Investors: Don’t Miss the Early Days of Cryptocurrency
Even though Bitcoin’s been on the market since 2009, cryptocurrency is still in its early stages, and the time to invest is now. Volatility is high, and so are the rewards. The cryptocurrency market is still emerging, and getting in on a cryptocurrency, crypto mining operation, or initial coin offering, could pave the path to huge financial gains.
Crypto Markets are Expanding
Currently, Bitcoin is valued at over $8,000, and just a month ago it set a new record reaching $5,000. People are making their fortunes in crypto, and it’s easy to find plenty of examples, from Bitcoin millionaires posting on Reddit to early investors in successful altcoins like Ethereum, Litecoin, and IOTA.
While it’s still somewhat of a financial wild west, people are making huge sums buying, trading, and mining cryptocurrency. If you’re tired of minuscule interest rates at banks and low returns on stocks, investing in cryptocurrency or crypto mining are profitable options.
Why Go Digital?
Imagine a world with less financial barriers. You travel anywhere in the world never having to exchange currency from country to country. You pay and get paid instantly, and with minimal fees. No matter what happens to the economy, your money is safe and accessible, and no government or other entity can step in to control it. Cryptocurrency is the wave of the future promising to make all this possible.
How Do You Create Money Out of Thin Air?
When you hear about crypto mining for the first time, it sounds like you’re making money out of nothing. With paper money, a central government prints it and decides when to distribute it, controlling its value. Mining relies on mathematical software to solve complex problems called hashes. Miners are paid a certain amount of cryptocurrency in exchange for creating hashes and verifying transactions on the blockchain.
In the early days, only early cryptocurrency enthusiasts bought the hardware and transformed their computers to mine more cryptocurrency effectively. With rising values for cryptocurrency, though, more and more people want to get in on the high profits. Today, crypto mining is a massive operation, with large warehouses of computers turning profits by the minute. Today, it’s no longer lucrative to buy all the equipment and energy needed to mine yourself. Investing in a good mining operation, however, is a quick way to earn money.
Green Mining With Influence Mine ICO
If you’re looking for a mining operation to turn a quick profit, look for the US-based company called Influence Mine Cryptocurrency. They’re bringing high-end mining technology to the United States and helping to shift the entire mining industry to an eco-friendly alternative to the fossil fuels used for almost all crypto mining. Currently, Bitcoin mining alone uses the equivalent of over 13 million barrels of oil worth of energy annually. More than 60% of crypto mining is done in massive Chinese warehouses powered by coal energy. Buying into a company like Influence Mine is not only a way to turn a quick profit on crypto mining, it’s a vote with your money for a shift in mining practices.
Cryptocurrency is More than a Cash Cow
People invest in digital currencies for more than just returns on investments. The whole foundation of cryptocurrency stems from the premise of decentralization. Cryptocurrencies like Bitcoin and Ethereum run on a blockchain, which functions like a public ledger of every transaction, so that anyone can peek inside and verify everything is correct. This means no bank or middleman is needed, and the ledger is spread across the entire world, meaning it can’t be shut down or bottlenecked.
What if we had currencies that ran on developer-coded autonomous scripts to send money anywhere? What if fees were minimal, and cut out the need for escrow services? With no more middlemen and transparency about where money goes, worldwide trading would never be the same.
Beyond the technological advances cryptography is bringing to digital currency are the greater implications for unseen advances. The Ethereum network, for example, is more than just a currency. It’s also a platform for smart contracts carried out by the blockchain. Imagine buying a house on Ethereum. It’s just one contract and you’re done, rather than contracts hundreds of pages long and months-long waiting periods.
Beginning Advice for Cryptocurrency Investors
We invest money first and foremost to make a profit and to support ideas we love. If you want to get into crypto investments, here are three big things to keep in mind. First, as for any type of investment, never invest more than you’re willing to lose. Second, be prepared for a roller coaster ride as your coins gain and lose value on a daily basis. It’s best to pick cryptocurrency you believe in long-term and hold on for the long term, so make sure you can stomach the ride there. Finally, do your research on any coin offering, mining company, or investment. Dozens of initial coin offerings (ICOs) and crypto-related businesses are popping up every day, and you need to be able to sort the good ones from the dead ends.
What’s going on in Crypto?
Bitcoin isn’t the only currency building a massive presence in the market. Ethereum, Bitcoin Cash, and Litecoin have also been soaring over the last few months, as investors buy into these and smaller cryptocurrencies.
Right now, Bitcoin can only handle a limited number of trades per second, though developers are working on increasing the limits soon. Cryptocurrency has worldwide uses but it needs to be able to handle more transactions at a faster rate in order to compete with financial services like Visa, Mastercard, and PayPal. Cryptocurrency is going to surge in value when this happens.
Make Your Move Wisely
Invest wisely by starting your cryptocurrency journey with a good primer. Check the charts on coinmarketcap.com and gdax.com, look for crypto news on blogs and meet up group opportunities. With knowledge behind your decisions, you’ll be ready for the right opportunity, whether it’s buying an altcoin when it’s low, getting in on an ICO, or investing in a mining operation.