Why are Cryptocurrencies gaining popularity as an investment instrument
Assalamualaikum dear brothers and sisters |
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You all are welcome with lots of love and greetings. I Hope you all doing well and enjoying the best occasions of your life. I want to share some of my knowledge about crypto with you guys. This post is about the contest organized in steem for Indonesia community. I believe that my post will give you some help and if you are new to this market still you will be able to learn the basics about crypto. So let's move to our business without wasting more time.
I joined crypto at 2019. I am here for last three to four years. I have pretty good, and vast experience of crypto. I mostly use Binanace exchange for my crypto trading.My favourite coins include Doge, Steem, Sushi, ADA, BNB, Shiba Inu (Shib), Gala, Mana and some other coins, which I can't mention them all. Some of these are meme coins and some are Alts coins. For me meme coins are my best, because it easy for them to give you 10x, 20x, 50x or even upto 100x. It's all upon your luck.
For example if you have bought Shiba Inu, worth of only $1 in 2020 they would gave you 1.96billion tokens. Let's see how much dollars you would have now.
Shiba Inu coin
| Year | The amount |
|---|---|
| Jan 2020 | $1 |
| Jan 2021 | $12,431 |
| Oct 2021 | $156,058 |
| Jan 2022 | $66,745 |
| Aug 2022 | $31,803 |
| Now | $17081 |
Let me give some other coins analysis too
Steem coin
| Year | The amount |
|---|---|
| Jan 2017 | $1 |
| March 2018 | 132 |
| Jan 2020 | $5 |
| Jan 2022 | $9 |
| Now | $4 |
Doge coin
| Year | The amount |
|---|---|
| Jan 2013 | $1 |
| Jan 2015 | $73 |
| Jan 2018 | $90 |
| Jan 2021 | $3603 |
| Aug 2022 | $3090 |
| Now | $2350 |
Gala Coin
| Year | The amount |
|---|---|
| Jan 2020 | $1 |
| Jan 2021 | $13728 |
| Nov 2021 | $552861 |
| May 2022 | $106134 |
| Now | $18324 |
Ada Coin
| Year | The amount |
|---|---|
| Jan 2018 | $1 |
| May 2019 | $4 |
| July 2020 | $7 |
| Jan 2021 | $66 |
| Oct 2021 | $144 |
| May 2022 | $55 |
| Now | $17 |
If you want I can do price analysis of more coins for you.Let me know in the comment section below.Just mention the Coin name.
Write down your reasons why cryptocurrencies are increasingly in demand by the world community as investment instruments? |
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The decentralization of the crypto coins make it's demand increase through out the world. All the crypto currencies like Bitcoin, Ethereum,BNB etc are in great demand these days.They are all, the decentralised coins.Decentralized system is a system that is free from any centralized authority and government.
This is my personal opinion, people now are fed up with the capitalist and centralized banking system. Their is more privacy in decentralized system, rather than centralized system.Here your capital is more secure.You are the one having all the control with you in decentralized system, whenever you want to withdraw you can, Whatever the way want, you can use it.
People mostly invest in crypto currencies because it has limited supply, and their is a great chance of drive up in their prices. Due to scarcity their prices can jump and one can earn a good profit.For example, total supply of Bitcoin (BTC) is 21 million. It's price is 27.5k these days. Expert says that by 2040 BTC will have limited supply of only two thousand one hundred coins, Then imagine it's price, how huge will be it's price if it has limited supply of only two thousand coins. Many experts say that BTC will have 1million price by 2023.
Let me tell you the difference between centralized and decentralized system.
| Centralized system | Decentralized system |
|---|---|
| controlled by centralized authority. i:e Government, corporation | Controlled by computer and nodes rather than centralized authority |
| It is secure too, but comparetively less secure to Decentralized system | Highly secure, and resistant to attack.Their is a strong Blockchain technology used here. |
| They give your information to government if needed | It provides great privacy. No one can excess your privacy. |
| It is more efficient, Because you have to deal with human | Maybe less efficient because of Busyness and traffic issues |
Is this a bad sign or vice versa for the existence of official state currency (fiat money)? Give the reason. |
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Crypto currencies do have some impacts on the fiat money. It can be a challenge to the centralized banking system. But saying that, that crypto currencies will eradicate the country own currency, it's completely wrong. It can never happens.Yes it will be a great challenge for the Bank system to make it regularized. Alot of investors from various countries have assets in crypto.
As evidence, almost 25% of Turkey's population (internet users) aged between 16-25 years own cryptocurrency. Then followed by the Argentine population of around 24%, South Africa 22%, Thailand 21.3%, the Philippines 21.2% and 18.5% of the Indonesian population, internet users are also listed on We Ate Social as having crypto currency
Source
From the above report given it is very clear that, a large number of world population is interested in crypto. The government has to regulate these coins. In some countries the government is trying to make the use of digital currencies possible. The modern economy system maker must have to accept crypto, as globally it's market cap is almost 1.2Trillion dollars. which is a very huge amount.
So this is all about my post. I hope you find my work interesting. Their maybe some points, which you may disagree. It's highly appreciated. Pardon for any kind of mistake. See you soon with a next interesting and informative topic InshAllah.
At the end I would like to invite @adilkhan @aaliarubab @shadyash @kathy-cute to take part in the contest, and give your important views about the topic.
Your presence here means alot
Thanks for being here
Allah Hafiz
Regards shahid2030
Hello sir. @shahid2030 you must read the contest rules! Why did you write the title "Steemit Engagement Challenge S9W4?". Your content is clean from the page, but unfortunately your account not included in club status. and you must see how to write correct "tags" for burnssteem25
Thanks for making me correct dear. Check it now please if any mistake in it
I m newcomer dear that's why I do some mistakes
Hi sir @shahid2030 , We have seen it, we welcome it and your article is very interesting sir. However, one of the contest rules that must be met by participants is to be in club status. While you cash out Steem is bigger than the powerup.
We know you are newcomer because you just joined the platform. We welcome you to Steemit and the Indonesian Steem Community, and we will always welcome you here with pleasure.
"While you cash out Steem is bigger than the powerup" I don't understand what does it mean sir. I have done withdraw just for the experiment and to learn how to withdraw.
If I have done any mistake please guide me, next time I will make sure not to repeat it.
Thank you sir
Cash out is steem transfer from seemit wallet to exchange wallet or for whatever it not mistake. I'm just letting you know that you haven't met the club status (Non Club) yet! and this is not a problem because you are still a newcomer.
But we are talking about our contest rules, that one of the conditions for participating in our contest is that the contestant's account must be in club status (minimum #club5050).
Brother! to learn about Status Club, you can study Here.
Cc: @afrizalbinalka @radjasalman
But they show me 69 power up, why?
Now I m no more the part of club 5050? Isn't it?
To re-join club5050 you need to do a Power Up with a total equal to the number of transfers made in the last month
Can I transfer those coins back.
Please give me your discord or Whatsapp number if possible