Crypto is Like Stocks
With 2020-2021 there was a surge of people getting into crypto. But not for the same motives as other crypto investors. They were in it to get the hyped coins, just like the AMC and GME. There were three coins that stuck out because everyone was trying to join in (FOMO). Dogecoin was the first meme coin and got a lot of attention with its appealing price. Then it was Shiba Inu, lastly Solana. Based on recent cryptocurrency news it’s surprising that there are still many who don’t want to invest. Some would say they aren’t so sure about crypto and see it as a high risk investment. But I would argue it’s the opposite and this article is written from my personal insights, hoping it would open your perspective on crypto. Keep in mind this isn’t financial advice and only for educational purposes only.
First: Cryptocurrency has more pros than cons
Yes, people argue that it could be used for black market and how it gets its value determined. Well, similar to a stock, the price is determined by revenue and performance. But there are some other aspects such as what the coin is intended for. For example, Ethereum is used for a network that helps run financial tools and games. Think of it as a wifi router giving you access to the internet. Another example, Bitcoin is used to let people send money without a third party such as Venmo or Paypal asking banks to send money. And crypto currency is decentralized meaning no one can govern how it works or change the value. Which makes it inflation proof and no one can change the network. Yes it’s powerful and could be used for the wrong, but that’s the same with money. They're similar and it all depends on what the person intends to use it for.
Second: Lots of attention and revolution
Companies are starting to notice its potential and incorporated cryptocurrencies as payment or storing in their platform. Take for example: Venmo, Paypal, Visa, Mastercard, Pepsi, and many more! Take a look at teams being sponsored by Crypto.com, they also have a stadium. Wherever you look, cryptocurrency is slowly adapting whether you like it or not. Now we’re learning more about NFTs with its recent news and popularity.
Third: The risk isn’t higher than others
Look at the stock market, trading cards, cars, housing, wine, etc. Everything you buy has a risk of that value dropping and could be zero the next day. Yes it’s risky when you don’t understand it, however look at everything you bought. There was a time when you didn’t know if it was worth it or not. The only thing driving you to purchase it was trust and time helping it flourish.
I’m not sponsored and don’t intend to sound biased. And I’m no expert in crypto, I’m just a guy that was curious about it. Which led to me investing into crypto and wanting others to hear about crypto. Only put money you're willing to lose or forget about. That’s with any investment you make.
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