Using Alerts for Greater Crypto Profits
Cryptocurrency: It’s the term we’ve all heard yet only a small percentage of us are deeply familiar with. Many of us associate cryptocurrency with crime, ‘fringe’ activity or profit loss. But this couldn’t be further from the reality. Cryptocurrency is now considered a mainstream, safe way to transact your finances without the fees and regulations of traditional banking.
Why Was Crypto Invented?
The original premise of cryptocurrency can be traced back decades but it wasn’t refined as a concept until 2009, when the first Bitcoin transaction was performed to purchase a pizza. Satoshi Nakamoto can be credited as the original crypto inventor, even though a man named David Chaum coined the idea in the 1980s.
Why did it take more than 20 years to be properly established? Well, first there’s the technology aspect. We simply did not have the tech to support this sort of process in the 80s. Secondly, we needed an incentive. It turns out, the 2008 global financial crisis was the perfect incentive to decentralize the financial industry. Bankers let down the people with poor business decisions and unfair practices, leading to billions of dollars lost and many businesses crumbling. Government interventions then meant it was the people — you and me — who bailed everyone out with higher taxes (country-dependent).
With people feeling disheartened and suspicious of financial institutions, they began turning to alternative financial systems to keep their money safe. Enter cryptocurrency.
Cryptocurrency was, and remains, a digital alternative to fiat money. Every cryptocurrency coin and transaction is online. In some cases, crypto can be stored in a cold wallet, meaning it is offline and therefore unable to be accessed by hackers. But to transact this coin, you’ll need an internet connection and a recipient who accepts crypto.
Can Crypto Make Profits?
Crypto can be used in the same way that your traditional cash is used. Big retailers including Gucci and Rolex are now accepting cryptocurrency in exchange for products — and many, many retailers are jumping on the crypto bandwagon as we speak. In 10 years time, it’ll be normal for retailers to take crypto as a payment method. This is one reason it’s a good idea to jump in now, and get used to the idea of using digital currency.
But crypto also has another purpose. In the same way you can trade fiat money online, you can trade crypto too. When you buy a crypto coin, that particular coin has a value in that moment. For example, at the time of writing this, a Bitcoin (which is a cryptocurrency coin) is worth $50555.43 (USD). Tomorrow, that price will be slightly different. And in 10 years time, we can expect that price to be significantly different. But, other coins have different current values. For example, at the time of writing, 1 Ethereum coin is worth $4,379.85 (USD) and that too will expect to change over time. How a coin performs will be unique to that coin. Each one performs differently. Therefore, shifting your assets from one coin to another can help you to build profits — especially if you do this in a strategic way. It is really no different in principle to stock investment. If one stock is about to crash, you shift your money into a better-performing stock. That way, you profit.
So yes, the short answer is, cryptocurrency can absolutely bring you profits. This is dependent on how you invest, where you invest and when you choose to shift your assets to another coin.
Using alerts for greater crypto profits
Alerts can help you to make more money and reduce risk from your cryptocurrency investment. An alert is a process of telling you (via your digital device) when a particular coin is doing well, or when you are reaching your high or low price limits. These alerts serve as information to help inform your online trading activity. When it comes to any sort of trading — crypto or otherwise — speed matters. Having a real-time alert means you can make a decision about your crypto investments with current, relevant data.
The result? Potentially bigger profits, mitigated risk and better trading success.
At JustAlerts, you can sign up for a 7-day trial to discover how you can benefit from instant crypto alerts. Sign up is quick and easy, with more than 8000 crypto coins supported. Got questions? Email us at support@justalerts.io.
