - a completely new form of digital money. There is limited supply (the coins are "mined" online by solving a computationally difficult puzzle). The reward to miners for solving the puzzles is to receive a small amount of coins and the mining also serves to validate prior transactions in the "blockchain." This requires a great deal of computing power and time and it is therefore not "easy" to mine crypto coins. Cryptocurrencies are the first practical use of Blockchain, a distributed ledger system that promises to change the way we transact and account for ownership of all things, including cars, real estate, good and services. The list is potentially endless. Here are some reasons why you should invest in crypto:
Diversification - cryptocurrencies have evolved to the point where they are a legitimate alternative investment and a small portion - I'm recommending 0.5% to 1% of your investment portfolio - should be allocated to crypto Alternative Payment Method - crypto can be used to make online payments instead of using fiat currency, debit or credit cards and other forms of paymentsInvestment - Potential returns for crypto can be very large as their adoption and use become more mainstream and demand grows; although down significantly from its peak value, we have already seen Bitcoin increase almost 50x since it was first introduced.FOMO - No one wants to miss out on the next big thing and this could be it; many things will change as crypto continues to evolve and this is definitely the early stages, but given it's popularity as an investment, a form of currency and payment system it is not likely going away.
As mentioned earlier, I've been using Coinbase which makes it really easy and safe to buy, sell, and store digital currency (like Bitcoin). I got us $10 each of free Bitcoin when you sign up with my invite link and buy or sell at least $100 of digital currency:
https://www.coinbase.com/join/5a376c38a55f30013c465899?src=ios-share
Published on November 04, 2018 21:59
No comments have been added yet.


