What exactly is this cryptocurrency, AKA-Bitcoin, everyone has been talking about? Can I get rich too? These are all great questions, as many have found themselves a whole new level of wealth, and often times even empty handed. You may be here as your uncle or friend just made thousands of dollars on their recent crypto purchase. In fact, you may even be in need of a quick buck, and in hope that this cryptocurrency will make you the new overnight millionaire. In today’s topic, I will be summarizing on why you should or should not invest in this blazing topic: cryptocurrency. Before I begin talking about the many reasons on why you should invest in cryptocurrency, I feel that I first need to explain the important reasons in when you shouldn’t.
1.) You should NOT invest if you do not understand what cryptocurrency is. Most likely you are here today as every other conversation is about the new all time highs for Bitcoin, Etherium, and Litecoin. You should NOT be investing into any cryptocurrency until you understand what blockchain technology is, what it does, and why would it be utilized in the future. Don’t just take the word from someone else, but do your own research before you invest! This cryptocurrency utilizing block chain technology is not just a “bubble”, but an unforgettable new technology that will spark the way of the modern world.
2.) You should NOT invest if you do not have financial freedom. The best advice I can give to anyone in the financial world is: DO NOT GO INTO DEBT. In fact this simple concept is often very distorted as our daily life is constantly advertising that credit is the form of free living. Unfortunately, in today’s society, it is very hard to get ahead leading to our last resort called the credit card. Therefore, I advise you to not consider any investment until your debt is fully paid off as you are not fully free, but a servant to your lender (Prov 22:7b). YOU SHOULD NEVER INVEST WHAT YOU ARE NOT WILLING TO LOSE. There are many strategies of going about investing into your cryptocurrency portfolio; as we will discuss this in future days.
3.) You should NOT invest if you are here to get rich quick. If so, you are already heading down a dangerous path. Props to the overnight millionaires, but there is a high chance this will not happen to you. If you are in need of money fast, you probably shouldn’t be putting your last resorts into the crypto market.
After summarizing the brief reasons on why you should not invest in crypto, here are some reasons on why you should!
1.) You SHOULD invest because cryptocurrency and blockchain technology is still in it’s baby years! One may ask, did I miss the train? The answer is NO! Cryptocurrency is often thought of as a bubble, but you need to realize that these currencies are not necessarily just fighting to become the new adapted currency; but will and have been utilizing this new form of blockchain technology into the modern world and all aspects of our daily life! Just consider that you may be investing into the new google, facebook, and amazon of today!
2.) You SHOULD invest because, when was the last time you saw a 1000% increase on your investment in 3 days? Cryptocurrency is a more risky investment; but this allows the returns to be quite remarkable. There are many strategies in how to design your portfolio, as many of these investments are very risky, but many are also on the safe side.
3.) You SHOULD invest into cryptocurrency and blockchain technology because it is designed for a world of decentralization! Decentralization is often thought as the shift of authority from central to a local government. In other words, decentralization is the transfer of departments of a big company away from a single administrative center to another. With cryptocurrency, you can now become your own independent bank!
Saying all this, welcome to the new age of digital currency. Always invest at your own risk. Now that you decided whether investing cryptocurrency is for you, here is our recommended list of exchanges for you to begin: http://thecryptoadvisor.net/2018/01/06/top-cryptocurrency-exchanges-of-2018/
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Disclaimer: Crypto currencies are a high risk, speculative market and subject extreme volatility, never invest more than you are willing to lose. None of the information found on this website should be taken as investment advice or council. We are not liable for any financial losses. Some links found on the website may be affiliate or referral links. Images obtained by google.com (images)