“Cryptocurrency” has been the buzzword we have been hearing for the last few years. However, it’s still something that is looked at with caution. It basically involves speculating on whether your chosen market will rise or fall. But of course, it comes with its own risks, just like any other investment options with potentially high returns.
Jayde Duncan, who is the founder of n and a cryptocurrency coach for the last four years, has been training masses to create generational wealth using cryptocurrency. She discusses the benefits of crypto trading to help people understand how cryptocurrency can help them improve their portfolio.
Investing in cryptocurrencies can be way more profitable compared to any other traditional form of investment in the market. This is mainly because massive shifts in prices are generally seen on cryptos within short periods.
The volatility of cryptocurrencies is what makes them so exciting. However, as a rule of thumb, investors are advised to only invest what they can afford and are willing to risk. Make sure that you have done your market research well before investing and developed a risk management strategy.
Cryptocurrency gives you the freedom to spread your investments across different areas. As per research, every portfolio must be at least 6% crypto, which is the minimum recommended value for reaping the benefits of digital assets and their growth rates. This percentage can also go as high as the investor wants.
Especially during the pandemic, while traditional stocks struggled to make profits and heavy inflation hit the economy, cryptocurrencies were thriving.
Ever since the pandemic, cryptocurrencies have been highly accepted and adapted worldwide. Some of the world’s most prestigious financial institutions and global banks have started adapting cryptocurrencies and offering them as products.
Moreover, payment processing giants such as PayPal, Mastercard, Visa, etc have announced that they will soon start allowing clients and users to buy, sell and hold cryptocurrencies using their products or directly on their platforms.
This means that the future sees a great potential for cryptocurrencies to multiply in usage. Investors can now do various transactions now including booking a flight, making a purchase, etc.
Cryptocurrency uses a technology called blockchain where it’s stored. It is tamper-proof and cannot be altered without the knowledge of all those involved, and one that is clear of human error.
Cryptocurrency use cryptography to write on the blockchain and are build on a decentralized network. This actually makes them a very secure asset. Additionally, the transactions happening with cryptocurrencies remain anonymous for enhanced safety. Another major benefit to note that cryptocurrency is free of scrutiny from a government or a regulatory authority. It doesn’t have fees and third-party commissions.
Jayde aims to create more awareness around cryptocurrency and money mindset to as many people as she can to help them rise above living an average lifestyle. She works at Morgan State University and also runs a youtube channel where she makes videos entirely dedicated to this topic.
Jayde explains the nitty-gritty of cryptocurrency in her ebook “Crypto-trading”. It’s a complete guide for anyone looking to start investing in crypto and understand it.