With Elon Musk explaining what cryptocurrency is to J. K. Rowling and the term having a geek flavor to it among traders, many ask themselves if still investing in cryptocurrency is an option for those who do not have a clear idea of this currency from a technological point of view. The main issue is that, usually people want to catch up with an investment when it is 100% safe and this only happens when the said share or business is already so expensive to be affordable by everyone. However, there are signs that whether a certain sort of investment or technology is going to thrive and its shares skyrocketing. One of these signs is: who is investing in the under question stock or investment program and for what purpose?
Recently, there has been big news emerging from both sides (good and bad news together) on cryptocurrency. According to CipherTrace, crypto criminals have already stolen USD 1.4 billion only in the first five months of 2020. This can be horrible news for those who are worried about how blockchains function in terms of security and how to safeguard their capital from hackers. Most of these criminal actions were committed by a single hacking organization in the trial in China, however. But let’s see this from the other side: hackers have to put so much effort into breaking into the high-security monetary system and utilize cutting-edge technology to have the upper hand in order to steal money from the exchange. And they have not done all this in vain, only those who are very well aware of the value of cryptocurrency take such a big risk.
This is actually an evident sign of the industry becoming mature. This has been the talk of the town for a while now, and it is impossible for bitcoin to vanish anytime soon as its value is already too high for any other currency to replace it. Cryptocurrency is even finding its place in political businesses. For example, it is no secret that Vantua is one of the ideal places to consider for getting your dual citizenship as their citizenship by investment programs are affordable and very fast. And guess what? You can pay for your citizenship in cryptocurrency!
From the other side, the second richest man of Mexico and the world’s 166th wealthiest citizen, Ricardo Salinas Pliego, has turned 10% of his liquid wealth into cryptocurrency, and specifically, bitcoin. One of the most important points to consider today is that paper money can lose its value at any time, due to the political or economic situation of a country same as what happened to Venezuela. This will never happen to cryptocurrency as this exchange is affiliated to no country or centralized banking system – this is with the exception of some specific kinds of cryptocurrencies that are, for example, depending on the value of a certain currency. This is the major reason why Mr. Pliego has emphasized in a tweet today that it is very important to know about this digitized currency and why it is of high importance to diversify your portfolio.
Despite its volatility, bitcoin has proved to have the best return in just one year or two, and this is against all other asset classes. Thus, it seems to be the best time to learn more about cryptocurrency and see if your portfolio goes well with this exchange.