21 Dec
We all know that Cryptocurrencies have had a revolutionary impact on the world economy. The fact that they are not controlled by any government or bank, not affected by the inflation of a certain country, that allows us to work under some anonymity on a platform which is at the same time safe and in growth makes them very useful tools today, so many people have decided that this is the right time to invest in Cryptocurrencies.
These are 10 very convincing reasons to invest in Cryptocurrencies:
Security of Cryptocurrencies
One of the main strengths of Cryptocurrencies is security. Unlike traditional bank accounts and financial transactions that face the risk of being hacked, the Cryptocurrencies system is totally safe because it depends on cryptography. The security of the Blockchain (Blockchain) is such that, once the transaction has been confirmed, it cannot be changed.
The transaction process is carried out by “miners”, who takes them, legitimizes them and spreads them over the network, after which each node adds it to its database as part of the blockchain. With blockchain, investors can be sure that no one beyond the miners gets involved in their transactions. Another key point is that your currency funds are stored in a cryptographic system with a password and only the holder of that password can send Cryptocurrencies
Anonymity and privacy
Anonymity and privacy is another strength of Cryptocurrencies since the blockchain system prevents third-parties, organizations and governments from knowing what you are investing in or buying, how much you have spent and who you are buying from.
Transaction costs
The transaction fees with Cryptocurrencies are much lower than those made with traditional currencies. Generally, transaction costs are zero or too low for the change in Cryptocurrency, as miners are compensated by the network. The only fees paid by operators are those when there was a third party involved in creating and maintaining their own wallets
Use and ease of entry
Traditional methods of investment can be difficult; however, with Cryptocurrencies it is easy, so many permissions are not needed, and businesses operate 24 hours a day. You can receive and send Cryptocurrencies without the need for expensive software, without having great training or licenses and no one can prevent you from investing.
Portability of the Cryptocurrencies
It is becoming more and more complex to carry large amounts of money from place to place. Transporting thousands in cash can be a problem; however, with Cryptocurrencies, all these difficulties are resolved because it is possible to carry any amount of money in Cryptocurrencies in just flash memory.
Transaction speed
With Cryptocurrencies, you can send money everywhere around the globe without restrictions and will arrive in just minutes. It will only take the time the network delays to process the payment.
No debts
Cryptocurrencies do not represent debts, they represent themselves and always reflect exactly the total amount of money you count on.
Low inflation risk
Cryptocurrencies face very low inflationary risk. This happens because all the traditional currencies in the world are controlled by governments and if they face a crisis, then their currency suffers the effects. This leads to the fluctuation in the value of the currency. Investors in Cryptocurrencies believe that they have a lower inflationary risk than traditional currencies, as they are not controlled by government policies and do not depend on the economy of a specific country. Its value is not influenced by the normal tendencies of the global economy and therefore remains high even in the worst circumstances.
The rising price of Cryptocurrencies
The weightiest element that incites to invest in Cryptocurrencies is that its price always tends upward. The Bitcoin, for example, reached high values in November 2017 and then certainly fell, but it has remained stable between 8-9 thousand dollars. If we consider that seven years ago we barely paid a few dollars for a Bitcoin, then we have a panorama in which those who bet on investing in that Cryptocurrencies at that time saw their initial investment grow enormously.