JoshAs far as investments go, it is always worth remembering that the key to having success, is in creating a verse portfolio of investments, in order to spread your money about and minimize risk. This is one of the many reasons why you ought to invest in digital currency a new and potentially profitable way of investing your money.
The world was stunned last year when Bitcoin, arguably the most successful digital currency to date, saw a price increase of almost 1000% in the space of just a few short months. On the back of the success of Bitcoin, we have seen many more digital currencies coming to the fore, all of which offer different benefits for investors, and all of which can also offer huge upside potential. If you aren’t sure whether or not cryptocurrency is for you, here is why you should start investing sooner rather than later.
Speculation
Much negative news has been written about cryptocurrencies and their security as an investment but much of this information has come from traditionalists who cannot see that digital currency will be the future. Many analysts have made bold 10 year predictions for many of the cryptocurrencies such as Lytecoin, Epherium, Ripple and Bitcoin, with all of them expected to see a sharp rise in value over the coming years and months. Many feel like they have missed out on crypto but the truth is that now is the best time to get involved.
Tax Free
Because of the fact that digital currency comes from a community-based system, rather than from a centralized bank or finical institution, there is no way that they could ever tax it. In order to put any kind of taxation in place, one would have to rely on users voluntarily donating money, something which is impossible to enforce, and highly unlikely to actually happen.
Ease of Use
Investing in digital currency is incredibly easy to do, all you need is a Bitcoin or digital currency wallet, and then access to the online exchanges. Unlike traditional investments, you do not need proof of address, you don’t need ID and you can rely on carrying out this entire process without any unnecessary paperwork. The anonymity of cryptocurrencies is the key to its success and with that comes a transactional process which is incredibly easy.
Future Success
There is a lot of uncertainty at the moment about cryptocurrency, with many Wall Street insiders claiming that there is no tangible value to the digital currency, and that the market is considerably overvalued. This may or may not be true but what we can see is the steady growth of digital currencies, and the companies and governments who are taking it on. Japan’s government have already got things underway by accepting cryptocurrency and companies like Apple are already starting to make deals with cryptocurrency providers like Ripple. The point is that this will be completely legitimate and free from doubts in the not-too-distant-future, so which side of the fence will you be on?