Do You Own Any Cryptocurrency? [Poll]
A decade ago, most of the general population didn’t understand cryptocurrency, or maybe hadn’t even heard of it. Now, there are countless guides on the internet outlining everything you need to know about cryptocurrency and whether you should invest in it.
With this increased presence, we’re curious: have you invested in any cryptocurrency, or is it something you’re steering clear of for the time being?
Cryptocurrency Rose to Popularity in 2009 With Bitcoin
There are many unique cryptocurrencies today, but Bitcoin was the first. Bitcoin was made available in early 2009 by a computer programmer (or possibly multiple programmers) under the pseudonym Satoshi Nakamoto. The true identity of Bitcoin’s creator has never been verified.
Though it’s one of the original forms of cryptocurrency,Bitcoin is pretty slowcompared to its speedy competitors. Despite this, it’s still the most popular option, especially for people who are a bit confused as tohow cryptocurrency works. Bitcoin is often the “safe” option for beginners, though there arebig risks for crypto investorsno matter which virtual currency you invest in.
There Are Risks, Just Like Any Investment
Among the many risks associated with investing in cryptocurrency, volatility is among the highest. Many people know that stocks are considered high-risk investments because there’s no surefire way to know whether your investment will be profitable. Cryptocurrency is the exact same—if not even riskier because it’s less stable.
On top of cryptocurrency being highly volatile, there’s also a risk of cybertheft or hacking. You have to be extremely careful of phishing attacks, and also be mindful of your digital wallet and its private keys at all times. Some crypto companies offer extra safeguards or offer to house your digital wallet for you, but then you’re trusting thatcrypto company not to get hackedand lose your information and investments.
All that said, there are high risks with any investment that has the potential to pay off as much as cryptocurrency or stocks can. As with any high-risk investment, you shouldn’t invest any money that you can’t afford to lose.
Is There Anything in Your Crypto Wallet?
Have you taken the plunge yet and invested in the intriguing, yet confusing, world of cryptocurrency? Personally, I’ve never purchased any cryptocurrency, but I know a lot of people who have, including my husband. Back in 2015, he invested some money in Bitcoin, Ethereum, and a few other minor cryptocurrencies—and he actually made about $500!
Whether or not I’ll invest in crypto in the future, I don’t know. I imagine that crypto could be a nice addition to an investment portfolio that combines low-risk and high-risk options, but personally, I want to do some more research. What about you? Do you currently have cryptocurrency living in a digital wallet, or are you still considering whether crypto would be a good investment for you?
Do you own any cryptocurrency?
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