Why Should You Consider Getting Into Crypto?

 


To start, cryptocurrency is the currency of the future. Due to the security features and problem-solving goals, crypto is gaining a lot of steam. Currently, companies are beginning to adopt crypto and accept them as a form of payment, which is huge. The greater the adoption, the more use-cases and longevity of crypto. Even though some companies are beginning to adopt it, millions of people and companies still don’t understand the true value and it will take some time before the world starts using it as a primary currency.


One major reason to begin investing in crypto is due to decentralization and having complete control of your assets. Now let’s make one thing clear, not every cryptocurrency has decentralization in mind and many assets are much more centralized than others. However, decentralization is important for the future of crypto. So what is decentralization exactly? The goal of decentralization is to stay clear from corporate and government influence, meaning that they do not have control over your assets and your personal details.


Know Your Customer, also called KYC for short, refers to the verification process that individuals go through to verify identity and get full user details. It’s like going to the bank and opening an account, they require pretty much every single detail about you, which can hinder your privacy and provide security threats. This is where certain crypto projects step in and try to become decentralized, avoiding KYC and not requiring all your life details. So basically, decentralization does not have a centralized-entity influencing every aspect of the token and instead, the transfer of control is shifted to a distributed network.


Another major reason to get started with crypto is due to centralized inflation. If you haven’t heard of inflation, what this means is the decline in purchasing power of a given currency, such as USD, CAD, or Euros. As inflation increases, goods/service price increases, and the said currency buys less than before. What causes inflation and do you expect this to happen? Of course it’s going to happen! Now let’s go over how it occurs. An increase in monetary supply, meaning more money is being produced by the government and being handed out (reducing the overall value), or loaning money to banks. It’s an inverse relationship – as money supply increases, purchasing power decreases. Now with crypto, tokens usually have a set max supply, meaning that there is a cap on the amount of coins that will ever exist in the ecosystem. See why this is important and beneficial?


Let’s do some quick hitters to sum up why you should start investing in crypto:

  • The currency of the future
  • Immutable transactions once on the blockchain
  • Fiat has unlimited supply - crypto usually has a predictable supply
  • Safely send crypto/payments over a secured peer-to-peer network
  • Largely unregulated
  • Increased security features
  • Speed of transactions happen usually within minutes
  • Bitcoin holds a store value like gold
  • Crypto developers are working on solving real world problems
  • Mass adoption is on the rise, but a ways to go (better to get in early)
  • Decentralization and privacy
  • Prevent government and central influence
  • Avoid severe market inflation like current centralized currencies due to max supply
  • Have full control of your assets and your future
  • The list goes on

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