Cryptocurrencies have been around for over a decade now. And while there were periodic rallies that caught the attention of the media, it wasn’t until last year that the industry began to get taken a lot more seriously.
Investors, businesses and institutions all gave cryptocurrencies a second look, and the potential for blockchain technology looks as bright as ever. With so many gains made by investors already, though, you may be wondering if it’s too late to invest in cryptocurrencies.
At the start of 2020, the total cryptocurrency industry was worth less than US$200 billion. By the start of 2021, that total had grown to over US$750 billion. And today, the total value of all cryptocurrencies stands at just under US$2.4 trillion. So, it’s natural to wonder if you’ve already missed out on the opportunity.
However, there’s a reason that there’s so much hype surrounding the cryptocurrency industry, and many are interested in finding high-quality investments in the space. So, if you’re worried that you’ve missed out on a tonne of gains and are too late to invest in cryptocurrencies, here’s what to consider.
Is it too late to invest in cryptocurrencies?
While it can be understandable to think you’re late to the cryptocurrency industry, the reality is that it’s actually still quite early.
Many investors, as well as businesses, still don’t understand the industry and have yet to see the upside of blockchain technology. In addition, even governments haven’t been able to fully wrap their heads around it, which is why we see so many different rules and regulations from country to country.
In addition, development is continually creating new projects and attracting more users to the sector. In addition to projects on blockchains being created, the technology of existing blockchains, such as Ethereum, is also being upgraded.
And now, many companies are shifting their strategies and looking for ways to adapt and grow with the high-potential cryptocurrency industry.
So, this makes cryptocurrencies very exciting but also very risky. There are more than 16,000 coins or tokens in existence, and many of these won’t be around a decade from now.
So, while there is certainly tonnes of opportunity to find game-changing technology and high-quality cryptocurrencies that can make you a fortune, there are tonnes of high-risk assets that won’t work out.
Here are two top cryptos that should continue to gain in value
While some cryptocurrencies have already seen a tonne of gains, others are still catching up. So, even if you’re just starting to look at investing in the cryptocurrency industry today, there are still a tonne of high-quality opportunities for investors to consider.
Tezos, which has the native token XTZ, is an excellent choice. Tezos is a blockchain with smart contract functionality that’s been created to upgrade on its own without the need for a hard fork. This is a game-changing technology and one of the reasons Tezos is one of the fastest-growing blockchain networks to invest in today.
CHZ, the native token of Socios, is another high-potential cryptocurrency to consider. Socios has a platform where you can buy fan tokens of some of your favourite sports teams by using the CHZ token.
Once you own fan tokens, you can then participate in helping the team make decisions by voting on the Socios app, as well as having the chance to win team collectibles and even NFTs. This is still very early, but already tonnes of European soccer teams, among other sports, have signed up. So as Socios continues to grow and expand, CHZ could be an excellent investment.
Cryptocurrencies continue to offer investors incredible opportunities because it’s still quite early for the entire industry. However, as much opportunity as the indsutry offers this early, it also adds risk, which is why it’s crucial that you do a tonne of research before investing in cryptocurrencies and ensure that you’re buying to hold for the long haul.