The era we’re in is booming without a doubt. With the rise of technologies latest blooming innovation it is safe to say that Bitcoin and its fellow competitors are what’s hot on the market. Despite the popularity, the noise, and speculation surrounding this crypto-fad one fact remains to be true standing and stabilized under such circumstances in any hot market; there’s money and opportunity to capitalize on.
Bitcoin is not real physical money but stitches a perplexed value to the consumer because it is sent from peer to peer electronically through a ledger called the blockchain with no strings attached. A blockchain is a database system that documents all transactions inside of the network making it possible to trace any online addresses transaction back to the very first one. The appealing nature of BTC soaring prices is what makes Bitcoin (well yea you guessed it)… Bitcoin! Cryptocurrency is a new market that is responsible for a new load of wealth. Let’s think back to the Internet bubble in the early 2000s. No doubt it was a special time, revolutionary to say the least. After the Internet along came smart phones, opening the door to an avenue of uniqueness, which we know of today as social media. These platforms paved the successful and evolutionary road for the beginning of tech, and yes we’re just getting started. The way social media used the Internet and its progressive technology as an asset for and through the public is the same way Bitcoin uses technology through the internet as an asset in the digital world for everyone occupying it. BTC has already been recognized as an extremely valuable tool that sets it apart from every day money use. Host your own crypto through your online wallets or ledgers and avoid banks and other regulators. Your online address is all you have and the public values its independence because of its security and disassociation with major financial institutions or government. It’s all a substantial part of the catch that pumps value into the market. However, an unstable store of value on cryptos is the price we pay for no banks and no regulators.
With all pros set aside of course there are considerable points to be made that con the crypto world. Cryptocurrencies have proved to be somewhat of a dense market with extreme volatility. The rise of new cryptocurrencies that start off bidding at a fraction of a penny have only added to how volatile the market can be. Yes you may have made some serious cash while betting on these new alt coins like Ripple (XRP) and Tron (TRX ) but the person(s) backing it on online exchanges like Cryptopia, Binance, and Bitstamp are also responsible for inflating its real intrinsic value.
Even if Bitcoin tanks the crypto market is here to stay. In 2017 BTC was 80% of the crypto market. Now as of early 2018 it’s only 55%. This is an encouraging call to action for all my fellow and ambitious cryptocurrency enthusiasts reading this now. If you are looking for a new coin to wager on look for one that solves a problem. The way to win is to diligently follow the news to the best of your capability, do your own research, and most importantly only buy into what you understand and have confidence in.