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Cryptocurrencies can represent an extremely profitable investment option for many people. In fact, at the beginning of their development, when they were still unknown, many investors were able to buy assets that a few years later have grown more than 1000%. They are born as decentralised currencies that facilitate payments through a network called blockchain.
Just think of Bitcoins, which had an approximate €1000 value in 2017 and now they’re worth more than €30,000. As a result of this price spike, that has affected many other digital currencies, people are beginning to wonder whether they are still a viable investment option.
A good news is that the market is full of these assets, so it is still possible to invest in 2021, but it’s better to keep in mind the high risk involved in order to avoid nasty surprises. The cryptocurrency market is particularly volatile and prices may change for no apparent reason; nevertheless, investing money in virtual currencies is not like gambling, as there are other sites such as www.spikeslot.com for that. Prices of digital currencies fluctuates according to economic, political and social factors; therefore they are not the result of pure chance.
Anyone planning to buy cryptocurrencies should first understand why a certain currency is valuable. Features such as anonymity, privacy, security and speed guaranteed by some cryptocurrency blockchains determines its popularity. The more a crypto is used, the greater its value will be. For example, in Venezuela due to the national currency heavy, many residents have moved their funds to cryptocurrencies such as Bitcoin or Ethereum. This is why during the period between March and May 2020, Venezuela saw a spike in the cryptocurrency market while the rest of the world saw the market plummet.
What are best digital currencies to invest in?
Once you understand the definition of cryptocurrency and, in general, why the value can fluctuate over time, you can start thinking about the ones you want to invest in. Typically, people new to cryptocurrencies might consider investing a huge amount of funds on Bitcoin or Ethereum hoping that their value will rise again. In fact experts say that it in these currencies life cycle new incredible peaks can occur sooner or later. But there are also less expensive cryptos that have an higher potential for the future.
For example, an undervalued digital currency that you could invest in is Binance. The Binance service offers a proprietary electronic currency which has already been adopted by several customers. The Binance key feature is its stability shown in during times of crisis as well. For this reason, it can be used to safeguard funds in case other currencies are having an hard time on the market.
Another relevant option is Zcash: a recently born currency that immediately attracted the finance world. Its best feature are the quickness, secureness and privacy offered by the blockchain. It is also predicted that its value will increase since it’s being adopted by a great number of users worldwide.
