Cryptocurrencies have dramatically increased in popularity over the last decade with everyone from finance professionals to students to grandparents deciding to make an investment. However, there are still a lot of people who are concerned about investing in cryptocurrencies, likely due to them not really understanding how they work. If you are interested in making an investment but aren’t sure whether 2021 is the right time to get started, keep reading. We’re going to explain why cryptocurrency is definitely worth the investment in 2021.
1. No Need to Rely on Banks while investing in cryptocurrency
The first cryptocurrency – Bitcoin – was released a little over a decade ago. Like all new currencies, it’s decentralized, which means it’s not controlled by a single authority. There are now over 5000 different cryptocurrencies on the market, which follow the same model. This has made a staggering difference to the financial system as we know it. Cryptocurrencies give the user full control over their finances without needing to rely on banks. They’re not a trend – they’re something that’s here to stay for the long term.
2. It’s Highly Accessible
It is believed that, as of 2020, there are over 50 million crypto wallets in existence. And this number is not really surprising. Purchasing cryptocurrencies has never been easier, and as mentioned in the introduction. It’s something that anyone can do no matter what their career or background. Platforms like Paxful make it simple to buy Tether, Bitcoin, and other cryptocurrencies with ease. You can buy USDT on Paxful using bank transfers, gift cards, and more, and selling is just as easy. Lots of platforms are available for beginner traders that teach them the ropes and help them get started.
3. You Can Still Make Great Returns while investing in cryptocurrency
Almost everyone has heard of the Bitcoin millionaires – those who invested in the currency during its early days and pretty much became millionaires overnight. While it’s unlikely we’ll see anything quite so impressive in the future, it’s still possible to make great returns on your investment. Plus, the potential returns that you can receive are likely to be higher than other investment types, such as stocks. It is worth devising an effective risk strategy before investing. But if your plan is to buy with the aim of achieving a profit, however.
4. It Weathers Uncertainty Well
Most currencies experience drops and climbs during real-world events, such as elections and government decisions like Brexit, and it can be hard for even experts to know what the markets will look like during these times. However, cryptocurrencies seem to be immune to things like this. Even the recent Covid-19 pandemic hasn’t had a negative effect on cryptos – Bitcoin, for example, is thriving and currently costs around $15,000. With the drama surrounding the US presidential election not that far in the past, Brexit looming for the UK, and Covid-19 still not showing any signs of slowing down, cryptocurrency is a good choice of investment over other currencies.
If you have been considering investing in cryptocurrency, we believe it’s definitely a safe and worthwhile investment for 2021.