The Truth About Cryptocurrencies Like Bitcoin & Why They Are Here to Stay
Cryptocurrencies, such as Bitcoin, are digital assets that will soon become the preferred payment method of the world. Millions of people around the world already own and actively trade these currencies everyday, and even though it is a very volatile asset class, all signs show that investing in Cryptocurrency today will end up becoming an incredibly profitable long term investment.
There are so many reasons to be optimistic about this new emerging asset class, but maybe the most exciting aspect of Cryptocurrencies like bitcoin is that they give their owners the opportunity to escape the traditional banking system, allowing for independence from national currencies.
Most Cryptocurrencies are decentralized in nature, meaning that there is not a single large and all powerful oversight body which controls the payment network. Rather, assets like Bitcoin offer a user controlled digital currency, which can be sent from one person to another on a peer-to-peer network, without the need for intermediaries. This gives owners of these currencies complete control over their finances, making them immutable, irreversible and free from sanction or government control.
The innovation of this payment method is astounding and offers its users a sense of economic freedom that is truly unrivaled by anything else. Because of the nature of this blockchain technology (a ledger that keeps a record of economic transactions made, maintained across several computers that are linked in a peer-to-peer network), there are nearly limitless applications which can go beyond just payment networks.
Blockchain technology can be used in things like supply chain management, healthcare, fundraising, digital identity, voting, food safety, real estate, insurance and much more.
Cryptocurrencies also offer tremendous investment benefits as they can be perfect for portfolios because they have a low correlation to other asset classes. Because of this low correlation, Cryptocurrencies allow for bear markets in traditional asset classes to have little impact on the currencies prices, helping to balance, diversify and secure any portfolio from significant loses in hard times.
There is so much more to be excited about and we can’t possibly cover it all here, but its important to realize that large returns or losses are possible because this technology is in its infant stage and still has very high volatility. Knowing all of this information, experienced and informed investors or traders have the opportunity to make life changing gains in a very short amount of time.
This page will provide reviews and discussions of some of the best Cryptocurrency products, exchanges, wallets, hardware, software, education material and more to help you best understand how to capitalize on this market. If you’re ready to get started on your journey, click on the links below to get more information on how to purchase any of these digital assets like Bitcoin today.
Id recommend starting your fiat to crypto purchase with exchanges like CoinBase or CoinMama. Once you’ve made a purchase of your favorite Cryptocurrency, make sure to store your coins in your own personal hardwallet like a Ledger, Trezor or KeepKey (read our hardwallet comparison here). If you’re interested in trading, my favorite exchanges at this time are Binance and Bitseven, although there are plenty of options for you. Click the links to get more information on each topic, read our other articles and stay up to date with all things Cryptocurrency and finance by signing up for our email list. We wish you nothing but the best!