Cryptocurrencies have been on a surging run this year but its gaining more grounds. After Eight years with bad names and initial scam reviews, it has gotten stronger and caught the attention of many investment firms as well as corporate entities like Microsoft.
With traditional ways of transferring money across boarders through banks expensive and quiet frustrating sometimes, cryptocurrencies addresses this issue easily. Wherever you are in the world, you can send and receive money online like the way an email is sent. Take it or leave it, it is happening and works. I have transferred over $25,000 in cryptocurrencies without the need of a bank. Now, you become the bank. No third party interference, no nothing. From sender to receiver.
One interesting thing for you to consider is the ability to convert cryptocurrencies into Fiat. What is Fiat? Fiat is the currency of your country. We have exchanges all over to change your fiat to cryptocurrencies and vice versa. Buying cryptocurrencies is not a big deal at all.
Have you asked how lands become expensive after few years? I am talking about good lands. Especially lands that contains gold? After helping a friend, I couldn’t imagine that acres of land could cost that much. You normally hear these phrases, oh I bought this land cheap and that land cheap. Yet, see how expensive land has become. For instance, it’s almost a headache for an average person to buy good land in Accra without collaboration or partnership. What an asset? Cryptocurrencies work in similar manner.
A 10 acre land you buy for $20,000 this year for e.g., will be worth more than $20,000 in a year or two. Why? Land appreciates, Land Is fixed in supply and you got to find someone who has it and willing to sell, it’s simply a hot commodity. People just buy lands because of this principle. A land owner can’t even predict how much his/her land would appreciate a year or 2 but still keeps it anyway.
Cryptocurrency trends are all but similar to this land comparison. I always use Bitcoin as an example, but let me use another Cryptocurrency called Ethereum to make a case for you. Ethereum is another Cryptocurrency solely into smart contracts. At its launch in August 2015, the price was almost $2.In Feb 2016 it was $5. Feb 2017, $16. Currently, the price of Ethereum is $325.05. That is huge.
Interestingly, as at February 2017 the whole market cap or liquidity or investments in cryptocurrencies was just a little over $15billion. Currently, it sits over $200 Billion. Bitcoin has been with us for 8 years and Ethereum is now 2 years. Bitcoin in 2 years was way cheaper than Ethereum now. Meaning, if I spent $200 to buy ethereum 2 years ago, I would have had let’s say 100 Ethereum. Today, it would have been worth.
$32,505.00. That makes it a growth of 16,252.5% return. Good Land appreciates, but good cryptocurrencies explodes. For us who can’t buy lands expensive, the best option will be to buy good crypto currencies, who knows what will happen in 2 years.
Talking about safety, security and risks. Cryptography alone is a complex algorithm which has been embedded in money now and there are measures to protect your funds.
For an investor, professional, civil servant, businessman looking forward to another good avenue to build a stable land-like investment, this is a good time to Start buying
Cryptocurrencies, don’t be left behind the technology groove happening in the financial space. Position yourself. Not all cryptocurrencies are for you to buy. Mind you, I insisted on good and strong ones else you will find yourself in deep blue sea.
Land has been and a good asset to have, but cryptocurrencies gives another massive alternative and 2017 has been a statement making year for cryptocurrencies.
Cheers.
SOURCE: Paa Kwesi Menz, thebftonline.com