Cryptocurrency has been having quite the year. Digital currencies are the latest phenomenon in the investing world, and several different types of currencies have been shattering records.
Bitcoin (CRYPTO:BTC), the most popular type of cryptocurrency, has seen its price increase by nearly 90% so far this year. Ethereum (CRYPTO:ETH) has soared around 435% this year. And the price of Dogecoin (CRYPTO:DOGE) has skyrocketed a whopping 7,800% in the same time period.
If you’re on the fence about investing in crypto, it can be tough to tell whether it’s a smart investment. For every investor who swears it’s going to change the world, there’s another saying it’s a terrible investment.
The truth is that nobody knows what the future holds for crypto. But there are a few reasons you may want to consider investing — and reasons you might avoid it.
Why invest in cryptocurrency
1. It could be the next big thing
It’s true that cryptocurrency could potentially change the world as we know it. Crypto is a global currency, and it can be used for transactions across countries without having to pay high fees — which could