Cryptocurrency. It is on the rise, and investing in cryptocurrency has made some people serious money.
Recently, Ethereum hit its all-time high value of $4,400. In 2020, you could have probably bought this crypto for under $1,000, so it has gone up quickly.
With this in mind, is now the right time to get into crypto investments? Here are six reasons why buying crypto is a good idea.
1. International Currency
One of the biggest benefits of cryptocurrency is that it can be used all over the world. While some stronger paper currencies are accepted in many places, there are not many that hold international value.
Well, crypto changes that, and it makes transactions between someone from say the US and Japan a lot easier. The bigger crypto coins are accepted on any platform that trades them, which can be all over the world.
2. De-Centralized Money
The second benefit of crypto is that it is a completely digital currency that is currently de-centralized by any government or any bank.
What does this mean? It means that there is no big power regulating it at the moment and no government or world reserve has a strong influence over how it gets distributed to other people.
3. Rising Value
Crypto is getting more and more valuable by the day. The above link mentions that Ethereum just recently hit its all-time value and bitcoin did so the week prior.
At one point, you could buy bitcoin for under $100 and you could buy Ethereum for even less. At over $60,000 per coin now, that is unimaginable for bitcoin and those that got in early and held onto their coins have become rich.
Many believe that these coins are not done rising in value, so imagine if you had the opportunity to make even 10x your investment?
4. Crypto Card Benefits
With the rise in crypto, comes the rise of payment options centering around crypto. Crypto credit and debit cards are no different, as some are designed with a specific perk around getting a percentage of bitcoin as a “cash back” option depending on how much you spend on the card.
You can read crypto rewards card reviews to find out what card is best for you there.
5. More Companies Accepting Crypto
More mainstream companies are starting to accept crypto as a legitimate form of payment. This includes companies like AT&T, Paypal, Starbucks, Whole Foods, and even NBA teams like the Dallas Mavericks and Sacramento Kings.
The more places that recognize crypto as a form of payment, the more excuses you would have to hang onto it, recognize it as a legitimate currency, and use it for your own purchases.
6. Easier Exchanges
When bitcoin and other crypto were first available, there were very few resources to buy the crypto. Now, it is a lot more mainstream, with options such as Coinbase and Paypal opening up, plus more public advertising of crypto exchanges such as FTX’s partnership with MLB.
Start Investing in Cryptocurrency
With the above reasons, there is no excuse to not be investing in cryptocurrency today. As long as you do not put in what you cannot afford to lose, you could see some good results in the long-term with where things are going.
For more related information, check out our other Cryptocurrency Guides.