That’s right. Stop waiting, cryptocurrency is here to stay. Now you are wondering what gives this guy the right to make such a bold statement. It’s easy, the world is constantly changing and we must change with it or be left behind. You do not want to be the guy or gal that always talks about how they could have invested in Microsoft or Google before the stock value exploded.
The concept of cryptocurrency is new, but it’s out of the fledgling infancy stage and is moving full speed ahead. Let’s compare cryptocurrency revolution to the .com boom back in the mid 1990’s. Everyone saw value in the information super highway for ecommerce, but bringing that to reality was a different story.
Thousands of innovative ecommerce websites were created, but very few were profitable and most eventually failed. These websites didn’t fail because they had nothing to offer. They failed because mass adoption hadn’t taken place yet and they were unprofitable. A lot of speculative investors lost money when that bubble burst after 9/11, but fast forward to today and look at the ecommerce industry.
It took time to get people used to doing business online and to realize the advantages that it offers. Once true adoption took place, ecommerce websites became interwoven into our society and now actually threatens traditional brick and mortar storefronts. Who knew the information super highway would grow into the internet as we know it today.
To be completely honest, the examples are endless. I remember seeing people rebel against the concept of bank debit cards and question why people don’t just use paper money. Even now, I personally haven’t used Google Pay because I have cards in my wallet, but the concept is growing on me. Times change and I must change with it.
So, why do I say stop waiting cryptocurrency is here to stay? The opportunity of a lifetime is right in front of us, but it is up to you as an investor if you will take advantage of the opportunity or not. I failed to enter the industry in its earlier stages, and for that misjudgment, I still work my 9 -5 doing the traditional rat race.
Unlike most people, I heard of Bitcoin prior to its 2017 all-time high of $19891.00. I actually heard about Bitcoin when it was about $400.00 a coin and was intrigued with the concept of creating my own currency. It’s funny, but I actually saw mining cryptocurrency as a form of alchemy.
I spent about 3 hours one Sunday researching how to mine and store the cryptocurrency, but gave up due to laziness on my part. That Sunday afternoon could have changed my life forever, but I decided to watch Sopranos on HBO instead. One of the biggest mistakes of my life I will regret it forever.
Industry has become much easier to navigate and explore unlike when I brought my first fraction of Bitcoin and Ethereum during their all-time high during December 2017. During that bubble, I struggled to find an exchange that would process me as a new user because they were all overwhelmed with the sudden interest.
I ended up getting an account on Coinbase and Kraken. Coinbase only carried about four coins, but was easy to use. Kraken carried much more, but was a bit difficult to navigate as a novice with minimum knowledge. The crypto world is much different now and the opportunities to invest are boundless. With that said, there are many pitfalls and you must do your own research.
The .com era offered investors hundreds if not thousands of IPO’s (Initial Public Offering) on the stock exchanges, but many of them failed because the ecommerce site that they offered were not profitable. This happened too many of the ICO (Initial Coin Offering) leading up to the bubble busting in 2017. Setting up a blockchain currency with a cool name isn’t enough, the cryptocurrency of token needs real world adoption/use.
Yes many people lost their money when the crypto bubble burst, but a lot of it was their own fault. People fomo’ed into Bitcoin at its all-time high, which is the worst investment choice for an individual. You want to get in at the ground floor and ride the wave up, not get in at the top of the wave and come crashing down and blame everyone else for your failure. Investing is not gambling or instant gratification.
I hope at this point of time you are rethinking investing cryptocurrency and have accepted that cryptocurrency is here to stay. There is a plethora of online and app exchanges to use as a starting point. I personally suggest Coinbase, Kucoin, Crypto.com (app only if in the US), or Etoro for beginners. There are many others like Binance and Kraken, but I suggest the others for new investors.
Once you have selected an exchange, please remember to research the cryptocurrency before investing. I suggest that you consider Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), VeChain (VET), Kyber Network (KNC), and Chainlink (LINK). They all have very bright futures and your investment should do well over time. But remember, you must be patient and investing does not equal immediate gratification.
So what do you guys think? Do you think that cryptocurrency is here to stay? If so, I hope this blog post helps you along your way as you enter the crypto world. Please remember that I am just another guy on the internet with a passion for cryptocurrency. I am not a financial advisor and it is important that you do your own research.
If you choose to select one of my preferred exchanges and sign up with the link provided, I will receive a small stipend which will help pay for the resources that this blog requires. If not, I understand and I am excited that I just might have helped you make a life changing decision. Until next time,do your own research and cheers!!!