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As the price for digital currency has risen recently, reaching its highest level, we have also seen it going to the lower points. The recent few days talk about the latter, the story of earlier years. The prices are going down though, looking at the larger picture, things will change in the coming days. It has been the usual story of digital currencies, mainly about Bitcoin. The price of the coin last year seemed around 70K USD in November, but on Jan 22, the price went down in a big way. Bitcoin tends to go up and then down, followed by the same story. Yet, experts feel that digital currency is a healthy proposition for investment. However, you have the following three reasons for investing in Crypto, have a look. If you are interested in bitcoin trading check the best way to choose an android bitcoin app.
1) Cryptocurrency has a real-world application
We have seen a good growth of digital currency price hikes recently, and it is more dependent upon speculation. Digital currency is known to have no actual application to people, but investors feel the other way round. They know it has great importance and potential. One can find the critical difference in digital currencies, including BTC and ETH, coming along with the offer of some actual work applications. Bitcoin is now becoming a popularly accepted coin, and it is coming like a payment. We have recently seen the headlines becoming the legal tender in countries like El Salvador.
On the other hand, ETH is gaining some traction as it is also acting the same with the technology called Blockchain. We now see them coming along with DeFi and NFTs. The tokens came up in a big way in 2021, and they will remain on the higher side in the current year. ETH is also going to have its tokens this year. Similarly, we have seen DeFi exploding over the recent past, and at the moment, we have around 94 B USD parked in all these projects coming along with 31 B USD within a year or so. ETH also has a considerable amount of projects that would expand significantly. The more you see ETH growing, the better is the result.
2) Major Digital Currencies are going too Strong
Many digital currencies are not developed for several days, and some of the best players in the market come along with something healthy option to sort out the issues like holding them before. For example, digital coins are looked upon for consuming too much energy and hampering the ill impact of the same. Moreover, the transaction speed is going too slow than the conventional payment methods, making things difficult. However, many more digital currencies are now working with too many updates to sort out these issues. For example, ETH is now coming up with ETH 2.0. It will only be going to make things quick and affordable for use. However, one can find having 99 percent less energy. We can now see some new updates coming along with it. By the end of 2023, things will go to the next level, and it will also boost the transaction speed in a big way.
3) Too Many Clearer Leaders seen in Digital Currency Domain
One of the vital, challenging aspects that can help you invest in the digital coin is with the help of an investment point of view. We know that there are more than 10K of digital coins, and choosing the right one is essential. If you know about the coins, you are among the intelligent investors. However, as we started with 2022, we can now see too many clear and straightforward leaders in this space like ETH, BTC, Solana and Cardano. One can even find Solana trying the option. Many digital coins are not assuring you success, and one can find good strengths that can make people strong and add many more digital coins there.
Despite being risky and volatile, Crypto is getting too much mileage in the market. We now see a good number of people investing in this domain. If you are not among them, the above three reasons give you enough to believe in them.