Is it too late to invest in Blockchain and Cryptocurrency projects like Bitcoin, Ethereum, and the plethora of Altcoins???
Let me give a few reasons why it’s NOT too late!!!
- We’ll start with the first question: Is it too late to invest in the stock market? No! Can you imagine if people thought it was too late to invest in Amazon, Google, Facebook, or Netflix because their company announced good earnings and their stocks’ prices went up? My personal belief is that the millennial generation and beyond will look at crypto investing the way our parents’ generations look at stocks and bonds. Our generation will still be diversified among all asset classes, but we will be quicker to engage in digital assets that we see emerging around us.
- This is a very new, and complex industry, that many people have no idea exists. Even the majority who have heard of blockchain or crypto don’t truly know how a blockchain functions, its use cases, and present day implementation/adoption. The sector is still young which means there is ample room for growth for the projects with the most utility and UVP. While I am bullish about blockchain technology, I acknowledge the road ahead is uncertain: potential govt/tax regulations, IP/legal disputes, and the fight among blockchains for industry dominance. These are the anticipated growing pains, but as countries are in a global race for technology superiority, there is an incentive for state’s to bolster their grip on blockchain and innovation, rather than clamp down.
- Bitcoin is famous for being the proof-of-concept for blockchain. Nine years ago It showed the world how a distributed ledger works, and in that time not once has the network/blockchain ever been hacked! This amazing feat of technology has helped spawn thousands of new blockchain related tokens and currencies. Blockchain has been around for a long time, but only recently has it really been permeating into public consciousness via financial news/tv, social media, and word of mouth.
- Bitcoin and Ethereum are not the entirety of crypto. If you think you missed out on the two largest coins, I can confidently say you did not. Also, there are dozens of quality projects to choose from, though not all of these projects are legitimate or will have use cases in the future. I personally am not a fan of Bitcoin. I think it’s outdated, slow, and basically a legacy coin. Ethereum can do everything Bitcoin does and more, plus it can do it quicker and cheaper. I prefer projects with the greatest utility so I think Ethereum makes a great investment for a newcomer.
- While it’s not too late, that doesn’t mean you can throw your money into crypto and become rich. Utility is still the most important factor when investing in blockchain, in my opinion. Always do your own research and be very selective when considering investing in blockchain as there are hundreds of redundant blockchains, and even more empty promise “blockchains,” aka scams.
Disclaimer: This blog is for educational purposes only. Do not use any information provided by myself or this blog as professional/financial/legal advice or personal suggestion.