Crypto or no crypto? That is the question

History has shown that the earliest versions of some of the greatest inventions and ideas, pivotal in constructing the modern world, were first the laughing stock of their time. Jeff Bezos, Founder and CEO of Amazon often recounts the difficulty he encountered trying to explain to potential investors how the internet was going to revolutionize the way we do business. Suffice it to say, Mr. Bezos is the one who had the last laugh.

?

As history often does, it repeats itself. Many experts believe that cryptocurrency is poised to become the next best thing in the investment landscape and are encouraging people to, as they put it, get a head start. Others have contended its viability which has led to the following question: could we be missing an opportunity by not investing in cryptocurrency or is it an opportunity to be missed? Before we answer that, allow us to help you set your cryptocurrency foundation.

?

?

What is cryptocurrency?

?

Cryptocurrency or crypto refers to a digital peer-to-peer payment system that does not rely on banks to verify transactions. Operated by blockchain technology, crypto payments exist as digital entries to an online database which gets stored in a digital wallet. Crypto is projected to be used as digital money in the future as well as an important investment asset for growth

?

Within the last two years, institutional investors have increasingly added crypto to their investment portfolios. Analysts contend that this is an indication that it is garnering steady traction and confidence among investors as a future digital asset.

??

As of 2022, only 140 million people invest and use cryptocurrency as a means of exchange. Many advisers say that we are still in the early stages as its projected pinnacle has not yet been reached. But what of those who are not so impressed?

?

Well, investment decisions are hardly ever unanimous. The questions we have can only be fully answered by conducting sufficient research and keeping updated with the latest news and trends to see if a particular type of investment best suits your profile. VM Wealth Management encourages all investors and potential investors to go the extra mile in determining the options that will best help them on their journeys to wealth creation.