If you decide to trade in cryptocurrency a cryptocurrency PR firm will be able to help to launch and manage it and to raise its profile. But is it a good move?
As the world become more obsessed and based around the internet, whether that be in terms of advertising, socializing or networking then it is no surprise that finances may start to head this way too. So, cryptocurrency is just that a global, digital currency that has made millions for some people already and it has piqued the interest of many.
The wealth of the bitcoin is based on the same basis as all currency the less of it there is the more in demand and therefore the more expensive it becomes. Add to this the fact that cryptocurrency is very useful for those who trade online then this adds to the interest. You can check how many bitcoins are in circulation and this is one of their advantageous points. Trade can be done from all around the world and it is censorship free, it doesn’t care if you have been made bankrupt or have an overdraft that needs paying off! Therefore, you can see with these positive attributes that it may be worth your investment.
So what will I pay, you may ask well, we don’t know. You will pay whatever you are willing to pay and whatever someone will sell you the cryptocurrency for. As for the right time to buy and which one to buy this can take hours of studying and you still may not strike lucky, this is where the dangerous side of cryptocurrency comes in to play. You need to look at cryptocurrency from all across the world and you will need to know about politics and what is happening in those countries which may or may not affect the success of the cryptocurrency.
Another danger regarding cryptocurrency, compared to a bank, is that you have to ensure that it is kept secure. It isn’t kept in underground vaults with time locked devices. It is held on your personal computer or even cell phone. Therefore hackers, thieves and scammers may target you for it and again as they are a computerised currency they are much harder to find and have returned. Again, a bank would offer you security if your cash was stolen.
All in all, as with any investment ,you have to weigh up all of the areas. It would be classed as a high-risk investment and this means that it is one that might come with dangers but at the same time does have the potential for high returns. Some people who invested in cryptocurrency and especially bitcoin in the early days made enough money over a couple of years to pay off their mortgage and now have a fully paid for house at the age of 22. Again as with all investments there will be a some you win some you lose scenario and you should only ever invest what you can afford to lose and if you make money it is wise to put some elsewhere and keep dabbling in cryptocurrency with the rest.