Cryptocurrency (CC) seems to be the trending word these days. Anyone who has looked into the mysterious world of digital currency can tell you that many of the currencies out there have risen at an extremely rapid pace this year. Bitcoin being the most notable and acknowledged one. At the start of 2017, the cost for a Bitcoin was roughly $900 (USD). Today, the cost of a bitcoin is roughly $17,317 (USD) as I write this. That is a staggering 1,824.11% Increase year to date (YTD). As I read the numerous daily reports on this unsystematic currency, I realize that there truly is no way of knowing what will happen to this currency at any given moment. People try to asses when the peaks will hit and make predictions about when it will fall. The truth of the matter is, almost all of the predictions about bitcoin are simply just a guess and because Bitcoin is so sporadic, there is truly no way to tell what the future holds for it. One thing I can tell you with certainty, if you are looking to make an investment into Cryptocurrency, your chance to invest in bitcoin has probably passed. However, that does not mean your opportunities for investing in crypto currency are gone. There are many different types of Cryptocurrencies that are still available to invest that are still affordable options. Litecoin and Ethereum are 2 other CC’s that are available on a few Cryptocurrency exchange platforms, such as “Coinbase.”
Litecoin has taken a dramatic leap forward in growth this year. At the beginning of 2017, The cost of a Litecoin was around $4 (USD) a coin. At the time I am writing this, The cost of a Litecoin is about $350 (USD). That is a whopping 8650% increase Year to Date (YTD). That means, if you invested $100 (USD) in Litecoin back in January, that would amount to 40 Litecoin’s, which are now worth $350 (USD) per coin. That brings your net profit to $13,900 (USD). Ethereum has also risen a massive 7550% from roughly $8 (USD) to around $612 (USD) as this is written. So as you can see, there is still potential to invest and make money in the Cryptocurrency world.
As a warning: Be careful how you invest your money into Cryptocurrency (CC). There are still a lot of grey areas when it comes to CC’s. Anything can happen so you don’t want to invest more than you are able to. I would definitely advise anyone looking to invest to do so wisely. Also, using exchange services such as Coinbase can be a bit complicated too. As prices for CC’s rise, trading exchanges become overwhelmed with the amount of transactions, which cause the systems to slow down or even crash, making buying and selling CC’s difficult or impossible for a period of time. This typically occurs at the highest point of trading. So make sure you pick a good time to make your trades!