This list of fifteen reasons to invest in cryptocurrency is not in any order. The best reason to invest in cryptocurrency may be number 13 on this list.
- Decentralized. Bitcoin and many other cryptocurrencies do not have a business or government running them. This makes crypto resistant to hacks and anti-fragile.
- Not ran by a government. This means Bitcoin and other cryptos are not tied to fiat money and are potentially hyperinflation resistant. They also can (and have) weather(ed) Civil War or governmental collapse.
- International. Anyone who wants to accept cryptocurrency as payment can accept it as payment. This means you can do international business or even travel to another country and use your crypto.
- Open. Anyone can use cryptocurrency or build on top of cryptocurrency. This gives opportunities for the unbanked to have financial service and for developers to create incredible software that has never been seen.
- Trustless. You don’t need to trust a government bureaucracy or a broker. You trust the code instead.
- Supply. The supply of most cryptocurrencies is more trustworthy than government fiat. With Bitcoin I know there is only 21 million that will ever be in circulation. There are cryptos that don’t have limited supply, but their inflation rate is far more public than the government’s.
- Public. Any transaction can be verified on the blockchain explorers. You never have to trust anyone you can verify everything yourself.
- Self-custody. Anyone can choose to have custody over their own crypto funds and have full control (unlike a bank where you must trust an institution).
- Remittances. Transacting in cryptocurrency typically has lower fees and is much quicker than traditional systems like Western Union.
- Smart Contracts. Cryptocurrency projects have built smart contract systems that allow the creation of contracts that operate at the speed of the internet and take out traditional middlemen (saving customers money).
- Non-Fungible Tokens. Blockchains allow the storage of unique digital items. This has applications for video games, storage of digital art and many other use cases.
- Unprecedented growth in price. Bitcoin was below 1 Dollar in value back in 2010; today it’s worth 60,000 USD. This is because Bitcoin (and other cryptocurrency values) are tied to their network effect. Just as Facebook grows in value with more users so do cryptocurrencies.
- Cutting edge technology. There are thousands of projects in the cryptocurrency space and some of the world’s most brilliant minds are creating new products that will change our world.
- No banking hours. Cryptocurrency runs like the internet; continuously. Do you need to send someone payment at 3 AM on Christmas Day? You can do it.
- Decentralized finance. This goes deeper into smart contracts, but decentralized finance (DeFi) is creating new ways to save, lend, borrow, insure, and invest money.
If you are interested in buying cryptocurrency you should check COINBASE.
They are a well-established cryptocurrency exchange and make buying cryptos like Bitcoin easier.
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