Cryptocurrency is a very good business especially in this recent years cryptocurrency investment has gain recognition and popularity world wide and many investors are making it a major source of income.
Few years ago many investors became millionaires and billionaires when cryptocurrency hit is ever high price many became a house owner and land owners with cryptocurrency investment but there are so many things attached to crypto investment depending on your choice of investment or trading strategies some investors believe in the long term investment and some believe in the short term investment strategy some prefer the day trading strategy and some the tokenized aspect of cryptocurrency investment,
Despite the sweet side of cryptocurrency there is always a bitter side of it too
One important thing all crypto investors must always remember is the volatility nature of crypto investment no one can be so sure of what will happen in the next hour or minutes due to this situation cryptocurrency Investors should expect any unforseen circumstances it can be bearish this minutes and it may be bull the next minute with this situation it is advisable that all cryptocurrency investors should take time to think about cryptocurrency before venturing into it also investors must understand the pros and cons of the business crypto business might look very lucrative but at the same time it is very dangerous when you don't understand how it works ,
Is it advisable to make cryptocurrency a major job or a major source of income?
This is another important aspect that involves technicality,
However it is a matter of choice to make cryptocurrency investment as a major job or a major source of income but as for me i think it is better to make it a side hustle due to the volatility nature of the business, for example cryptocurrency business is experiencing a dip at this point in time and every Investors are struggling with the situation let's assume cryptocurrency is your only source of income such investor might be facing a hard time with the situation of the market and when it becomes Dipper the situation become worse so personally i prefer cryptocurrency as a back up investment plan for a futuristic Long term investment and not a major source of income or job
Cryptocurrency Investment involves both risk and benefits
Talking of the risk
- Volatility nature crypto can go up at anytime and it can drop at any time and that is the major risk attached to crypto
- Regulation and uncertainties,government regulations always affect cryptocurrency and in this case crypto are not allowed in some countries,
- Security and scam so many scam activities are being carried out in the crypto space especially when it comes to trading you never can tell you might be trading with a scammer not all crypto platforms are well secured
- Technicality aa an investor you have to put your safety first by making sure you keys are well secured and kept in a safe place when you lose your private key, your hard drive crashes, or a virus corrupts your wallet, you may lose your funds.
Benefits of cryptocurrency
HIGH RETURN POTENTIAL
cryptocurrencies can be highly volatile but they also have high yield returns from past experience ,TRANSPARENCY
Cryptocurrencies operate on blockchain technology that is fully public and immutable, meaning it cannot be changed or altered and it is decentralizedINDEPENDENCE
Cryptocurrencies is designed to operate without the control of a single person, government or any centralized body like central bank it is decentralizedLOWER FEES & FASTER TIME
Crypto transactions tend to have lower fees and faster transfer times than traditional bank transactions also with an outrageous charges ,
Conclusion
It is important to understand how cryptocurrency works before investing into it,
Get better knowledge reserch and always have a back up plan and invest what you can afford to loose,
Thanks for visiting my blog @tobywalter cares 💞💕💕💕💞💕💞💕💞💕💞💕
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I love this part, that's why it's important to know that before one goes into cryptocurrency Investment, one should set on mind on the long time aspect of it. There's no cunning way to make wealth in cryptocurrency Investment.
That's very correct mate @peterale very insightful comment
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BEER.I think at this moment in time and the current nature of the market, seeing it as a side hustle is a better choice. That way you would be able to accumulate more tokens and hold for the long term.
You are very correct mate @takhar
I like crypto currency because it's has an independency features, where it is not controls by anyone, nice post.
Thanks friend @johnbenn
You are welcome brother
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