Investing in cryptocurrencies can be risky because things change daily, and a small mistake can cause a big crash. There are over 20k cryptos in which you can invest, but only a tiny portion of them will make you a profit. The great thing is that blockchain technology is used for other purposes, and there are other opportunities besides buying coins.
Some people spend their coins on the Race At Road America odds and other play slots, which is almost the same as any other crypto project. There are many successful people in the industry, but it seems like an average person needs a lot of luck to make the right investment.
BTC Is Still At The Top
Bitcoin is still considered the best crypto investment because it’s the first coin on the market and has the biggest market reach compared to any other. From the beginning of mining, it was the best currency, and nowadays, it has considerable trading potential. Everyone that investest a few years ago made a profit which can’t be said for many people in the last couple of years.
It’s always smart to keep it until it reaches the new peak point, like in 2021, which was $69 000. When it comes to mining, it’s the best option nowadays, even if it’s more expensive to mine on your own. This is why many cloud services will do it for you, and you will just pay for a subscription.
The value dropped a lot in 2022, and in June, it’s around $20k, but some people estimate it will reach a million by 2030. No one can guarantee this, but if you like what they have achieved until now and if you believe in the future of crypto, BTC is the way to go.
Digital Art and Land
The most talked about topic in the past couple of years was NFT and digital land. The biggest transactions in crypto history were made because of NFTs, and there will be more like it in the future. Some digital art was sold for over $60 million, and digital land reached over $600k in 2021.
It’s hard to determine the value of a non-fungible token, but it will be used in the future when VR technology comes to the spotlight. There are a lot of users nowadays, but it has to be cheaper so everyone can afford it. There are also many improvements to be made when it comes to resolution and optimization.
Digital land will be even more important than NFTs because people will eventually switch to virtual reality. Some platforms will make billions by selling land and virtual offices when this happens. Investing now may be the perfect opportunity because the prices are not as high as they can be.
Blockchain Games
Games are always a wise investment because the industry is constantly rising, and the currency value is just over $200 billion. In combination with the crypto industry, these numbers can be much larger. There are many games on the market today, but there’s still speculation about their future and reliability.
Each game has its currency that players use to sell and buy things like skins and champions, but they can be sold for BTC, ETH, or other. When you want to invest in gaming, check how their in-game economy works and what they are trying to achieve.
There are a lot of scams trying to explain why their game is the best and how it works, but the stories are usually false. This is why it’s essential to do your research and find any missing links. It’s quite easy to get scammed even by investing in a coin that thousands of people buy because influencers have a huge impact on the market.