The Future Of Money: Cryptocurrency, & Why You Should Invest Now.
Updated: Aug 10, 2020
Hi all welcome to BrainFoodLife! Your go-to source for all things, and for today's topic, money. Or more specifically Cryptocurrency. This has been something I wanted to touch up and talk about for a while now, even though it may be portrayed as an iffy topic. Cryptocurrency has been around for a long while now, the most familiar one known to be Bitcoin, which has been around since 2009, over 10 years ago!! Yes, its been out to the public for a long time now, but hasn't really gained much attention until more recently over the past couple of years, and is growing even more especially in the last couple of months. . .
Now lets get into why you should invest in cryptocurrency and why I personally have!
Before we get into it I just want to put a disclaimer that these are my personal opinions, and you should invest in what you feel like would be the best option for you.
First a little backstory, crypto is a decentralized digital fund/asset. So basically, this means every transaction made using any form of cryptocurrency is not tracked by the government, and can easily be sent and traded in a matter of seconds to anyone, anywhere in the world. Pretty cool, I know!!
Now lets get into how buying cryptocurrency works, and how it can be a great long term investment. Since alot of you are familiar with bitcoin, lets set this as an example. So when bitcoin was first released in 2009 it was only selling for $0.08 to buy 1 Bitcoin. Now today when I am writing this, to buy 1 Bitcoin it costs $11,094.52!!! Basically in short terms if you bought bitcoin a couple years back you probably would be in a yacht somewhere, drinking a Pina Coloada and probably not reading this, haha. Dont be startled though, bitcoin is not stopping there and it is only going to get more and more better/expensive, this is simply why you should invest NOW. You want to buy when it is at a reasonable lower price to get the maximum amount of profit when it does go back up. For bitcoin I would say right now it being over $11,000 is relatively high, and it has the potential to go back down to about somewhere around $9,000, which in my opinion would be a great time to buy. This is just MY opinion. (You can buy portions/fractions of bitcoin, known as 'satoshis' for any dollar amount you want, could be as little as $5. Obviously, you wont gain as much profit compared to buying one whole bitcoin.)
Also, you should take note that many bigger companies such as Paypal (who recently just announced June 22, 2020) and Visa are venturing into the cryptocurrency world, and are implementing systems to trade and buy crypto. This just going to add to the growth of cryptocurrency and increase the value. THIS IS A SIGN FOR YOU TO DO YOUR RESEARCH AND INVEST NOW!
Now you may be saying, "Ellen, I dont have that amount of money to just put all into bitcoin, I have bills to pay you know!" Dont worry, your crypto dreams are not dead yet haha, there is so much more potential other then bitcoin. This is where we get into ALT COINS.
Alt coins, are cryptocurrencies as well, which I like to call them the under dogs of bitcoin, they are cheaper, not as popular, but some have a huge growth potential. A couple of my favorite alt coins that I have invested in is Ethereum ($333.38), Chainlink ($7.49) and XRP ($0.24) Just to name a few! As you can see there are many lower priced cryptocurrencies as well. The pros about these are since they are cheaper, you can buy a whole lot of them and make a larger profit :)
So when the price increases you can sell them and get your profit, or hold on to them if you believe there is a greater growth potential. These alt coins are great to invest in if you are new to investing in cryptocurrency, or just a new investor in general.
The platform I use to buy and trade crypto is coinbase. (They have an app and website, so easy to use.) Its very secure and insured, and you have access to news articles relating to the specific crypto price movements, and obviously access to bitcoin and a variety of different alt coins. (If you use my link you will get $10 worth of free bitcoin, which would be a great start to your crypto investing journey :) ) Obviously, before making any type of investment do your research, and only invest money that you would be okay with losing.
I believe that this is just the start of the cryptocurrency revolution, and that there is so much growth and profit to be made here :) Now it is only a matter of time until we are riding in our flying cars, the paper dollar is extinct, and we are paying for our Starbucks coffee using digital cryptocurrency. Take me writing this as a sign to do your research and see if this is a sound investment for you. Just think about it even 5-10 years from now, where you will be financially if you invest in crypto. This is the future, we either except it now and ride with wave and get ahead, or get lost in the way.
Take control of your financial destiny, let your money work for you.
Thanks for reading all the way to the end!! Now that you have learned a little more about cryptocurrency and the huge growth potential behind it, do a little more research and find what alt coins you would be happy to invest in, and you truly believe can grow and be the next 'bitcoin'!!
If you have any questions about cryptocurrency or any questions in general, I would love to answer, just write your questions down in the comments. Excited to help you in your crypto investing journey!!
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