Want to buy Cryptocurrency in 2021? Well, who does not want to? Given the times we are living in. Cryptocurrencies have changed the way we look at our finances. Our whole world is slowly going digital then why should our money stop from going digital.
The mainstream media has been covering news on Cryptocurrencies extensively in 2021. Since you have spent your precious time searching for my blog, chances are you really are planning to buy Cryptocurrency to get the answer of should you buy Cryptocurrency.
But you better hold your horses for now, as the Crypto world can be just like the Wild West. So I would suggest you read my article to the end before buying cryptocurrencies. Through this article, I will be telling you all the different kinds of Cryptocurrencies and which one is the best among the lot. This article is going to be everything you have been looking for to date.
So, without wasting any further time, let us first take a look at the different types of Cryptocurrencies.
Different Types Of Cryptocurrencies
If you do not know what Cryptocurrencies actually are. Let me bring you up to speed. Cryptocurrencies are basically cryptographic digital currencies that are used for making payments, investing, and trading. In some parts of the world, it is also considered an asset. There are mainly six most popular Cryptocurrencies. Down below is a chart of the seven most popular Cryptocurrencies, along with their market value.
Cryptocurrencies Market Capital Value
|Binance Coin (BNB)||$13,066,020,483|
|Lite Coin (LTC)||$13,066,020,483|
What Cryptocurrency should you buy?
As you have seen above, Bitcoin is the Cryptocurrency with the highest market capital value and sits on the top of the Crypto world like a king! So you should definitely buy Bitcoin. The noise that Bitcoins have been making since their inception way back in 2009 has been quite hard to ignore both for the media and the Government.
Bitcoins was founded by a Japanese person called Satoshi Nakamoto. However, some people believe that Satoshi Nakamoto is just an alias and the real people inventing Bitcoins were a bunch of American programmers.
When Bitcoin was first launched, the value of Bitcoin was $0.0008, and now as I am writing this article, the value of Bitcoins has reached an all-time high of a whopping $47,000.
Financial experts have predicted the price of Bitcoins is soon going to surpass $100k. I hope now you know the answer to should you buy Cryptocurrency. I am a Crypto investor myself, and I have been investing in Bitcoins for the last four years, and I have always found it very lucrative.
But I would also warn you that before buying Bitcoins, you must have a good knowledge of how the Cryptomarket works. If you do not have proper knowledge, then you might end up making huge losses. Also, never go out of your way to invest in Cryptocurrencies like borrowing money and going into debt for buying Bitcoins. Buy them if you have spare capital to invest in.
Why Should You Buy Cryptocurrency?
You should buy Cryptocurrencies, especially Bitcoins, in 2021 for a lot of reasons. Keep reading, and you will know why you should buy Cryptocurrency, Bitcoin in particular.
Elon Musk’s Investment
Elon Musk is the richest man on the planet. He is the CEO and founder of many large business organizations, including SpaceX, Tesla. Often deemed as crazy by these competitors, Elon Musk has always been very vocal about the use of Bitcoins and other Cryptocurrencies.
A few days ago, he changed this Twitter bio and put the symbol of Bitcoin. On February 8th, his company Tesla invested a mind-boggling $1.5 billion on Bitcoins. And he also made it very clear that Tesla would even be taking payments in Bitcoins. This move by Elon Musk had made the prices of Bitcoins surge by 15%; before this, the price of one Bitcoin was lingering in between 30,000 and 35,000.
Now the price of one Bitcoin has reached an all-time high, with the very first time crossing $45,000. The price of one Bitcoin at the time of writing this article is $47,625. This is why should you invest in Bitcoins; the price of Bitcoins is only going to go up from now on since Elon Musk is involved in it. This one of the main reasons why should you buy Cryptocurrency
Bull run amid COVID-19
During the time of COVID-19, when businesses were incurring huge losses, people were losing lives; Bitcoins had a bull run. But it also faced its fair share of hurdles. When the Government first announced the nationwide lockdown, the market of Bitcoins crashed as investors thought the time of Bitcoin was over and also because they needed to convert it to fiat currencies due to the losses they had made in their businesses due to the pandemic.
The investor started to sell their Bitcoins. The prices of Bitcoins hit the bottom rock of $3000. The market crashed, and it seemed as if there was no coming back from the deep pit. But everything changed for the better when the big whales held on to their Bitcoins and started buying more Bitcoins as the prices of Bitcoins were already low. Soon the other investors joined the party, and they all started buying more and more
Bitcoins. This generated a bull market, and since then, Bitcoins have not looked behind. The price of Bitcoins since then was above $30k for most parts. This is another reason why should you buy Cryptocurrency.
There you go. I have now given you two major reasons to invest in Bitcoins. I hope you have found this article informative, and I also hope you will be able to make a clear decision of why should you buy Cryptocurrency.