Everyone wants to secure their future, and many look for lucrative investment options, especially when it comes to their retirement. The one option that has made all the buzz is Cryptocurrency. Undoubtedly, investing in Self managed super fund cryptocurrency is risky but can be a great wealth creator and a tool for a diversified portfolio. There is no doubt that Cryptocurrency is a good investment and a great option if you want to gain direct exposure to the demand for digital currency. It is a safer but potentially less lucrative alternative than buying stocks. In this post, we will talk about the pros and cons of investing in Cryptocurrency.
Is Cryptocurrency safe?
Cryptocurrency exchanges are vulnerable to being hacked or banned by various government agencies, though many governments recognise a form of currency. Security breaches have led to sizable losses and storing them is difficult. Also, buying Cryptocurrency through a centralised exchange means you don’t have complete control over your assets. Additionally, there is no guarantee that a crypto project you invest in will succeed. That is the same with other investment options.
Despite all the above risks, cryptocurrencies and the blockchain industry are getting popular and accepted as a payment form in many places. There is a financial infrastructure in place, and individual investors are gradually receiving the tools by which they can buy or invest in stock options. The increasing pace of adoption is a sign that respective companies are seeking to gain direct exposure to Cryptocurrency.
Is crypto a good long-term investment?
Many cryptocurrencies, such as Bitcoin and Ethereum, were built with a long objective that will take time to unfold. While the success of any digital currency is not guaranteed, early investors are rewarded the most when it comes to any form of investment. For any cryptocurrency to succeed, it must be widespread adoption.
Bitcoin as a long-term investment
Bitcoin is by far the most popular Cryptocurrency on the planet, many ace investors famously term it as digital gold, and in the last decade, it has rewarded many investors. Many investors believe that Bitcoin will gain value over the long term because the supply is fixed, unlike the reserves of other currencies. The collection is fewer than 21 million coins, while the government prints the other currencies.
Ethereum as a long-term investment
The other most popular Cryptocurrency next to Bitcoin is Ethereum, which is building a global computing platform that supports many decentralised applications ecosystems. The other reason it is so popular is its open-source nature, making it easy to implement everywhere. The platform uses “smart contracts,” which have significant potential to disrupt massive industries.
As you can see, Cryptocurrency has many opportunities. If you can play your cards right, you will make a fortune in the long run. The only thing is to keep your eyes open and do your research beforehand before getting into the market.
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Disclaimer- This content should not be considered financial advice and is for educational or
informational purposes only.