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Cryptocurrency has seemed to be having its moment in 2021; with the success of cryptos such as bitcoin, more and more people have begun to invest in cryptocurrencies hoping to one day make a big return on their investment. And who could blame you? If you were to invest one thousand dollars in bitcoin in 2014, you would have seen a return of over one hundred thousand by the year 2021. It has seen a price increase by nearly 90% this year alone.
Some people may still be feeling a little trepidation when it comes to cryptocurrencies and buying on cryptocurrency exchanges singapore, which ones to choose and how to invest in them. With so many differences in opinion and a huge amount of cryptos to choose from, it may be tricky to tell if it's a smart investment. Even choosing which cryptocurrency exchange to use can be daunting. Just try determining Binance vs coinspot as an example. Although both platforms are celebrated for their security, there are some key differences that can make choosing which one to use a complicated matter. For now though, here we're going to discuss why now might be the perfect time for you to pull the band-aid off and start making your crypto fortune!
Given the fluctuating nature of cryptos, its future may be a little unsure; however, given the success of the aforementioned crypto - this year especially - it seems it won't be going away anytime soon. In fact, it is starting to look like it may be the next big thing. For one, physical cash is already on the decline in use, and most people use contactless now. Many merchants and vendors have started accepting cryptocurrency as an alternative form of payment. This is big for cryptos as they gain more respect and a foothold in day-to-day life. Investing now, getting in on the ground floor before they're in full prominence, may see your investment increase tenfold once it is a commonplace.
While you may see some success in the short term, much of the successes of crypto investors have seen it in the long term. Bitcoin itself is referred to by many investors as 'digital-gold' because of how few and how hard it is to get your hands on them.
Because the supply is fixed and finite, crypto investors believe that they will appreciate in value over the long term. This is why so many new cryptos pop up every day. The more exposure a crypto gets, the more people want to and begin to invest, which means the more scarce they become. So if you wanna see the biggest return for the smallest investment, then it's a great idea to get in early and be patient.
Furthermore, the world and thus the market is becoming more global, which means exchange rates and regional currencies are beginning to seem quite an archaic way to conduct business. Cryptocurrencies are decentralized, which means they have the same value in the US they do in Japan. This means no exchange rates!
If this has piqued your interest, you're looking for a way to start getting into cryptocurrencies from the ground floor from a small team of early adopters, then consider joining My Blockchain Life.