Major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) have not had a great year in 2022 so far. If you have prior experience in trading, then you know a bear market is usually the right time to start investing in tradable assets, provided that the assets have sufficient potential, of course.
Since we are discussing cryptocurrencies, rest assured that there is more potential here for the smart trader than in any similar exchange. If you are interested in starting a new business directly or indirectly related to the crypto trade, go through the post to know how is it that cryptocurrencies can hold so much potential, even after a bad year.
The Potential of Cryptocurrencies
As far as cryptocurrencies are considered, trading in them may initially seem far riskier than they are in reality. Experienced traders take advantage of the crypto trade’s volatility to earn immense profits that forex investments can never match due to their comparative stable nature.
The stock exchange, on the other hand, does indeed offer that volatility to experienced traders if they can identify the burgeoning corporations before they shoot up in value. However, the risk of losing money permanently by investing in potential stocks that fail is far higher.
Trading in Major Cryptocurrencies Can be Safer
Cryptocurrencies present a less risky proposition, despite the high and almost unpredictable price variance. For example, Bitcoin has seen extreme price hikes and dips for a long time now, but there is no valid financial analysis available today that predicts bitcoin will go out of commission in the foreseeable future.
It is also much easier to sell BTC, ETH, USDT, USDC, XRP, or any other major cryptocurrency at any point you may need to when compared to failing stocks. Use this crypto price converter to see what the current value is for the major cryptocurrencies and get started with trading in crypto right away. Even when the market is down, you will be able to sell cryptocurrencies without a hitch, but that is not as easy to sell once the stock price of a failing company begins to crash.
Trading in Major Cryptocurrencies Can be Extremely Profitable
Although it is certainly true that there is no way to be sure that bitcoin will see a huge price hike in 2023 or even 2024, there is always a chance that it may happen soon, and that’s a strong chance too. The forecasts are based on past statistics, expert analytics, and AI-supported predictions.
Therefore, investments in major cryptocurrencies like bitcoin are safer than investments in volatile new stocks because bitcoin has almost zero chances of going out of commission. Nonetheless, anyone investing in bitcoin will always have a chance to take advantage of the polarizing hikes and dips that are typical of new, potential stocks. The only difference would be that bitcoin hikes and dips are generally on a much grander scale.
This is not just true for bitcoin or Ether either. If you wish to play it safe, stick to stablecoins like USDT or USDC. They never lose value beyond the tethered major currency, which in this case is the United States Dollar.