The world of cryptocurrency is strange and confusing – an industry made up of magic internet money, million dollar JPG pictures, and a community of followers so devoted that they resemble a cult. At the root of this bizarre circus is the original cryptocurrency, Bitcoin, now worth over US$40,000 per coin – an insane amount of money that could buy a house in a developing country.
For those not familiar with the industry, it probably seems out of reach – an exclusive world belonging to mega-rich tech moguls and Youtube celebrities. But what if I told you that anybody can become part of the cryptocurrency industry? You don’t even need any money or technical experience – just a smartphone and an internet connection.
But I’m not rich enough
The biggest mistake that most people make when getting into cryptocurrency is thinking that price matters. Whether Bitcoin is valued at $1 or $1 million makes no difference to you as the buyer, because you can invest as little or as much as you wan’t. If Microsoft is valued at $10 million, you don’t need $10 million to invest- all you need is enough to buy one share. With Bitcoin, all you need is enough to buy 1 satoshi, which is a hundred millionth of a Bitcoin. Currently, one satoshi is about $0.0004 dollars so you could buy over two thousand satoshi’s with less than a dollar.
Isn’t crypto really complicated?
Another mistake many people make is thinking cryptocurrency is some complex, technical computer program and you have to learn how to code to use it. Sure, it was a bit like that at the start but these days it’s as easy as playing Candycrush on your smartphone. You simply download an app like the Bamboo crypto app, connect your bank account, and start investing. You don’t even need any minimum amount to start – you can literally invest 1 single cent at a time if you wish.
In fact, you don’t even need to invest anything, you can just set the app to round-up your everyday purchases to the nearest dollar and invest the remaining cents for you. If you make ten purchases in the day, each with 5 cents worth of change, that’s 50c invested. Over a month, that’s $15 and in a year, $180. Now, suddenly you’re a crypto investor without even trying!
Will I make money investing in crypto?
With a mean annual return of 93.8%, Bitcoin almost doubles in value each year on average. That means those yearly investments of $180 could be almost $1,000 in just two years – all from leftover change that you would have probably lost anyway. Ofcourse, cryptocurrencies are still a volatile asset class and it’s impossible to predict the market perfectly. Prices could drop at any time without notice, so making any large investments into the crypto market is risky.
That’s why investing your small change is the perfect way to get involved with minimal risk. Even if the market does tank, it won’t cost you your house or even your savings – you’ll barely even notice the loss. For those wanting to get into crypto with minimal hassle and low-risk, you simply can’t beat micro-investing with a round-ups app!
To Know About – Ria Hughes