Photo: Unsplash
Let’s be honest, not all of us have totally got to grips with the concept of Crypto. Digital currencies – such as Bitcoin – are taking the world by storm. However, it’s difficult for first-time investors to know when they should take the plunge.
Well, put it this way. You haven’t missed the boat yet. In fact, there have been a number of developments in 2022 – across a broad range of crypto services – that make investing in these online coins a risk worth taking…
After a sluggish start to the year, Bitcoin – the most widely-recognised of all cryptocurrencies – is back in business. The value of BTC increased by 10% over the last week, before stabilising at $42 000 on Wednesday.
The surge is healthy sign for investors, and experts are predicting another rally soon – it’s really not too late to join the party.
Some of the best known alternatives to Bitcoin are also enjoying a fruitful month, too. March has been kind to Ethereum, which is seen as the most user-friendly platform for those who also want to invest in NFTs.
According to Forbes, Tether’s value is supposed to be more consistent than other cryptocurrencies, making it a favourite amongst serious investors. Binance, meanwhile, can be used for trading, payment processing or even booking travel arrangements – and at just five years old, it’s seen as a real ‘up and coming candidate’.
There are two other crypto assets that have got tongues wagging at the moment. XRP is expected to experience something of a boom in April, once an investigation into their trading registration practices has been completed. Investors are buying now to get ahead of the curve.
And, speaking of a step into the future, MANA is the official decentralised cryptocurrency of the Metaverse – the new virtual world being created by Mark Zuckerberg and Facebook. The tokens are used for transactions on the platform, and if the Metaverse takes off as expected, this is a currency you’ll be hearing much more about.
The computing power and capacity of blockchain products, like these cryptocurrencies, is set to exceed anything the servers of Microsoft and Amazon can produce. That’s according to the expert behind Motley Fool, and the dedicated crypto service has simplified this concept:
“Blockchain provides enormous bandwidth at a much lower price. That’s why not just the banks but also tech companies are paying attention to crypto. Small investments now might pay off in huge rewards over the next decade or two. “
Motley Fool
Finally, it’s worth noting that almost all UK banks now let you move money between a regulated crypto exchange and your bank account. This shift in tone is an encouraging one for British-based investors, as the fear over digital exchange risks begins to subside.
