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Are Cryptos Still a Good Investment?

Are Cryptos Still a Good Investment?

Cryptocurrencies remain popular despite the challenges they faced in the previous year. They have demonstrated resilience and are not impacted by inflation, making them a popular investment option. If you’re thinking about entering the world of cryptos, here’s why this is the best investment decision you can make in 2024.

1. Decentralisation

Cryptocurrencies combat the monopoly of FIAT currencies as no government or organisation can determine the value of the coin or flow. Take for example Bitcoin which operates as a peer-to-peer network without a central authority and is preferred among investors for being invulnerable to censorship.

2. Unbanking

14 billion people around the globe do not have access to a bank account but they do have cell phones. Cryptocurrencies have been created to bank the unbanked and are likely to reach all the unbanked and banked people eventually, making them the currency of the future. The use of crypto has grown considerably in countries like Argentina and Venezuela. Financially borderless and inclusive cryptos are changing wealth management by reducing inflation risks and facilitating seamless cross-border transfers.

3. Return Potential

The majority of cryptocurrency investments yield a high return rate despite the risks of its volatile market conditions. On 18 March 2024, Bitcoin was trading at $68,497 and on 14 March 2024, it reached $73,750, subsequently surpassing its previous peak. With this surge, its market capitalisation reached $1.44 trillion which consequently led to it contributing to the overall crypto market capitalisation of $2.77 trillion.

4. Inflation Hedge

The use of cryptocurrencies like Bitcoin can help mitigate the inflation caused by traditional FIAT currencies. As cryptocurrencies have a limited supply and cannot be printed, their value cannot be diluted in the same way as FIAT currencies. As a result, cryptocurrencies are attractive investments for those seeking to protect themselves from inflationary pressures.

5. Transaction Speed

The use of digital currencies also facilitates instant transactions that can be executed seamlessly across borders and are usually less expensive. Additionally, cryptocurrencies do not operate with intermediaries so the transactions are near-instantaneous. Meanhile, traditional bank transfers may take days to complete especially when multiple currencies and intermediary banks are involved.

6. Diversity

Crypto offers diversification since its prices move independently from those of other asset classes as proven by its past performance. As such, long-term investing strategies can be balanced by adding a small percentage of cryptocurrency to them.

7. Security

The security of cryptocurrency networks is ensured by cryptography, hence the name “cryptocurrency”. Blockchain transaction records are distributed across a network of computers so there is no single point of failure. Attacking the network and attempting to modify the blockchain would require enough computing power to confirm multiple blocks before the rest of the network can verify the ledger’s accuracy.

As a result, investments are safe unless owners give someone else access to their crypto wallets or lose their private keys and thus cannot recover the funds inside them. Instances of hacked cryptocurrency accounts are usually tied to poor security at a centralised exchange.

An Investment for Renegades

Historically, the major crypto tokens such as Bitcoin and Ethereum have been relatively stable while their alternatives or “altcoins” carry much more risk. Crypto assets have the potential to be a good investment but taking the necessary precautions and being aware of the risks is essential.

Investing in cryptocurrency can be an enticing prospect if you are enjoying the thrill of gambling. Cryptocurrencies create opportunities for quick wins which is what makes them appealing to risk-takers who thrive on adrenaline. At EmuCasino, we accept cryptocurrency payments for all those who want faster, safer and investment-oriented transactions.

Disclaimer: Any information herein is not intended to be nor does it constitute financial, legal, investment or any other kind of advice. Before you make any decision or take any action regarding your finances, you should consult a qualified Financial Advisor.

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