According to many experts, cryptocurrencies will help us in the times we live in, especially for young people.
Even JP Morgan, the largest investment bank that manages the money of numerous banks and large investors around the world, is keen on these investments, according to a recent report in a major financial magazine. This very bank has been viewed as a war of words on cryptocurrencies in the past.
Cryptocurrency in the Modern World: Where do We Stand?
First, let’s understand what cryptocurrency is. These are just like any other asset except that they are mostly in digital form. Initially bought digitally for fiat currencies such as dollars and euros through crypto exchanges, they can then be traded like any other asset or held as an investment.
Through these exchanges, one cryptocurrency can be traded against another cryptocurrency or fiat currency. Those who trade primarily hold currency in accounts on exchanges, and those who choose to invest and hold typically transfer currency from exchanges to digital or fiat wallets.
After the pioneer Bitcoin, Ethereum and his XRP Ripple are his two most important cryptocurrencies, according to most analysts.
XRP Ripple is particularly popular with students and young people due to its current price of around $0.60. Just a month ago he was $0.23. Currently, it is estimated that 38.4% of young people between the ages of 25 and 34 live together or with their parents. It’s like never before. If the analysts are correct, investing in cryptocurrencies is the best way to buy your own assets.
What these analysts promise is the prospect that the fiat currency will depreciate and lose its value. This is due to the massive, possibly indiscriminate printing of money pumped into the economy by most governments. So let’s take a closer look at the three cryptocurrencies we mentioned. Bitcoin was still trading at around $120 in 2013 and is now trading at around $19,000.
New Kids On The Block
Ethereum was worth less than $1 in 2016 and is now worth around $595. The price of XRP Ripple has never been this high. However, many experts predict prices will soar. The main reason is that the currency is intended as a real-time gross payment system without fees, unlike Bitcoin and Ethereum, as opposed to the fees incurred when using SWIFT transfers.
They further point out that the company already connects to over 100 major banks around the world and is already the third largest by market capitalization.
Famous Investors
Erik Finnman’s story has been widely covered by many of the major news networks. According to his story, Finman was only 12 years old when he invested $1,000 in cryptocurrency borrowed from his grandmother.
By the time he turns 18, he’s already a millionaire and his net worth has only increased over the past three years, but at 21, he’s still a young adult.
He is said to have made between $150 million and more than $500 million. Other high-profile investors include the Winklevoss twins, Jared Kenna and Dave, who are better known for suing Facebook. Carlson, Charlie Shrem, Roger Verr.
Preferred Way Of Transferring Funds In Casinos
Thanks to crypto, players can now deposit money into their gaming accounts without revealing their information. Over the past few years it slowly but surely became the most convenient option for players even though the number of cryptocurrencies has dropped by 11% in recent times. Whenever you make a transaction with Bitcoin or Altcoins, all you need is your wallet address and/or account destination tag.
Bitcoin and other cryptos run on blockchain technology, so transactions can be easily monitored and approved. Players always send money directly to the casino without anyone’s consent. Bitcoin is mostly used for deposits, therefore these casinos are popularly called bitcoin casinos (source: https://www.basketballinsiders.com/online-casinos/bitcoin/). However, always make sure you are sending your funds to the correct wallet address because after the money is sent, there’s no going back.
Overall, using cryptocurrencies in online gambling is convenient. It is also a great way for players to avoid gambling transactions on their accounts. There are countries, like Ireland, where people are not allowed to borrow if their bank account is involved in gambling transactions, so buying cryptocurrencies is simply the better option for them.
Unbreakable Bond Between Students And Crypto
Young people today are very smart. According to multiple reports, about 20% of college students invest in cryptocurrencies after paying for books, tuition, and living expenses.
The days when most cryptocurrencies were despised and ridiculed seem to be over. Today, top universities in Pennsylvania, Duke, California, Michigan, New York, Hong Kong, Alcala, Madrid Borough, Edinburgh, Denmark, and many others offer cryptocurrency courses.
Finally, we recall the famous words of the Italian diplomat and philosopher Niccolo Machiavelli “The founders have the animosity of all who profit from maintaining the old institution, and only lukewarm defenders of those who profit from the new institution. ”
Differences Between Male And Female Investors
While men consider themselves to be better investors, studies show that women regularly outperform men by an average of 40 to 94 basis points per year. It has also been known that when a woman decides to sell, she laughs it all the way to the bank, usually buying and holding onto it until she confirms the correct price.
The Rice University study further found that men were more likely than women to take risks for personal financial gain, and women were more likely than men to take risks to protect themselves from financial loss. High, indicating that women are more dependent on the goal of ‘fellowship’. Affected in relation to loss minimization.
