Most investors are nowadays picking to invest in crypto and Bitcoin as their first crypto choice. But Ethereum, which surpassed the largest cryptocurrency with a double margin year-to-date (YTD), is a great option too. Also other cryptos like ripple’s xrp, elon musk’s favorite crypto trending nowadays “dogecoin”, latest in news coinbase etc. It is just a bubble or it is really worth investing in cryptos?
I think most of the countries in the world not allowed Cryptocurrency usage and transaction. What do you think about this restriction?
Though crypto exchange is not legally allowed by any country but cryptocurrencies are being looked upon as the future of payment and settlement systems as we continue to move closer to cashless and digital payments. Some economies have started to open and accept cryptocurrencies as a payment method. The international apex authority of banks, Bank for International Settlements (BIS), and other central banks have concluded that there is no harm to monetary and financial stability in the coexistence of conventional payment and settlement ecosystem along with digital currencies. Moreover, central banks of countries like India and Canada are chalking out plans to roll out their own digital currencies. Notably, the major risks associated with digital currencies is tax evasion and money laundering. As of now, digital currencies are looked upon as an investment tool rather than a payment method.
It really depends on what type of an investor you are, I think DOGE is for people who see their money as fun money or gamble money.
ETH is more of a long-term type of investment, especially with EIP-1559 and the merge coming this year. Even public companies such as $BTCS used $ETH for their cash reserve and it really worked well for them this Q1 of 2021.
How to promote cryptocurrencies online? Because most of the online marketing platforms not allowed to market the cryptocurrency and blockchain product?.
Through influencers are good.
Does anyone of you know about OTC crypto trading? I was looking into it cuz I wanna trade with large volumes and I learned that OTC solves this problem… So I found this one from Nexthash
Has anyone heard any feedback about it?
Cryptocurrency is gaining some serious popularity among investors. The most recent rally around Bitcoin pushed its value upwards of $40,000. Tesla’s investment in Bitcoin and the proposed legislation by the Indian government has evoked mixed reactions.
Bitcoin has been around for a little over a decade but has seen three market bubbles. Touching $1 in 2011, the Dollar Parity Day soon gave way for a crash. The philosophy underlying cryptocurrencies is decentralisation, but some suggest that lack of supervision is the very reason for speculative rises in the value.
There are fears that the current rally is a sign of yet another bubble. However, several institutions are now placing their bets on digital currencies. Cryptocurrencies could either become mainstream or subject to governmental regulation. And the future is still unfolding
The future is well defined. It is already clear that this is not a bubble, recently Bitcoin was recognized in some small country. And this is just the beginning. States will have to adapt to new conditions.
Bitcoin still looks attractive to me. To be honest, I haven’t studied the rest of the currencies properly. Is there something to look at?
I look at cryptocurrencies as the future. The ease of it’s use and the decentralized nature means that there is no Central Bank printing the money out of thin air. At the same time, caution needs to be exercise as such a decentralized approach may not go down well with a power hungry government. All in all, cryptos have the scope to be a part of your portfolio and might even replace gold in the future.
The central bank will somehow find its niche when crypto gets stronger and is legalized in more countries. But for example, the Chinese are against it and this can play a cruel joke for the crypto. Anyhow I agree - it is future
Agree. The CB will have to reconsider its attitude. He seems to be experimenting with crypto already.