It’s been long enough for all of you to know that Cryptocurrencies have become widely used and are now viewed as a financial stronghold. Through the last year, even JPMORGAN, an ardent skeptic has created and put in using their version of cryptocurrency. Let’s get some bases in and understand what makes invest now a good option.
A little reminder of what this is really
Cryptocurrency is digital money. That means there is no physical coin or bill, it’s all online. You can transfer cryptocurrency to someone online without a go-between, like a bank. Bitcoin and Ether are well-known cryptocurrencies, but new cryptocurrencies continue to be created.
People might use cryptocurrencies for quick payments and to avoid transaction fees. Some might get cryptocurrencies as an investment, hoping the value goes up. You can buy cryptocurrency with a credit card or, in some cases, get it through a process called “mining.” Cryptocurrency is stored in a digital wallet, either online, on your computer, or other hardware.
Investing is a move for the future
As with any investment, do your due diligence and don’t pin all your hopes on one company or one cryptocurrency: spread your money around so you spread the risk and only invest what you can afford to lose. Coinbase and Binance are two of the world’s largest bitcoin trading platforms. They are presented as an easy and fast way for new users to purchase various cryptocurrencies such as bitcoin. Other ways to buy include the digital currency app Ziglu and on the investment platform eToro. Gemini, founded by the Winklevoss brothers (of Facebook fame), is a digital exchange that allows customers to buy, sell and store cryptocurrencies.
All this has made access to the market very easy for you and me. Simplicity in trading was the first step, but this was just the beginning.
Paying your daily coffee, but with crypto
That being said the next step was obviously the common access to using your investments. Mark Hipperson, chief executive of the Crypto platform Ziglu, argues the case for digital coins going mainstream. “With more and more big brands such as Tesla and Starbucks accepting crypto, Starbucks is testing a way to let users of its mobile app pay for coffee and food with the cryptocurrency Bakkt Cash. there now seems to be little doubt that one day soon crypto will be accepted at as many places as traditional currencies.”
And the list is long, Microsoft has been accepting Bitcoin for use in its online Xbox Store since 2014. The majority of the Online casino market accepts e-wallets. The online platform Twitch accepts cryptocurrencies for multiple situations. Overstock is currently leading the way in the shopping field with cryptocurrency…
The biggest fears that were put forward a few years back are now completely obsolete. More and more former skeptics are now converting to being pro-crypto. And they are backed with more and more brands accepting these currencies as valid as wanted payment methods.
How many signs do you need to take the leap?