Truth be told, COVID19 lockdown has like never before forced a number of people, institutions and businesses to strongly consider digital alternatives to some of the very essential things they need and use.
From online learning through E-learning platforms like Google Classroom, Zoom, Learning Management Systems etc. to electronic payments through cards, tokens etc. attention has pulled towards digital technologies.
Even brick and mortar stores have had to urgently consider setting up e-commerce websites in order to allow their customers patronize them from wherever they are.
Schools that never had websites are setting up one and installing learning management systems to allow their students learn from home.
In the same vein, a lot of attention is now being paid to digital currencies otherwise known as cryptocurrencies.
This has seen a consistent rise in the value of these currencies as people are rapidly turning to digital payments.
You may therefore think:
With the rapid and enthusiastic move towards digital and the consistent appreciation in the value of digital currencies, should I invest in them?
The truth is yes and here are the reasons.
Cryptocurrencies Are The Future
No matter how you look at it, fiat currencies can’t remain popular for too long.
The future global economy is definitely not going to be tied to the United States Dollar or any other fiat currency.
Countries around the world are no longer comfortable with the United States controlling them with the weapon of the US Dollar.
The only alternative to fiat currency is digital currency because of the fact that it is not tied to any country’s government.
Cryptocurrencies Are Critical To The 4th Industrial Revolution
Cryptographic technology upon which cryptocurrencies are based is a critical component of the fourth industrial revolution.
As the global community speeds up the adoption of 4th industrial revolution technologies, cryptographic technology can’t be left behind.
The speed and effortlessness associated with payments using cryptocurrencies is unparalleled and definitely matches the rapid and disruptive nature of the fourth industrial revolution era.
In fact, the fourth industrial revolution (4IR) can never thrive on fiat currency.
Therefore, given that 4IR is here to stay and is indeed where the global community is gravitating towards, investing in 4IR technology such as cryptocurrencies is definitely smart.
Cryptocurrencies Are More Valuable Than Fiat Currencies
Bitcoin is nearing $10,000 in value. That’s at least 8,000 times more valuable than the world’s most valuable fiat currency.
Four years ago, bitcoin was less than $1,000 in value. What a meteoric appreciation in value!
The truth is that no fiat currency matches the value of cryptocurrencies.
Now, with the COVID19 pandemic further exposing the weakness of fiat currencies and turning more attention to digital technologies, the value of cryptocurrencies can only get higher.
Cryptocurrencies Are Far More Difficult To Lose To Theft
Cryptocurrencies are based on blockchain technology which is also one of the components of the fourth industrial revolution.
This makes it immune to unauthorized deductions and theft associated with fiat currencies.
The high grade security infrastructure present in blockchain technology makes masking of unauthorized transactions nearly impossible.
Cryptocurrencies Are Very Easily Interchangeable
You can easily convert cryptocurrencies to fiat currencies which you can use for your everyday financial activities.
You can easily, safely and securely buy and sell you cryptocurrencies on Naira4Dollar.
So you enjoy the advantage of having your wealth denominated in a stable currency (cryptocurrency) while at the same time, you could easily and effortlessly convert it to fiat currencies.
Are There Reasons Why Investing In Cryptocurrencies Might Not Be A Smart Idea For You?
Absolutely! There are reasons why you might want to reconsider investing in cryptocurrencies. But this will be covered in the next article.
Also, in the next article, I will show you some of the best ways of investing in cryptocurrencies especially if you’re new to blockchain and cryptocurrencies.
Watch out for the next article.
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