- On
- By
- Categories: Economy
Cryptocurrencies – An Investment in the Future?
The Emergence of Cryptocurrencies
2009 was a landmark year for cryptocurrencies. Virtually worthless in the early days, its overall value rose and fell over the course of several years; it has been on its way to the top since May 2016, when 1 BitCoin was worth $453. In just one year, its value has exceeded $2,700 and recently topped $8,195! In other words, if you had purchased just 100 of these coins in February 2011 (when they were all worth $1), your account would be burdened with over$8 million today…
Actual uses of cryptocurrencies
In reality they are just a collection of source code, but BitCoins can also pay. Perhaps most interesting for Czech users is the ability to pay for BitCoins at the online store alza.cz. Other BitCoins can also be sold and exchanged. Germany has recently introduced legislation to impose a classical income tax on BitCoins. However, there is still some uncertainty among mainstream Internet traders about the legal conditions for using cryptocurrencies. As such, one of the most notorious cases of BitCoin being used for payments is the infamous DeepWeb. The fact that the payer and payee remain untraceable during payment facilitates the purchase of guns, drugs, or even ordering murder…
However, our society is rapidly adapting, and in 2018, the first official cryptocurrency,named Utility Settlement Coin (USC), being created by a collaboration of six major global banks The first official cryptocurrency, named Utility Settlement Coin (USC), is about to be launched. Thus, cryptocurrencies will certainly find their way into our wallets in the near future.
Investing in cryptocurrencies
As mentioned above, such an investment in BitCoin will certainly pay off in 2011. Even today, many new cryptocurrencies are being created almost daily without exaggeration. To date, more than 700 cryptocurrencies have been registered . However, the value of most of these cryptocurrencies is negligible. But what will it be like in a few years? It is important to consider that investing in cryptocurrencies is a long road with a question mark at the end. When investing on your own without the help of a professional advisor, don\’t rush into anything and take a few days or weeks to research the issues. Waves, for example, looks interesting and is currently worth about $5 per coin.
Still, it is important not to lose sight of the fact that you could lose your invested money at any time!