My Investment My Choice
Hey guys,
It's your boy @awesononso and I am here to participate in this great contest hosted by our very own moderator @steemdoctor1.
I so much love this contest because it aids at bringing out investment ideas in users and many can learn from it.
Without wasting anymore of our time, let's enjoy the content of this contest.
Where do you invest your 5000$ and why?
Where do you invest your 5000$ and why?
This is a very interesting and critical question, and it aims at bringing out investment ideas in investors.
If I were to own $5k, I would invest it in cryptocurrency, especially now that we are approaching a bull market.
One reason I will consider investing my $5000 in cryptocurrency is because cryptocurrency has the potential to give a high return.
Using bitcoin as a very good example, in the year 2010 btc didn't worth up to a cent but in 2021 it got to an all time high of over $60,000.
This simply implies that the cryptomarket is able to give me more than 100x of my investment.
Imagine I invested $5000 in Bitcoin and come this bull run, I am having a total of $5m, that is indeed a very good investment.
What possible benefits will you get by investing your money there?
There are so many benefits associated with investing my money in cryptocurrency and I shall explain some below.
- HIGH POTENTIAL RETURNS
One benefit I will get by investing my money in cryptocurrency is that it has a good potential to give me high returns.
Early investors in bitcoin can attest to this as they experience a significant surge in price of btc which gave them a higher returns on their investment.
One reason I will invest in cryptocurrency is because of a higher return.
- PORTFOLIO DIVERSIFICATION:
Another benefit I get for investing in cryptocurrency is that it allows for ones portfolio to be diversified.
This means I don't necessarily have to invest in one coin rather I can invest in several assets and each will give me a good return.
And in cases when there is a reduction in price of a particular asset, it won't necessarily affect the others and you will still be profitable.
What risks are involved while investing your money in your chosen market?
What risks are involved while investing your money in your chosen market?
There are no much risk involved in investing in cryptocurrency other than the issue of price volatility.
The cryptomarket is highly volatile and cannot be predicted, and this is a risk because you can easily loose whatever investment you have made.
CONCLUSION
I have participated in this great contest in the best of my ability.
I appreciate it's host and I anticipate his next contest.
Upvoted! Thank you for supporting witness @jswit.