Advantage of cryptocurrency above other currency and stock market investment

zanezane

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Quote from: Gozie51 on January 29, 2021, 09:55:54 AM

2. Diversification of your business
It gives the opportunity of trying out another line of business instead of focusing on just the traditional kind of business that is fast disappearing.

In what way will cryptocurrency diversify your business? I am a little confused, is it the making cryptocurrency part of your transaction in your business? What traditional kind of businesses exactly? Thank you.

Quote from: Gozie51 on January 29, 2021, 09:55:54 AM

4. Price don't remain up, it is a bear and bull market
What you need to do is to wait for the bear to go in. The bears are also signal to sell off if you decide.

I don't think that this one is an advantage, this is just a fancy play on words to say that cryptocurrency is volatile, if you do not know the insides of the market then I think that this will not be an advantage for you but on the other hand it can be a way to create wealth.

Quote from: Gozie51 on January 29, 2021, 09:55:54 AM

5. There is more big and institutional buying going on.
This will bring potential for big gains because more investment will go into it. The whales are creating more grounds for bear and bull making increase volatility which is good for investment.

Again, volatility is what some small investors consider when they want to invest in cryptocurrency, we can't downplay the fact that bear season is happening because for some people, that season means that they will lose a lot of money to make ends meet.

My take on the advantages of cryptocurrency when it comes comparing it with stocks, is that you know that there is a big chance of an explosive growth while on stock market, the companies has to prove their worth to be able to pump up the prices of their stock.

jseverson

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The biggest advantage was actually on complete public display in the headlines recently:

Quote from: https://talkingpointsmemo.com/cafe/dismal-reality-wallstreetbets-gamestock-reddit

The decision by Robinhood and others to halt trading on stocks like GameStop is proof that the table is stacked against regular people, and it’s no different than if a casino decided to usher out their clientele just because they started winning.

You can't really do that against crypto lol. Here's a short summary of what happened. It essentially boils down to control: no one can stop you from doing what you want with your coins, whereas nearly every other option is subject to some bigwig's approval.

OcTradism

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Quote from: AakZaki on January 31, 2021, 04:05:26 PM

The price of cryptocurrency is very volatile, so bearish and bullish will happen quickly. This will indeed be profitable, but it will also be detrimental when you make the wrong entry.

This is right. People have to self-answer that which traits they have. If they are greed, impatient and keen on gamble, cryptocurrency market is not for them. Stocks can give them more safe but yes they will get loss certainly.
If they are selfish, careful, not greed, and patient enough, cryptocurrency can give them a place to play and get profit.

It is not difficulty to choose a good entry but the difficulty is how you are patient wait for it, weeks, months? If you break your plans, your take risk and please afford to lose.

Quote

Cryptocurrency is becoming an alternative digital currency for making payments and side by side with other currencies. Crypto and other currencies have their respective advantages. So it cannot be concluded that cryptocurrency is above other currencies.

Bitcoin can not take over fiat. Altcoins can not. They will be in our society and support each other.

AakZaki

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The price of cryptocurrency is very volatile, so bearish and bullish will happen quickly. This will indeed be profitable, but it will also be detrimental when you make the wrong entry. Cryptocurrency is becoming an alternative digital currency for making payments and side by side with other currencies. Crypto and other currencies have their respective advantages. So it cannot be concluded that cryptocurrency is above other currencies.

Coyster

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Other than the mistake of referring to crypto as a business, you haven't mentioned the true pros of decentralized cryptocurrencies, or rather Bitcoin, cause the generalization using cryptocurrencies, will as well include altcoins, of which most are scam projects, pump and dump ones, or aren't sustainable for the long term, and can only generate short term ROI.

Having said that, advantages of Bitcoin would include things such as Freedom and control from third party, the 'be your own bank' part and a host of other things, most Bitcoiners are in the network cause they control their funds themselves, and thus it cannot be manipulated, and for Investment reasons too, as a hedge against fiat Inflation/devaluation.

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Quote from: mk4 on January 29, 2021, 11:45:41 AM

2. Besides bitcoin, "diversifying" to crypto is really really bad.

4. ?

You missed the 3? though and jumped over to 4 ? huh Grin

Quote from: mk4 on January 29, 2021, 11:45:41 AM

2. Besides bitcoin, "diversifying" to crypto is really really bad.

Yeah but don't you consider etheruem as a good second option of crypto diversification after bitcoin. At least in history, etheruem has also done a bull after bitcoin even times other altcoins don't have the run up, etheruem has profited hodlers after bitcoin.

