Cryptocurrencies Will Always Be Volatile

January 19, 2018 by Adrian Thorpe

CryptocurrenciesThe All-In-One Cryptocurrency

I am convinced that at some point in the future a banking institution or even government will step forward and will launch what could best be described as an all-in-one type of cryptocurrency that if planned correctly could wipe the floor with all other cryptocurrencies.

If they offered one that guarantees users complete anonymity, was extremely low cost to buy and sell, gave users some form of protection and become a readily accepted cryptocurrency then people would buy into it and would be much more prepared to use it.

The people who would use it I suspect in the early days are those people who have been willing to invest in digital assets of any type but have been put off doing so as they feel intimidated or even overwhelmed when trying to research cryptocurrencies and get their head around how they work.

It wouldn’t necessarily have to be a bank or Government thinking about it, for it one of the main players in the web wallet industries really put their time and effort into designing a digital currency they do of course already have a huge database of customers they could sell it to.

Until that day arrives though, everyone involved in the cryptocurrency environment is going to always be putting their money at risk when they do purchase any unit of any cryptocurrency, and there will always be tales of people making or losing huge amounts each week going forward!

Don’t Get Stung By Investment Schemes That Are Not Clear Cut

As proven by BitConnect, there are always a never ending supply of people who can be taken in by so called get rich quick schemes, and there is no doubt in my mind that going forward we are likely to see many additional types of cryptocurrency investment schemes appearing online.

Due to the current uncertainty surrounding cryptocurrencies in regards to whether they are a long or short term investment, if they are an investment with any merit or whether they are going to fade or die away or be here forever, many fraudsters are cashing in on that uncertainty by putting together weird and unusual investment schemes.

The general rule of thumb for anyone who is thinking of investing their hard earned money should always be to fully research what the investment is, who is behind it and also be aware of the risks at all times.

As understanding cryptocurrencies, the blockchain and even mining for cryptocurrencies can often confuse most people, and those who are inclined to jump on the bandwagon can be like lambs to the slaughter online!

The only way you are going to be able to decide whether you should invest your money in stocks and shares, stick those funds in a savings account at your local bank or dabble in cryptocurrencies is by you spending hours comparing how each investment works, and if you do not understand any aspect of doing so and aren’t prepared to learn about them, then never be tempted to invest!