Is This The Time To Invest In Crypto Currency?

More than 8.1 crore users had established unique Bitcoin wallets as of March 2022, with more than 2.7 lakh verified Bitcoin transactions every day. Does this imply that crypto currency is the way to go? The article dwells upon the gains and losses of this new financial entity

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As time passes, new and innovative ideas emerge in the realm of finance and investment. Stock market trading used to take place on exchanges with a trading ring and pit. Then phone-based trading took its place, and soon after, computer and cloud-based trading entered the fray. Furthermore, algorithmic trading is gaining traction. Not only that, new means of investing are emerging, including cryptocurrencies and non-fungible token (NFT), which many see as a different asset class. Bitcoin is the first cryptocurrency, released in 2009, that acquired a lot of popularity with individuals investing in it, including many celebrities and business leaders such as Elon Musk. This gave rise to other cryptocurrencies, which quickly became popular.

That said, it is critical to grasp or understand each new investment opportunity before making a decision. As a result, in this article, we will learn what cryptocurrencies are, compare the performance of prominent cryptocurrencies to equity and determine whether now is the ideal moment to explore and get involved in this new investment avenue. More than 8.1 crore users had established unique Bitcoin wallets on Blockchain.com as of March 2022, with more than 2.7 lakh verified Bitcoin transactions every day. This represents a 72 per cent increase over the previous year and a 237 per cent increase since 2018. Further, as of 2021, around 10.6 crore individuals worldwide used cryptocurrency. Blockchain.com is a website that allows you to purchase Bitcoin.