Every individual has their own reasons for investing in cryptocurrencies. Some do it purely for financial reasons, to make a lot of money. Some do it for the conveniences like p2p transacting, easy cross border payments etc. And some do it because they don’t trust banks or the government with their money. Whatever your reasons might be, it’s important to remember these reasons as we move into an uncertain future. These are my reasons for investing in cryptos.
Money - Undoubtedly the reason many people at this point are invested in cryptocurrencies is the thought that some day they might become very wealthy by doing so. And I’m no different. I wouldn’t call it my main reason, but it would certainly be nice to make large sum of money in the future, so that I didn’t have to work as hard. I’m sure many in the baby boomer generation regret not investing in some of the dotcom and tech companies of the 80s and 90s.. The fact of the matter is, investment opportunities such as this, only come around once or twice in a lifetime. It’s worth the risk to me.
Youth - If you want to have a good idea of where we’re headed in the future, look at what the young people are doing. Young people like cryptocurrencies, I would argue it’s a young person’s game at this point, aside from the crafty elder whale or two. So it’s important to take note of things like that when investing. Young people are trendsetters and hold the future in their hands.
Convenience - Maybe I should say future convenience, because some currencies at this point aren’t fast or cheap enough, I’m looking at you bitcoin. But I do believe the scaling issues will be solved in the future, and nearly every cryptocurrency will be fast enough and cheap enough for everyday use. When this happens, I can definitely foresee many people switching over to cryptos to avoid hefty tx fees and long tx times. Not to mention not having to deal with third parties like banks, who can decide to freeze your account at will.
Hedging - Do I know that we’re going to have a massive worldwide economic collapse? No. It could happen though. I personally think we’re walking on a tightrope these days as a society. The planet is warming, the climate is changing, and I think it’s only a matter of time before we have some really bad situations on our hands, far worse than what we see now. That’s why I’m hedging some of my money in cryptos, because if shit really does hit the fan in my country, I want to have a backup plan. A way to provide goods and services to my family. Nothing beats a universal p2p currency for situations like this. That’s why in countries like Venezuela or Zimbabwe cryptos are so valuable.
Decentralization - I believe cryptocurrencies have the ability to give the power back to the people. The world we live in today is extremely centralized. We’re basically just pawns in a high stakes game of who can seize the most power, money and control. We are controlled by a series of mega corporations. Everything we do is scrutinized, and we’re given the illusion of free will. The cracks have already begun to show, and I think it’s only a matter of time before we start to see the exodus towards decentralized crypto powered platforms and currencies. The people have to want it though..
So these are generally some of the reason I’m invested in cryptocurrencies. Curious as to the reasons others have. Thanks for listening, and say positive!
Than you for this post it is so important to get these issues out in the open you have provided a great post making people aware of the potential of this technology and currency is now as I see it a duty! PEACE LOVE AND RESPECT.
Appreciate it man!
Crypto is the future!
Agreed on cryptocurrencies, so many options i personalized do it for the decentralized aspect, maybe one day the people can hold the economy again
That's wonderful. I value your thoughts on this evolving cryptocurrency that's been the hype these few years and you're right younger gen are the future that'll drive the economy to what it'll be. Savings always has its advantages if one strives for it. Thanks for your valuable information about crypto and your plans with family.
hi smytro
Your blog is very interesting and informative.
I am new to crpto feild. I am in dilama what to do? or what don't ?
I have one doubt, whether centralised or decentralised currency is best for us ?
I want to do some investment in this field
please clarify my doubt
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STOPTo support your work, I also upvoted your post!
Don't you think the prices of cryptocurrencies are influenced by big whales? Most times they are the reason why the prices are so fluctuant.
If the prices are dependent on whales or on USD then how do we 'the common people's have the power in investment in cryptos
It's early days, so there's definitely a number of elder whales who do manipulate the price. But the generalized demographic who like cryptos are young, and because of this I see a bright future.
yeap!
it is widely believed that crypto will somehow solve the inequality of wealth distribution
Many have invested just see the huge fluctuation without understanding the story behind it, Now most of them creating panic and spreading nagativity in the market about the crypto currency and politics may take advantage of the same.
People have to take a step back and look at the big picture. Every new technology goes through its ups and downs, and has a host of old-minded neasayers who are convinced it's worthless. Bitcoin and cryptos are no different. For some reason, lots of people still can't see value in bitcoin, most likely because it's intangible. But as we move further into a digitized age, lots of things will become intangible.
Nice post, appreciate.