I am sure by now you have already heard about the majestic world of Blockchain technology and cryptocurrencies. They have turned random teenagers, or your average house neighbors into millionaires as the media says. If cryptocurrencies are the best way to earn money, it’s the easiest way to lose your money. Governments are not-so-sure about it, banks are wary of it. so at this point, we don’t who to trust?
The digital or real world? It’s your call However, it has definitely turned a lot of heads around and gained popularity in a few years.
Most people stay ways from cryptocurrency because they can never understand what it actually is. Many people ask questions like miners use their computers to earn new coins? Can coin duplicate into new ones? How do you buy bitcoin or put a price for it? Is it issued and controlled by the government?
Is all of this even real? Now your mind is spiraling with different questions every time you hear about cryptocurrency. Sometimes it can get a little hard to get hold of the coins and securing them safely. Meh!
To invest or Not?
Now, this is the most common question people ask. It all depends on the market and its demand. The current prices are great for an entry, but this can also go low. Don’t forget that. So it’s important to learn and educate yourself about the Blockchain, cryptocurrencies and the distributed ledgers. Put in effort and time to learn how it can affect our lives and what is it. Consider cryptocurrencies like toys and experiments for the people.
Now, most of the times, when you first get a toy it is the best thing in the world but soon it becomes boring and ordinary. However, when cryptocurrency becomes mainstream it will not cost you much when you use it. If you like challenging yourself and taking greater risks, don’t miss out on these potential gains. No need to FOMO (fear of missing out) and just blindly jump on the bandwagon.
Is Crypto An Asset?
Fun fact: cryptocurrency was actually a close circle group which was created by “cyperphunks.” Now even after the coins were more reachable, people did not know or hear about it. However, still most people haven’t heard about it, and even if they have they try to stay away from it. Nowadays, more curious investors are looking into the world of crypto and getting fascinated.
There are two types of investors, either who really get what decentralization means, these are the true manipulators, crypto enthusiasts and proper institutions and businesses that attempt to incorporate the technology. The rest are the gamblers who cannot care less about their loss, only care about their gains.
You can always use charts to search the market but there is no telling when the bear market will end. However, there’s always a chance that this bear market drags on or dips further. Maybe all we can do is wait and analysis our charts.