Cryptocurrencies are good investment but need to be extra caution for investing
T&J brothers group CFO Xingyu Yang(James) said that Cryptocurrencies are good investment but need to be extra caution for investing. It is the future for people to use cryptocurrency and it will lead us to the future but there are many uncertainties at this point. There are many options for investor to invest such as Dogecoin, BTC and ETH. However, investor should take a deep study and understand of each coin’s value behind the price to having good return for the investment. There are many people just invest because of Elon’s Tweet. That is extremely dangerous investment and movement for the short-term investor. Nobody knows how Elon thinks about cryptocurrency. He could like it today and change his opinion tomorrow. Investor should do their own work and understand the deep value of the cryptocurrency. Crypto-Monnie is a cryptographic and decentralized kind of currency. Their ability to store and grow value has also attracted attention from several investors. Cryptocurrencies may be used to purchase and sell products.
Today there are thousands of various cryptocurrencies. Bitcoin was developed in 2009, and the most famous – and the original. Ethereum, XRP, and Bitcoin Cash are other similar cryptocurrencies. Each of these currencies has a different value behind it, with some currencies tailored for cash use, and others for private, direct transactions. Investor should study each value behind the cryptocurrency and understand how it works and how much it will be work in the future to invest. It is especially important for investor to study on it rather than just invest because of Elon’s Tweet. Cryptocurrencies are entirely digital, so that the crypto you possess no real coin or bill. Instead, owners keep digital wallets with bitcoin and purchase or sell digitally. The wallet can be online or offline on hardware-similar to a USB drive (some common exchanges like Coinbase have an in-app wallet). In recent years, Bitcoin and some other cryptocurrencies have risen. The price of Bitcoin more than doubled in 2021, and Ethereum this year’s worth more than quadrupled.
However, the debate remains whether this development is sustainable and what it entails in the long run. Dr. Dr. Richard Smith, executive director of the Cycle Studium Foundation (CSF), a non-profit organization devoted to researching recurrent trends in economies and cultures, said: “Today’s crypt is a blockchain technology which drives public interest in speculative fever.”
We will have potential future for the cryptocurrency but we need to be caution for the hustle coins which just like a lie with no value behind it.