Nowadays, more and more people decide to invest in cryptocurrency. Cryptocurrencies are very popular, and there are various reasons why this is happening. Starting from the social side, through a more secure investing system, till simplicity of investment in comparison to other goods, cryptos rule the investment world. Here are some of the reasons why so many people decide on investing in cryptocurrencies and why you should join them.
Crypto Users as a Part of a Group
People who invest in cryptocurrencies become a unique group of investors. They have their own jargon, filled with acronyms, and they gather at various conferences that attract thousands of participants.
One might even say that crypto investors became a particular culture in which some rules apply. This social side of cryptos is quite important for people who want to invest and belong to some group.
Social Media Influence
Anyone who knows the basics of marketing knows that social media, such as TikTok, Twitter, Instagram, etc., have a huge impact on what is in fashion and what people want to buy. Crypto is not an exception.
Celebrities and influencers who invest in crypto have a great influence on its popularity. There are even some people that are famous just for a good investment in cryptos.
Social media platforms can trigger particular behaviors. Because of the increased presence of crypto investors in social media channels, crypto became even more popular, creating a promise of an “Instagram-like” life.
Fear of Missing Out
The previous point leads to this one. Nowadays, people, especially those who are exposed to social media, want to keep up with all the news. This is why they get very involved in new technologies, especially those that promise high profits.
Platforms such as PayPal or Square are getting into cryptos, and predictions say that crypto’s price could peak at $200,000 within the next decade. All of this pushes people into the fear of missing out (FOMO).
Many viral stories that float in social media about people who made a fortune by investing in crypto additionally encourage people to do the same. Many of those stories are a modern version of shoe shiner to millionaires.
More Security for the Future
Many people, especially young ones, feel that they cannot invest in their future. If they don’t come from a rich family or didn’t gather a huge sum of capital before 30, they feel that there is no way for them to build a better future. Cryptos give a hope that a more prosperous future is possible, even with a low amount of starting investment.
Young people don’t have access to wealth that they could multiply by investment. This is why for most of them, crypto seems so appealing.
Low First Investment Threshold
Creating an investment is time-consuming and can be complicated. This is why some people cannot or don’t want to invest in bonds, stocks, gold, etc. Moreover, it requires quite a high sum to invest in the first place. While investing in real estate is appealing for many, it requires a very high entry threshold.
With crypto, you can start investing with even 100 bucks. Because of that, many people want and can invest in bitcoins. Even if they start with “nothing,” they can reach success.
Easiness of Trading
While most investments might be tiring, complicated, and require large amounts of knowledge, trading crypto is very straightforward. This is why so many people, even without an in-depth knowledge of the economy, can invest in crypto.
You need to find the right trading platform for cryptocurrencies. There is no need to deal with any institution, go through bureaucracy, visit banks, etc. You just create an account and track your asset. Most trading platforms work based on AI that allows you to accumulate some sums even if you are not a master of investment.
A Good Alternative
Blockchain technology is very promising and is a good alternative to more traditional investments. Crypto also seems to be a safer alternative in the case of a market crash. There are still some questions on how crypto is going to behave in the case of a crash, as it appeared after the crash in 2008, but some experts give a very good prognosis.
Any investment that you make has some amount of liquidity. That means how easy it is to sell or purchase the product at a price as it is on the market. When it comes to cryptocurrencies, they have very high liquidity. They can be quickly sold and bought.
The Money Belongs to You
In the case of investing in other goods, the level of independence is quite limited. For example, when you store money in a bank, you depend on the organization and people. In case of a crash or bankruptcy of the institution, you can lose everything. At any stage, your access to what is yours can be limited.
If you invest in crypto, you can be sure that your money belongs to you and is going to be with you forever. You don’t have to store them in a bank and be at the institution’s mercy. You also don’t have to pay any fee for managing your resources.
Crypto is considered a mile step to an open and decentralized economy that can thrive in the future.
You probably know that cryptos have been around for a pretty short time. Yet, they seem to be a very profitable investment. They can bring you a high return. To compare, one of the highest returns from the US stock is about 20%. In the case of crypto, you can notice a wide change in their prices in short periods. While it might be risky, it can also bring you a huge turnout.
Such a big potential for turnout cannot be found in any other asset. You might have heard that some people lose money in crypto trading. That happens mostly when they don’t have a specific strategy on how to manage their trading.