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My Two Sincere Opinions on Cryptocurrency and Bitcoin as a Personal Finance Developer


Key takeaways:

  • Cryptocurrencies are like online money. Investors should consider adding some crypto to their portfolio.
  • Blockchain is the underlying technology. Unlike regular money, Crypto doesn’t have a set value and is worth whatever people want to pay online.
  • Crypto may not be the ultimate solution, but the government printing money out of thin air is also a huge problem.
  • Investing in Crypto is a high-risk, high-reward endeavor (i.e., high volatility).

Investors should at least think about adding crypto

Crypto is relatively easy to grasp once you take the time to understand it. It is also a highly divisive topic.

Some people think it’s a scam or facilitates criminal activity. Most people aren’t sure how it’s priced or think its price will crash to nothing.

All of those things are potentially true.

As someone who started investing young, I think some Crypto is still worth considering for any investor.

Unlike fiat currency, you don’t have to buy a whole coin of any cryptocurrency.

As of this article, Bitcoin has recovered to over $40,000 per coin, up from its previous low of $17,000 but down from its all-time high of around $68,000.

Data: CoinGecko; Chart: Axios Visuals

Before you think I’m a crypto enthusiast, I’d like to emphasize that I’m just a typical investor with a diversified portfolio; Crypto is only a tiny part of my holdings.

Understandably, this is one of many times people have become wary of new financial products.

When Bank of America first introduced credit cards in the 1950s, there were plenty of denouncements and anxiety surrounding consumer credit cards.

Sources


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Author: Cassandra Perez

Last Updated: 1702201803

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Author information

Name: Cassandra Perez

Birthday: 1951-04-10

Address: 94147 Mann Trace, East Troyborough, VT 69405

Phone: +3864275678059356

Job: Blockchain Developer

Hobby: Beekeeping, Photography, Running, Arduino, Scuba Diving, Rock Climbing, Singing

Introduction: My name is Cassandra Perez, I am a forthright, Adventurous, welcoming, resolute, receptive, transparent, dedicated person who loves writing and wants to share my knowledge and understanding with you.