One of the most pressing questions about cryptocurrencies today is who is really purchasing them. It is difficult to pinpoint cryptocurrencies with all their comings and goings. Moreover, it is even less possible to tell who is interested in purchasing those cryptocurrencies. Are those private investors who are willing to spend copious amount and make a significant return on an initial investment. Perhaps even entire governments are looking to launch their own products.
Who buys cryptocurrencies today?
It is a just question. From well-heeled moguls to ordinary men, everyone is a bit crazy about cryptocurrencies. They want and covet them. Limitless wealth lurk around the corner for everyone to share in the great wads of cash.
However, reality has been a bit of a check and people have been losing money on their heady investments. Why then some rich investors continue to splurge on the sector. Plain and simple, most people who are willing to put their money in cryptocurrencies are also individuals with plenty of disposable income.
You will notice that these chaps are willing to put their money where the next promising thing is. But these investors are definitely not pegging their livelihoods on the onset of cryptocurrencies.
With this in mind, there is a number of heady and ill-considered things that you may be doing. For instance, you do not want to take a double mortgage on your house to buy bitcoin at the point where it is in its peak and see it crumble to pittance afterwards.
Not only that but people who have been clever enough to invest early enough and to accumulate riches through the acquisition, of say bitcoin, have been doing so for years and they have been stockpiling ready cash to snap up every cheap crypto bit they have been able to.
This is understandable, but it also indicates how easily the market is controlled and manipulated by those who already hold the majority of the stock. You will be quite pleased to explore the possibilities, such as they are, but you will also want to know that a return on your investment is on the cards.
As independent observers, it may be a bad idea to start investing right now. Instead, people would be advised to explore the alternatives, which are not as few as naysayers may suspect.
Blockchain – Take the Good, Leave the Bad
When it comes to determining the outcome of an investment, experts tend to equivocate. There are many things to consider, they posit. With this in mind, not all is lost and you will be quite pleased to explore the options.
Blockchain will definitely bring a lot of change in the sector of digital money. As we have been talking all throughout our articles, blockchain as an idea and an underpinning of cryptocurrencies.
Digital money will certainly play an ever more important role in the world and you will be pleased to partake and endorse it. Another important development is the move of central banks around the world.
For starters, there are those central bodies, such as the ECB, which have been largely in favor of blockchain technologies giving them a full endorsement, which in turn means a brilliant chance for digital money to develop.
Some banks have even promised that they would issue their own cryptocurrencies to fight the lack of regulation in the sector.
Meanwhile, rogue regimes have been cottoning on the crypto madness to make sure that they will prop up their ailing finances. Take for example North Korea, which is said to have participated either directly or not into the hacking of various cryptocurrencies.
Not only that, but Venezuela’s regime has decided to issue its national cryptocurrency, the El Petro, which generated millions of US dollars worth of investment money. This is a rather bleak prospect. The idea of throwing cash at autocratic regimes which have been repressing their own people is less than palatable.
While the buyers of cryptocurrencies continue to be overly satisfied in their newly-acquired riches, they should also know that there are legal and ethical dimensions of any investment. With this in mind the people who invest, whether moneyed or everyday and aspiring to acquire riches, should also be familiar with the legal implications of their purchase.
With what has been happening around the world and the various regulators trying to target the crypto sector, you may want to think twice before making a heady investment. We do recommend reading your local country’s regulation on all matters cryptocurrency.