Before you invest in digital currencies, you need to have strong knowledge of finances and how online transactions work. The only difference between cryptocurrencies and fiat money is that the first type is digital, and the second type is real and physical. But, we all know that many people receive their salary on credit and debit cards and use them for online transactions and POS paying, without withdrawing cash from an ATM.
In recent years, we can see how Bitcoins and all the other cryptocurrencies grow their popularity. People more often use them to shop online or to make payments for a finished job. These currencies are still illegal in many countries around the world, but those who embraced it can confirm that they are valuable and can be used for every type of online transaction. Many people decide to invest in crypto money because their value can reach really high values. This job is pretty risky because the situation is not stable, but many of the investors had already made a great profit.
Before you invest in Bitcoins or other digital money, you need to educate yourself on your country’s laws and policies and learn if you can use the money or convert them in real cash, so you won’t spend your precious time and energy on nothing.
If everything is good, here are a few reasons why to choose cryptocurrency investment in 2020:
1. You can’t be easily robbed
The digital money you get is always yours. Once you put them in your e-wallet, you can be sure that no one can access them, and they stay yours until you decide to spend them on something. On the other side, banks can be robbed, and your debit cards can be hacked or stolen. Even if you have all of your money with you, in your wallet, you can lose it. Blockchain is using encryption for all the data during the whole process of the transaction, and the information you share can’t be forged. You only need to use trusted and legitimate exchange websites and official and legal crypto wallets, that offer a few layers of protection. Experienced investors use hardware digital wallets to protect their money.
2. Government can’t follow your transactions
Crypto coins are decentralized, and no government is involved in transactions and savings. Maybe one day, they will have legal monitoring over digital money, but until now, they can’t access crypto operations. Investors love Bitcoins and other currencies because, finally, people have all the power on their money. It’s one type of economic and financial freedom that people respect. Cryptocurrencies don’t depend on fiat money’s fluctuations, and no third party factors can affect your e-wallet.
3. It’s the currency of the future
One day the whole world will be ready to embrace digital money. They will become equal to real cash, and people can decide whether they will use the local currency or crypto money to make a payment, receive a payment, buy something, or to shop online. The risk will still be there, but smart investors will always know when it is better to invest or to wait for a little until the cryptocurrency reaches a higher price.
4. Low fees for your transactions
According to australiantimes.co.uk, you can transfer millions and only be charged a few hundred dollars fee. That is why so many traders decide to make their transactions using cryptocurrencies. When you make fiat transactions, the bank may charge up to a 30% fee of the transaction, and sometimes it takes 2 or 3 days until it’s finished and completed.
5. You can easily get rich
There are a lot of stories about successful investors who become millionaires and billionaires in a short time. They knew how to “manipulate” with the transaction and when is the best time to exchange the crypto money they have on their digital wallets. They invest in tokens and mine and save their money until they gain a high value. Many examples show that every age and level of experience is good for an investment start if you are interested enough. You don’t need a college degree to do that, because many college dropouts earn better than highly educated people.
6. You are a part of the financial revolution
Just imagine you have a role in something big, that will soon change the world. Sounds great, right? Cryptocurrencies will make a huge revolution in the global finance sector. The transaction will become safer, and people will rarely regret their investments. You shouldn’t expect that everything will get better in a night, but the future is near, and many countries and cultures decide to accept digital currencies as an even to fiat money. Of course, you need to stay cautious about the risks, but they are everywhere, so don’t be afraid to make a change that will later bring you more money.
7. You can take your money any time
You can choose the digital asset with lower fees and use it to withdraw your money and convert them to a currency you need. This feature allows you to wait until the value reaches a better price. Until then, your money is safe and untouched, and you won’t suffer any loss. You only need to decide when is the best time to withdraw them. Also, you can send money and receive money from other investors or your friends who invest in digital currencies. This will encourage many people to choose Bitcoins and other digital coins for easier online transactions.
Cryptocurrencies have great financial potential to become a widely accepted way of payment. Hopefully, the whole world will soon accept them and establish good laws that allow people to invest and pay using them. If you’re not sure, you may need to wait for this market to stabilize, because the current coronavirus crisis affected it badly. But, when the crisis is over, the crypto market will be more stable and reliable, and people won’t be afraid to embrace them as equal to real money.