Cryptocurrency right now is a crazy ride that favours the bold. By its very nature it is an unregulated market with no oversight, no controls and no rules.
This means there’s huge money to be made, and conversely huge money at risk.
You only really need to look at the six biggest cryptocurrencies (by market cap) to see the
kinds of returns that smart, savvy investors can make. The following are in USD and show the
increase in price from January 1 this year
Bitcoin: USD$963.66 to USD$2663.40 - +%176.38
Ethereum: USD$7.98 to USD$389.64 - +%4782.71
Monero: USD$13.52 to USD$ - +273%
Ripple: USD$0.006523 to USD$0.253409 - +%3784.85
Litecoin: USD$4.33 to USD$29.55 - +%582.45
Dash: USD$11.21 to USD$169.95 - +%1416.06
For a demonstration of cash value, if you'd invested, lets just say USD$500 into each currency at the start of the year you'd be sitting on some massive gains right now as shown below.
| Currency | Invested (USD) | Current Value (USD) |
|---|---|---|
| Bitcoin | 500 | 881.90 |
| Ethereum | 500 | 23913.55 |
| Monero | 500 | 1365.0 |
| Ripple | 500 | 18924.25 |
| Litecoin | 500 | 2912.25 |
| Dash | 500 | 7080.30 |
These kinds of figures may scare off a lot of mainstream investors. However the crypto coummunity consensus is that this is just the beginning, the dawn of a new era.
Of course the risk is large; with such massive gains and potential loss that is a no-brainer. However cryptocurrency is not a standard medium of investment speaking in traditional terms. For those willing to take the punt with an amount set aside
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