There is a reason why massive amounts of money start to flow back into cryptocurrency. There’s a reason that within the last six months we have seen Bitcoin outperform both the s &p and the NASDAQ. And really Bitcoin and gold are performing well in 2020. And there is a reason that certain altcoins are priming themselves right now to potentially do very well in the next one to three years.
Investing any amount into cryptocurrency comes with risk. If I had a thousand bucks to invest the first 500 to 700 of that 1 000 immediately would go right into Bitcoin. It may not be the fastest.
However, it is the most censorship-resistant. It is the most decentralized. And ask yourself why in the last six months specifically in 2020 have we seen tech billionaires macro investors and some of the most respected hedge fund managers come out in support of Bitcoin?
What do they know that we don’t? Well, one thing that we do know is that these investors have made their career by spotting trends and investing in trends. So there’s something here with Bitcoin. But why does Bitcoin have value? For the first time in human history, we have what’s known as digital scarcity.
No single government controls it. The network has a global distribution and nobody can print more of it. There will only ever be 21 million Bitcoin ever. That’s why I’d immediately invest in Bitcoin. Especially since US dollars that are sitting in my bank account are only getting less valuable. The longer they sit there the less value they have. Fed has made it very clear they will keep inflating the price, keep printing money.
Where Can You Purchase Crypto?
Switchere.com has the answer. If you’d like to buy crypto with your credit or debit card, the easiest way to do it is to check Switcher. At Switchere.com, you can exchange crypto in a fast, secure, and easy way. On their site, you just need to use a handy crypto converter that will instantly show you the amount of cryptocurrency that you are going to get. You can pay with your Visa or Mastercard prepaid card with the lowest fee.
You need to have your wallet before making a purchase on their website. Then you get through a quick registration and id verification via your email. Using your card or any other method available on the sites you can buy or purchase the needed crypto and convert your cash (euro or USD dollar balance) without big fees online. Switchere.com is the best place to buy cryptocurrency with a credit card.
Make an instant pay with a crypto exchange credit card by hitting the send button and get the coins straight into your wallet est.
I Would also Buy Altcoins
Altcoins have potential incredible rewards. I would use or send the next 200 bucks immediately to get Ethereum. Ethereum launched in 2015. It’s open-sourced. It’s a blockchain. You can use it anonymously. It’s a software platform. But while Bitcoin is fulfilling the use case of money Ethereum allows smart contracts and decentralized applications aka Dapps to be built on top of it.
While Bitcoin allows you to be your own bank, DeFi allows you to have your own banking type services like lending, borrowing. And if you’re asking does Ethereum have value?
The answer is yes. It’s not the same value that Bitcoin has. But the value is that you can build these marketplaces, these stable coins, these lending platforms, these tokens without permission, without needing to rely on any third party.
I would avoid XRP. I don’t fundamentally believe in them. It doesn’t mean I don’t own a bag of Litecoin from back in the day.
But if I was investing in cryptocurrency today for the first time the value proposition of these altcoins may be that they’re faster and cheaper but they are more centralized meaning that they are less censorship-resistant. We have one shot ofseparating money from the state.
Having said that, it doesn’t mean that you can’t make money on them. If we look at Litecoin stellar doge we can even add XRP in there. Over the years they are oscillators meaning that generally when Bitcoin pumps they pump, when Bitcoin dips they dip.
With My Final Two Hundred Dollars, I Would Focus on DeFi
That’s because the narrative right now, the hype with coins we’re seeing, the most money flow into are DeFi. So with DeFi you can either pick the coins, built on the platforms, or you can pick some platform coins themselves.
Ethereum right now has a head start. We’re seeing the developers flow to Ethereum and usually, we see the money flow to where the developers flow.
And until Ethereum scales, we’re seeing other platform coins try and take market share. For example, supply chain management cryptocurrencies. Gaming coins are doing very well since 2019 and generally speaking I’m sure they’ll do fine.
But what really excites me are platform coins and coins that fit this DeFi narrative.
For example, coins that have already shown strength this year. Compound is a lending coin. It’s an open-sourced market protocol on Ethereum that lets users lend or borrow assets against collateral. Other coins like Synthetix and Kyber showing a lot of strength in 2020.
Generally starting my cryptocurrency journey if I was to do it today that five to seven hundred dollars per thousand I would slowly try and accumulate one Bitcoin that would be my first goal. That’s why the majority of the money goes into Bitcoin. It’d be nice to have 32 Ethereum because then that is the number they say you could potentially stake.