The future is here and technology is making everything around us much different than it was before. This includes money. Back in the day, people would use trade as a way of generating wealth. Then came gold, jewels, coal. More recently, what we know about money and trading has to do with banks and the stock market where financial players exchange money and make sure that the value is stated at a certain level.
Well, cryptocurrencies have come to challenge everything we know about the financial market and the way it behaves.
Can you believe you no longer need to depend on a bank in order to own and trade wealth? If this sounds idyllic to you and something you would like to learn more about, keep reading to find out more about the world of crypto and the pros and cons of being involved in it.
Also, stay posted to learn more about how you can connect with a private tutor through Superprof who can help you understand the world of crypto more thoroughly and reach your financial goals.
Learn more about the risks of cryptocurrencies, tips to become a better investor and where to study crypto in Petaling Jaya.
Is investing in cryptocurrency a good idea?
Everyone's doing it. Bitcoin, Dogecoin, Ethereum... If you are somewhat familiarized with the world of crypto you've probably heard these names mentioned in passing.
But, what is cryptocurrency all about? Cryptocurrency is a type of virtual currency that is secured through various cryptographic and computer-generated means. And where does cryptocurrency come from? It comes from the word cryptography, meaning the art of writing or solving codes. Each coin of cryptocurrency is a unique line of code. And cryptocurrencies can’t be copied, which makes them easy to track and identify as they’re traded.
Some people like to be a part of the crypto world and movement because it is a decentralized market, meaning that trading can be done peer-to-peer instead of having a third party (like a bank) acting as intermediary. You store your cryptocurrency in something called a digital wallet—usually in an app or through the vendor where you purchase your coins. Your wallet gives you a private key—a unique code that you enter in order to digitally sign off on purchases. It’s mathematical proof that the exchange was legit.
This might all seem "techy" and attractive to many but, is investing in crypto really worth it? What are the pros and cons of investing in crypto? Are there any risks?
Cryptocurrency is a good investment if you want to gain direct exposure to the demand for digital currency, while a safer but potentially less lucrative alternative is to buy the stocks of companies with exposure to cryptocurrency.
In a positive sense, crypto gives consumers greater choice, independence, and opportunity in their finances. Its open-source nature also helps eliminate the weak points of the modern banking system by bringing access directly to consumers. This makes it easier to buy, sell, store, and trade the best performing assets of the last decade.
Another common reason to invest in cryptocurrency is the desire for a reliable, long-term store of value. Unlike fiat money, most cryptocurrencies have a limited supply, capped by mathematical algorithms. This makes it impossible for any political body or government agency to dilute their value through inflation. Another positive side is that cryptocurrencies are global, meaning they have the same value in every country and no exchange rates.
On the not so positive side of crypto, cryptocurrency exchanges, more so than stock exchanges, are vulnerable to being hacked and becoming targets of other criminal activities.
There's also no guarantee that a crypto project you invest in will succeed. Competition is fierce among thousands of blockchain projects, and projects that are no more than scams are also prevalent in the crypto industry. Only a small number of cryptocurrency projects will ultimately flourish.
Finally, trading in cryptocurrency is kind of like gambling. Because it’s exchanged from person to person without any real regulations, there’s no pattern to the rise and fall of its value. It is important to understand that the value of cryptocurrencies goes through extreme ups and downs. Cryptocurrency definitely isn’t a sure thing, it carries a huge amount of risk.
Another thing to keep in mind is the amount of speculation surrounding crypto.
While many supporters believe that digital currencies could become part of daily life, the cryptocurrency market is currently dominated by speculative trading. Studies of blockchain activity show that exchange trades remain the most prevalent use for cryptocurrencies and account for far more economic activity than ordinary trades and purchases.
So, what actually determines the success of a cryptocurrency?
Many cryptocurrencies like Bitcoin and Ethereum are launched with objectives that may be achieved over long time horizons. While the success of any cryptocurrency project is not assured, if a cryptocurrency project achieves its goals, then early investors could be richly rewarded over the long term.
But in order for that to happen, achieving widespread adoption is necessary to be considered a long-term success. This means that more and more people need to be dealing and investing in a certain cryptocurrency which proves to be tricky given the volatility of crypto itself.
So, should you invest in cryptocurrency?
There is a lot of hype around crypto and many people are scrambling to invest without having a lot of knowledge on the matter. At the time being, investing in cryptocurrency is not a good way to build wealth for your future. If you really want a solid investment, crypto might not be the right way to go.
But if you have some extra money around and you’re ready to invest, you can try investing in a low risk crypto and see how it goes.
Do you want to learn more about cryptocurrencies in Kuala Lumpur?
How to Invest in Bitcoin?
If you are not super familiar with the way in which you can invest in crypto, we will show you specific examples to invest in Bitcoin:
- Buy shares in bitcoin-related companies: you could invest in cryptocurrency exchanges or even buy shares in companies that are accepting bitcoin as payment.
- Bitcoin ETFs: you could invest in a bitcoin exchange traded fund ETF. This copies the price of the digital currency, allowing you to buy into the fund without actually trading bitcoin itself.
- Invest in blockchain technology companies: you could invest in the blockchain network (the system for recording information about crypto). For example, tech platform Solana claims to be the fastest blockchain in the world.
- Bitcoin funds: several investment companies are launching bitcoin funds.
- Bitcoin options: these are a form of financial derivative that gives you the right to buy or sell bitcoin at a set price (known as a strike price) before a certain date of expiry.
Do you want to learn more about the types of cryptocurrencies and where you can study crypto in Seberang Perai?
Where Can I Learn Crypto in Ipoh?
Do you want to learn more about crypto and how to invest in Ipoh? You can check out the following options for in-person crypto courses in the Ipoh area:
- Unichrone: they offer a course called 'Blockchain Training in Ipoh Malaysia: Adhered with International Standards' that helps professionals understand the advantage of Blockchain technology in peer-to-peer transactions and Cryptocurrency. With hands-on training and extensive case studies, their highly qualified instructors will guide professionals through the various types of Blockchain currencies like Bitcoin and Ethereum. Extensive course study material designed by subject matter experts will help professionals to utilize the learnings to build applications and programming based on Blockchain technology in the organization they work in.
- Crypto events: as is the case in many cities around the world, the crypto community organizes events in Ipoh and all over Malaysia for people who wish to learn more about crypto and blockchain and want to join a community of traders.
If you want to learn more about the history of crypto and how you can learn crypto in Georgetown, go to our article.
Find a Crypto Tutor with Superprof
As you can see, there are not many options for taking crypto courses in Ipoh. But you shouldn't be discouraged: Superprof has the answer for you!
Superprof is the ideal platform for students who are looking for teachers or tutors to guide them in certain subjects and crypto is not the exception.
With the help of Superprof you can find a great crypto teacher or tutor who can help you reach your goals of understanding the world of crypto so you can make the best possible investments and dive into the world of blockchain.
All you need to do is conduct a quick search to find the available tutors in your area as well as tutors all over Malaysia who are open for online crypto courses and who can support you with Zoom classes and whatnot.
If you are interested, make sure to check their profiles thoroughly, look at their professional experience and ask as many questions as you can before booking your class.
Get ready to learn more about the amazing world of crypto with the help of Superprof!
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