Is Cryptocurrency a Good Investment? 6 Benefits You Didn't Know

Is Cryptocurrency a Good Investment? 6 Benefits You Didn't Know

Cryptocurrencies and blockchain technologies are rapidly changing the way we do business, and this change is certainly not going to stop anytime soon. While many people think of Bitcoin and cryptocurrency as merely another form of payment or currency, others see it as an investment opportunity that can be profitable down the line. But how exactly does investing in cryptocurrency work? And how can it benefit you if you’re only using it to pay for goods and services?

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#1 - Because it’s financially secure

Having all of your coins in one place is extremely convenient. No more fumbling for change at checkout. No more leaving bills at home because you forgot to grab cash out of an over-flowing wallet. This is not to mention it’s much safer than carrying cash with you, or worse, risking getting robbed on public transportation and having your hard-earned money taken from you at gunpoint. While digital wallets aren’t yet 100% infallible, they are certainly safer than leaving cash lying around where it can be stolen or lost. In most cases, if something bad happens to your cryptocurrency stash due to theft or loss, it will be covered by insurance and replaced – so why leave that up to chance when you don’t have to?

#2 - Because you can grow your money

Investing in cryptocurrencies has seen huge returns for investors, who’ve turned small investments into lucrative fortunes. For example, those who invested $1,000 in bitcoin back in 2011 would now be sitting on more than $36 million. Yes – $36 million! And, thanks to advances in blockchain technology, if you invest today you could see even bigger returns on your initial investment as cryptocurrency continues to grow and evolve over time.

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#3 - Because you have financial independence

If you have your own business or work for yourself, you will never again be in dire straits because of your financial status. A major benefit of being financially independent is that you won’t have to answer to anyone else’s whim when it comes to your paycheck and what you want to do with it.

#4 - Because cryptocurrencies are global

It doesn’t matter where you live or what language you speak, cryptocurrencies are accepted by thousands of merchants around the globe. Being so easy to use is just one of their benefits.

#5 - Because it offers privacy

What’s more important in your day-to-day life than privacy? For some, it might be nothing. And if you ask a cryptocurrency proponent that question, they’ll probably give you an answer in one of two extremes: all of it or none of it. The truth is somewhere in between, and cryptocurrencies such as Monero have taken steps to ensure that we all have something called financial privacy. (Monero)

#6 - Because it reduces fraud

Cybersecurity expert Bruce Schneier has pointed out that while credit cards help us make purchases and wire transfers help us send money, cryptocurrencies are actually backed by technology: Bitcoins have value because they are useful as a form of money. Bitcoin has value because it is both a commodity and a currency. Bitcoins have value because they are useful as a form of money. To invest in cryptocurrency, you need to purchase enough bitcoin or ether to make that possible—but those investments can appreciate in value.