PrivacySwap on crypto’s hyper-adoption: perfect time to buy crypto?
Wells Fargo mentioned that cryptocurrency is going through a hyper-adoption today. Similar to what happened on the internet, it never went back to its initial status. Adding to this equation is South America’s continuous bid to embrace cryptocurrency as Venezuela encourages P2P crypto transactions. Also, after a phase of continuous dip, the crypto market is showing recuperation. With all this fantastic crypto news, you might be wondering, is it the perfect time to buy cryptocurrency?
Before we proceed, note that this content does not implement direct financial advice. As always, we at PrivacySwap urge everyone to always Do Your Own Research (DYOR) before investing in any project including ours.
Crypto’s unstoppable surge
Since its inception, cryptocurrency has not faded in significance whether it’s on mainstream media or among crypto enthusiasts. Being a “free-for-all” type of investment is one of the obvious reasons many people engage in this type of investment. With that, traditional finance and big institutions have also started to show interest in digital assets. In addition, experts have kick started their research into whether cryptocurrency would be an excellent long-term investment.
Following that, banking giant Wells Fargo recently released a crypto-related report. They mentioned that “Cryptos appear to be in a hyper-adoption phase, similar to what happened on the internet during the ’90s. In addition, they also said that cryptocurrency is becoming a viable investment today despite its early age.
We have covered crypto adoption multiple times on this blog site to provide you with the latest crypto news. Every day, we witness how widely cryptocurrency has been embraced by numerous countries globally. One recent news we saw is how South American countries encourage and promote cryptocurrency.
Related Article: Cryptocurrency mass adoption starts as more countries embrace this medium of exchange
Based on the recent chainalysis report, Venezuela ranked seventh on the Global Cryptocurrency Adoption in 2021. This is due to the broad P2P activity in the country. Last year, the country showcased a fantastic trend in cryptocurrency transactions. There is also a growing number of users and businesses that use cryptocurrency as a form of payment. This is to avoid the inflation of the Bolivar (currency used in the country), which has been an issue on the continent for years.
As a result, cryptocurrency has become widespread in the country. More prestigious companies and businesses are beginning to accept cryptocurrency payments, and some are even rewarding their customers for doing so.
With all these events, is it the right time to engage with cryptocurrency?
“Too late to invest” is a myth
In the report by Wells Fargo, they mentioned that the “too late to invest” argument is understandable but is not something you should subscribe for. Despite how long we have heard the term “cryptocurrency,” Wells Fargo believes that cryptocurrency is still at its early age. “Vast majority are, in fact, less than five years old,” they added.
This means that the crypto growth could be misleading, especially to new investors, as their prices mostly skyrocket. The price increase is because most digital assets pegged their cost at less than a (US) dollar. For example, Bitcoin’s price was only at $ 0.004 16 months after its creation. BTC did not reach $1 until February 2011.
Furthermore, the bank said that it is early but not too early to invest in such digital assets.
“We recommend professionally managed private placements for now, as the investment landscape is still maturing.” Wells Fargo
Invest when you are ready
Though it was very evident that cryptocurrency had showcased a fantastic chart, it still depends on you when and where to invest. Cryptocurrency is also recently recuperating from its month of losses. From $36K, Bitcoin is now (at the moment of writing) priced at $44K. Despite that, it is still not a green light to buy crypto — not because of the price but with your knowledge as a new crypto investor. Investing in cryptocurrency is never an easy job. It requires knowledge to invest in the right cryptocurrency for you.
Always spend time researching and reading the most viable cryptocurrency that suits you. Remember that cryptocurrency remains volatile, and the price could go from 100 to 0 instantly. Therefore, mind readiness is necessary and only invest whenever you are ready.
We at PrivacySwap believe that every day can be a perfect day to explore cryptocurrency. It is never wrong to delay crypto investment, especially if you are new to the DeFi space. Note that this investment still requires money, and no one is willing to invest right away in an unknown ecosystem.
As a platform, we still have lots of things to explore and build in the crypto space and every day, we are learning new things. With the upcoming launch of our DEX, we work towards ensuring that all your crypto assets are transparent, that the members are heard, and everyone will hopefully have a financially beneficial crypto journey with us.
If you are hearing us for the first time, we have lots of things to share with you, and we are more than willing to help you with your crypto journey to join the mass adoption that is happening.
Engage with us now!