Cryptocurrencies have been on the rise over the last ten years as many investors and entrepreneurs invested in Bitcoin, and the wide variety of other coins since the initial Bitcoin launch.
In 2022, Crypto is more popular than ever before as investors and ‘mom and pop’ consumers are eager to invest in Bitcoin as they regard it as a hedge against inflation.
If you’re new to Cryptocurrencies, this article will offer insight into what crypto is, and what you need to start investing in the crypto market.
What Are Cryptocurrencies?
Cryptocurrency is a virtual or ‘digital currency’ that only exists online.
It can only be bought or sold only and can’t be physically held like gold, silver, cash, or other coins.
What makes crypto ideal is that it’s not tied to any physical currency or hard asset (like cash) and that’s why it’s a hedge against inflation because when the stock market or economy goes down, crypto remains stable and reliable.
Crypto is so popular in the 2020s many countries, including Brazil, are using crypto in place of cash or other forms of currency.
How Is Bitcoin Valued?
If you’ve followed the news over the last 3 years, you’ve seen the value of Bitcoin increase exponentially, this is due to the instability of other currencies, and the economy.
Crypto continues to increase due to traditional supply and demand principles. This means that with more people investing in Bitcoin, the price has increased in recent years.
Thankfully, even though the one Bitcoin is valued at $19,529, the good news is that other coins have come on the market in recent years making it easier than ever before for new investors to break into the Bitcoin market and add digital currency to their portfolios.
Why Invest in Bitcoin?
Global economic instability is one reason why an investor should consider investing money in Bitcoin but there are a host of other reasons including wealth preservation and using digital currency as a hedge against inflation.
Ultimately, the decision to invest in Bitcoin is a personal decision that each investor should make after consulting thoroughly researching the market for themselves and determining if Bitcoin is right for their investment portfolio.
Like credit cards, PayPal, and other digital payment methods, Bitcoin is a digital currency that’s not going anywhere and will be in use for years to come.
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