One of the most prevalent questions in the world of Bitcoin and cryptocurrency is the “Should I?” question. People who are very new to this world of digital investments seek the advice of other more knowledgable veterans to answer this question. It’s actually a pretty harmful question to ask others, and I’ll explain why.
Learn the Basics – Educate Yourself
You should never take the advice of others at face value. It doesn’t matter how expert they are in the world of cryptocurrency; you need to come to conclusions on your own. Therefore, do your research! I include so many different answers to questions in my cryptocurrency FAQ and this can be a great place for you to start your research. However don’t simply trust me; browse other reputable sites. Why don’t you check out the official Bitcoin FAQ for yourself?
But Yes or No, Should I Invest?
Short answer? Absolutely. However you must come to know why you are investing. You have to take a stance and decide whether or not digital currencies represent the future of wealth transfer. You should be able to answer the questions, “Where do I see cryptocurrency in the next 5 years?” and “What does [insert coin name] offer that is an upgrade to Bitcoin?” and “How will society use [coin name] in the future?” and even “Will Bitcoin remain the #1 cryptocurrency in terms of market cap?”
A couple hours of basic research will lead you to the answers of those questions. Please remember there’s no definite answer to any of those questions. Everyone has their own opinions. Think about cryptocurrency like politics; everyone thinks he or she is right, but there may not exist a global or objective right or wrong.
My Personal Prediction (Just My Own…)
I think you should invest in cryptocurrency (not just Bitcoin) because we’re literally watching a new expression of finance, money transfer, and decentralized financial holdings in action. I feel that Bitcoin will only be one of the key players in the future. In fact I predict at some time in the next 3 years that it becomes dethroned and replaced by another more scaleble coin. When this occurs, people will leave Bitcoin en masse, and then AltCoins (basically, coins other than Bitcoin) will fight for the top position.
Good runners up are Ethereum, Ripple, and (I know many will disagree with me) TRON. But these are all personal opinions and nobody should base their investing strategy on these opinions.