Is cryptocurrency a good way to make money?

Early investors in cryptocurrencies such as bitcoin are likely to have profited: a £310 investment in a bitcoin in April 2016 would be worth almost £24,000 six years later.
Bitcoin’s price rose through 2021, peaking at slightly under $67,000 in November, then plummeting to $29,000 (£23,700) in May 2022.
While it is more than £310 for one bitcoin, it demonstrates how unpredictable even the most popular cryptocurrency can be. Bitcoin’s price has been declining in 2022, as part of a larger cryptocurrency sell-off, as investors avoid riskier assets in the face of increasing inflation and interest rates.
Some of the largest cryptocurrency exchanges in the world are planning to float on traditional stock markets. Coinbase*, based in San Francisco, launched on the Nasdaq stock exchange in April 2021 with a market capitalization of more than $100 billion (£70 billion), more than double that of Barclays Bank.
Coinbase’s worth has decreased to $15 billion as of May 16, 2022.
New cryptocurrencies, the majority of which use blockchain technology, are constantly being released. Some are designed to replace existing currencies like the pound or the dollar, while others are used to develop new forms of financial applications or to exchange value between other digital currencies.
So, if you’re thinking about investing in digital assets, take a hard look at each project to evaluate how it may turn out in the future.
Are you purchasing a completely useless digital currency or something that provides novel answers to current financial issues? If you’re new to digital assets, check out our beginner’s guide to cryptocurrency trading.

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