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What is it, in scientific terms, that makes something believable? Human beings believe things for two main reasons. 1) They believe the evidence, the proof, or facts presented to them and 2) others they trust from experience believe it too and act in a way that shows this. In this article we will discuss the reasons why we can believe that cryptocurrency is worth investing in, and which trusted persons are already among those who believe it is the future.
1. Cryptocurrency is liquid
In fact, it is arguably the most liquid investment asset of all time, since the beginning of trading platforms anyway. It can be converted simply and easily into cash with very little impact on its worth. It’s like cash in your pocket, only safer. You can buy it, sell it, and store it, without the risk or weaknesses of the modern banking system as we know it.
2. Cryptocurrency is decentralised
There is no headquarters, no regulatory body calling shots, and no one country where it comes from. It is an impartial and global form of currency. This means not only is it easily transferred into cash as mentioned above, but that it can also be used to facilitate transactions between countries, eliminating the usual astronomical fees. This alone could totally overhaul the banking and financial service industry.
3. Blockchain technology
Described as a ‘transformational’ technology, this kind of system means information can be recorded and stored in such a way that it cannot be altered. This means it is near impossible to hack. Cryptocurrency is largely underlined by blockchain technology, and by nature, this cuts out the risks associated with middlemen and unlocks yet more possibilities in the economic sphere, changing the game as we know it.
4. It’s untouchable
The lack of middlemen plus the open source and decentralisation of the currency means the owner of the funds is in sole control. It’s your money, used by you, however way you wish. It isn’t borrowed and it isn’t lended. This means greater independence for all who partake. Access belongs to the consumer.
The nature of cryptographic currency, named for its use of encryptions, means it cannot ever be confiscated by the government. What is more, your cryptographic coin value cannot ever be weakened by inflation – this is because they are in limited supply and always will be. Most currencies of this kind are ‘mined’ by means of an algorithm and the mining is capped in order for the goods to remain in limited supply. There will only ever be so much of them to get at. The rarity increases its value, driving up the price. In other words, it is digital gold.
Those of us with an apocalyptic mindset are therefore especially enticed by this kind of investing, as the value will not alter in case of disastrous scenarios or ‘acts of God’. Bank closures and hyperinflation cannot and will not touch it. It’s the digital equivalent to keeping a suitcase of gold under your bed.
5. It’s about to change everything
Analytic evidence suggests that investing in cryptocurrency could be akin to going back in time and investing in a company like Apple or Amazon before they went on to dominate the globe. If you had invested just $2,500 in Amazon.com in 1997, your investment would be worth a cool 2 million today.
Consider Bitcoin, arguably the best-known form of cryptocurrency. When Bitcoin was introduced in 2009, one Bitcoin was worth just small fractions of a dollar. It is now worth around 35 thousand dollars per coin. Bitcoin is not the only cryptocurrency to shatter records in 2021, Ethereum and Dogecoin skyrocketed an enormous 435% and 7,800% respectively. Some in-the-know have hinted that Bitcoin may realistically continue to increase in value up to 100 thousand dollars, and others (according to a leaked report from Citibank) estimate it’s growth at over 300 thousand dollars by the end of this year. All this has caused an increasing number of business customers to jump on board, to get in before it gets big, to make sure they benefit from this groundbreaking investment opportunity. Are you a believer yet?
As innovative as it may be, cryptocurrency is not yet accepted by the masses. This is a good thing. Various types are still currently affordable to the average Joe, and as more and more businesses and merchants accept cryptocurrency as a legitimate form of payment, things will snowball, impacting society and changing the way things are done. You have the chance to get in now, on the ground floor, to invest, before things grow exponentially.
Final Thoughts
Cryptocurrency investments are the next sure thing is the school of thought that many share who believe in the future of the technological world. As sure at least, as the internet was back in the 1990s, and with potential to have just as great of an impact. Do you believe in the future of technology? Then you may as well believe in cryptocurrency.
For these reasons even the most traditional minded of investors have been converted, those not yet on board now considered somewhat old-fashioned.
Ask yourself, is it ever a good thing to be behind the times? Soon there will come a day when everyone in the world will either already have or want to have some form of investment in cryptocurrency. If you currently own an investment portfolio, however small, you can easily add cryptocurrency into it, putting more eggs in more baskets, diversifying those eggs, for sure success. This is the trend of many traditional businesses, not only integrating cryptocurrency in various ways but also using it to launch products, proving cryptocurrency is no longer just for the nerdy among us.
Do you trust and respect the world-renowned company, PayPal? As of October 2020, it became possible for those holding a PayPal account to buy products with cryptocurrency at some 26 million merchants. Account holders also have the freedom to buy, sell, or store cryptocurrency. Dan Schulman, CEO and president of PayPal has been quoted as saying that he believes this shift to digital currency is inevitable because of the many advantages, including efficiency and speed. As we can see, he has put his money where his mouth is.
You’ve seen the evidence, the trends and patterns of cryptocurrency. You’ve pondered the compelling reasons why cryptocurrency is superior to other forms of banking. You’ve watched trusted and experienced experts as they let their actions speak. You have every reason to believe that cryptocurrency is a great investment, today, and tomorrow.