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Right Time To Invest In Cryptocurrency And Why?
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Right Time to Invest In Cryptocurrency and Why?
Now is the right time to invest in cryptocurrency, but many investors regret having missed the first-mover advantage. Here’s good news; 2018 is the right time to jump on the cryptocurrency bandwagon and here are a few reasons why.
The legacy cryptocurrency, Bitcoin, hit a $10,000 USD mark earlier in 2018. Although this value is lower than last year’s $19,000 USD, 2018 is a great time for new investors to join. The public is more aware of the returns that the industry can provide and are eager to join the race.
Bitcoin cap is fast approaching; Altcoin availability increases
Almost $17 million Bitcoins are already in circulation; there’s only a total of $21 million Bitcoins that will ever exist. When supply is cut, the asset’s value is bound to increase exponentially. It’s better to hoard up on the currency now!
Altcoins, on the other hand, provide an opportunity for new investors because they are more economical. New tokens are now created with advanced utility tools for real-world applications. In fact, people actually have a hard time choosing a cryptocurrency to invest in, but the availability of good choices is an advantage.
Mass acceptance of digital currencies provide better usability
This year, industries have opened their wallets to cryptocurrencies. Many vendors accept digital currencies for payment and are aware of the benefits of using blockchain platforms. It is the right time to invest in cryptocurrencies because organizations are ready to enter into partnerships with digital currency platforms. People will find it easier to use the currencies for day-to-day purchases rather than just trade the currencies on exchanges.
It’s the right time to invest in blockchain technology
The underlying network of cryptocurrencies, blockchain technology, is being used by a wider variety of sectors in 2018. There are many benefits to using blockchain technology; the technology is secure, fast, economic and automated. The features have major implications in domains like supply chain management, digital identities, business development and so on.
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” - Don and Alex Tapscott
The corporate and business opportunities of blockchain technology are humongous. By eliminating third-party interference, the technology can apply to a wide variety of transactions. Many sectors already recognize this. Smart contracts, an integral part of blockchain technology, are digitally enforcing contracts that are built-in with variables and conditions to carry out a transaction. As a completely trust-free contract, only pre-approved conditions from transactional parties are referred to.
In the future, all and any transactions can be conducted through blockchain technology. Identity thefts are not unheard of and yet, there is little security providers can do without costing users money. Blockchain technology provides a form of online identity and personal information storage that can only be viewed by consenting parties.
The applications of the technology do not end here; its possibilities are still being unearthed. 2018 is a good year for cryptocurrencies and blockchain technology because of the lowering levels scalability problems. The right time to invest in cryptocurrencies is today when the public distrust surrounding the technology is dissolving.
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