Asuspawer09

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Quote from: Gozie51 on January 29, 2021, 09:55:54 AM

1. The growth level is high
The cryptocurrency market is still at a growing and developing stage. It is still a green horn type of business that many are yet to discover. People currently in the business are still regarded as early adopters and the market cap is still lesser compared to fiat.
So the percentage increase will be massive in the future.

2. Diversification of your business
It gives the opportunity of trying out another line of business instead of focusing on just the traditional kind of business that is fast disappearing.

3. 24/7 open for business
This is unlike the usual type of business that we have been used to. The cryptocurrency is not a stop for weekend business. It windows are open all day, morning and night.

4. Price don't remain up, it is a bear and bull market
What you need to do is to wait for the bear to go in. The bears are also signal to sell off if you decide.

5. There is more big and institutional buying going on.
This will bring potential for big gains because more investment will go into it. The whales are creating more grounds for bear and bull making increase volatility which is good for investment.

*There was no limit in cryptocurrency, you could buy a high volume of cryptocurrency and you don't need to buy a whole bitcoin.

*Cryptocurrency is much volatile than the stock market, giving a much more potential profit for the traders.

*Crypto has much lower fees compared to stock, usually caused a few dollars per trade.

I usually earn a good profit in trading crypto, stock is probably more on long term investment(most of it).

SquirrelJulietGarden

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When you say about anything, it would be said in 2 sides: pros and cons. There is nothing in the world is completely good or completely bad. Even when your opinion is not correct, not neutral, you should present your opinion with Pros and Cons.

Risks and chances are coming along with each other and you won't get chance if don't take risk. However, manage risk should be your priority as in crypto, risks to lose your money is very big. Invest in scam project, lose money. Trade with bad entry and bad exit price, lose money.

Cryptocurrency is a new industry and it is growing but promises from projects are risky, DYOR, don't trust their promises.

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What Ive don't like on stocks are the time schedule, we all aware that there is 24/7 trading for crypto and that's good for monitoring. I've been trading stocks on my local country before and what makes me shift is also the time duration the trading is available.

What I dont like on cryptocurrency is the legal approach of some projects. We all are aware that there are so many scams being introduced unlike stocks that are heavily regulated even before you start one.

pooya87

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Referring to cryptocurrency as "currency" then following that up with calling it business makes no sense. It is like saying US dollar is a business! Trading in Forex market could be seen as a job similarly trading cryptocurrencies but they are not a business by nature, unless you are creating shitcoins every week making money from scamming people that way.

Besides you can never talk about cryptocurrency in general and not mention the altcoin pump and dumps and the dangers that they impose to any trader who attempts at participating in the altcoin market.

mk4

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1. It's the same with stocks. Just like with crypto, you just need to pick the correct ones. It's just a lot harder with crypto because even if a certain team is public, there's still a good chance of exit scams and a far higher risk of failure.

2. Besides bitcoin, "diversifying" to crypto is really really bad.

4. ?

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IMHO.
2. Crypto isn't a business. Stocks aren't a business but the company that provides stock is the business. And that's the same as crypto, although there's no company that distributes it, they are the developers that made it but business and investment are two different categories.
3. Should be a 24/7 open market.
4. You sell if your portfolio is up and can take profit, in the bear or bull market.

Gozie51

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1. The growth level is high
The cryptocurrency market is still at a growing and developing stage. It is still a green horn type of business that many are yet to discover. People currently in the business are still regarded as early adopters and the market cap is still lesser compared to fiat.
So the percentage increase will be massive in the future.

2. Diversification of your business
It gives the opportunity of trying out another line of business instead of focusing on just the traditional kind of business that is fast disappearing.

3. 24/7 open for business
This is unlike the usual type of business that we have been used to. The cryptocurrency is not a stop for weekend business. It windows are open all day, morning and night.

4. Price don't remain up, it is a bear and bull market
What you need to do is to wait for the bear to go in. The bears are also signal to sell off if you decide.

5. There is more big and institutional buying going on.
This will bring potential for big gains because more investment will go into it. The whales are creating more grounds for bear and bull making increase volatility which is good for investment.

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