There are more than five surprising reasons why you should pay attention to cryptocurrencies and the blockchain technology but we want to highlight the ones that are most important to entrepreneurs and business owners...
Seems like every time you turn around, someone is talking about cryptocurrencies and the blockchain, which is the database technology that drives these cryptocurrencies.
There seems to be a lot of hype. And you may be wondering, why should you care about all of this?
After all, you’ve probably heard some of the horror stories. For example, around 2016 to 2018 or so, there were a lot of cryptocurrency scams in the news.
People were losing thousands if not millions of dollars to pump and dump schemes, fraudulent initial coin offerings (ICOs), cryptocurrency theft and more.
If you were watching any of this unfold, you may have shoved cryptocurrency to the back of your mind as something you don’t need to worry about.
But not so fast…
Now that the dust has settled, there are some really exciting projects coming out of the crypto space. What’s more, you may have seen the news that some big, well-known companies are making announcements about what they’re doing in the crypto space. Indeed, even most major governments are starting to research and pilot programs related to digital currency.
If you’re an entrepreneur or business owner, this is your wakeup call – crypto and the blockchain technology are here to stay. Many even say digital currencies and the blockchain technology are the way of the future.
We agree with those folks. The only question is, are YOU ready?
Check out these ways the crypto-space is about to become really important to you, no matter what business you’re in…
At this point, it’s clear that cryptocurrencies – such as Bitcoin, Ether, and many more – aren’t just a passing fad. That’s why major companies are beginning to accept these currencies as payments.
These companies include:
… and many more.
These companies accept these currencies for a variety of reasons, including:
You can expand your business by accepting cryptocurrencies too.
Which brings us to the next point…
Hedging Against Inflation
Another way that companies are participating in the crypto-space is by converting some of their cash reserves to cryptocurrencies. Even educational institutions such as Harvard, Yale and many more are doing this same thing.
One reason that companies convert a small portion of their reserves to cryptocurrency is because they have a chance to make money.
For example, some observers expect that Bitcoin’s value will continue to rise.
Another reason companies (and individuals) do this is because it’s a hedge against inflation.
For example, look at some of the economic crises we’ve seen around the world in places like Venezuela, Greece, Turkey and more. Nowhere is safe from this sort of crisis, and no fiat currency is completely immune to collapsing.
In the past, investors would often lock up some of their wealth into commodities such as gold, which tends to hold its value. Today, some business owners are looking to store their wealth in Bitcoin, which has the potential – but isn’t guaranteed – to hold its value over the long term.
Which brings us to yet another point…
Investing in Crypto
Some business owners aren’t just investing in crypto for the long term – some are also doing short-term trading to make money. However, the cryptocurrency market is extremely volatile, with prices swinging 10%, 20%, 50% or more in a single day. Emotional traders would do best to stay away from this market.
However, experienced traders may be able to take advantage of the volatility to make money – provided they don’t invest more than they can afford to lose. And long-term investors may also stand to profit – if they do their research.
Building on the Blockchain
In simple terms, the “blockchain” is a special type of database upon which cryptocurrency projects are built. It’s transparent, it’s usually decentralized, and it’s secure.
Entrepreneurs everywhere are building amazing applications on this technology in a wide variety of industries. For example:
These are just a few quick examples of the many, MANY applications that are coming down the pike.
Experts say that decentralization is the future of the internet, so anyone who starts building on this technology now is going to be steps ahead of their competition.
One thing that entrepreneurs like about the blockchain is that it’s secure. Even if a nefarious individual secured one copy of the data, they wouldn’t be able to hack it. That’s because the decentralized nature means that 51% of the computing power on the network must agree to any changes. If the hacker tried to steal crypto, it wouldn’t work unless they hacked into 51% of the network – and that’s unlikely to happen when there are thousands of computers on the network.
Another benefit of decentralization is that it removes the middlemen from the process. This provides different benefits for users, depending on the application. For example:
Artists and entertainers who share content on the blockchain are likely to make more money in subscription and advertising fees, since there’s no middleman taking a cut.
People who previously couldn’t access certain services due to not meeting some requirement (such as getting a loan through a bank) can access those services on the blockchain.
Applications on the blockchain are censorship resistant, since there’s no central authority making calls about what can and cannot be shared. This has important applications for people living under oppressive governments, especially since blockchain applications can be anonymous.
We’ve just scratched the surface here, but the takeaway is that the blockchain applications are, in many cases, even more exciting, promising and profitable than the associated cryptocurrency itself!
Finding and Partnering With Those in the Crypto Space
Some of the world’s brightest entrepreneurial and technical minds are working on blockchain and cryptocurrency projects.
You can get involved in these communities, brainstorm with these folks, and even partner with them. Even if this is the only thing you do in the crypto space, you’re likely to find it very rewarding (and quite possibly very profitable as well).
A few parting thoughts…
If cryptocurrency and the blockchain technology have sort of been on your radar lately, but not front and center, we hope this article has opened your eyes to the possibilities.
Right now, the crypto-space and the blockchain technology are really young – but we’re standing right on the threshold of a big boom as this space explodes.
Think of it this way – where we are now is sort of like where we were in the late 1990s with companies like Amazon, Google, eBay and more.
Right now, the crypto-space and the blockchain technology are really young – but we’re standing right on the threshold of a big boom as this space explodes. LEARN MORE
The internet was young and those companies were babies. If you knew then what you know now, you would have dropped a lot of money scooping up stocks for a buck a piece.
And today? You’d be a millionaire.
Most of us missed that chance. But now we’re getting another chance, and if we’re smart we won’t blow it. Crypto and the blockchain are the future – but you need to know what you’re doing in order to take advantage of this HUGE opportunity that’s right in front of you.
That’s why we created a new video course called “Cryptocurrencies for Entrepreneurs.”
Here’s a sneak peek: “Cryptocurrencies for Entrepreneurs.”
You’ll find out how the world’s top companies are jumping on the crypto boom – and why you should too!
You’ll discover how to take advantage of the blockchain technology – this is where you’ll find some of the most exciting opportunities that are going to change the future!
You’ll get a crash course in the top 25 cryptocurrencies – right now you can pick some of them up for as little as a few pennies or a few dollars!
You’ll learn all about stablecoins and central bank digital currencies – and why you need to keep a close eye on these exciting developments!
Plus much, much more.
Right now opportunity is banging on your door – are you going to answer?
And will you know how to make the most of this exciting opportunity?
Get ready by checking out the course right now:
==> 'Crypto Currencies for Entrepreneurs'