Top 5 reasons why investing in cryptocurrency is a smart choice in 2024 


An overview:

“In investing, what is good is rarely profitable.” This quote says it all. If you choose safe and comfortable investments, you will make little money because they don’t involve much risk. However, consider riskier options like white label crypto exchanges to earn more money from your investments. They can be up and down, and you can’t be quite sure what will happen, but they also have the potential for big wins. 

According to Coinmarketcap, the global cryptocurrency market cap is 1.33 tons in the last 24 hours. Bitcoin dominance is currently 52.75%, and all stablecoins are valued at $32.38 billion. The amount of money invested in the cryptocurrency market is increasing daily, which clearly shows its attractiveness in the eyes of investors. Markets have been bullish in recent months due to several factors. The price of Bitcoin broke the long-term mark of $28,000 and is now firmly between $32,000 and $33,000.

Many investors speculate that Bitcoin will continue its upward trend, replicating other cryptocurrencies and gathering momentum in 2024. Important factors to consider investing in cryptocurrency in 2024 are Bitcoin ETF, 2024 Bitcoin Halving, efforts by different countries to regulate cryptocurrencies, increasing acceptance of cryptocurrencies in various industries, and their strong security measures. Keep reading as we discuss these factors in detail in this blog. 

Bitcoin ETFs:

The positive news surrounding the approval of a Bitcoin ETF has created a buzz in the cryptocurrency market. You may wonder what a Bitcoin ETF is and why the industry needs one. A Bitcoin ETF or Exchange Traded Fund is a way for people to invest in Bitcoin without actually owning or managing the cryptocurrency. It is like a financial product that can be bought and sold on the stock market, like stocks or traditional mutual funds.

ETF makes it easier and safer for both big investors and ordinary people to invest in Bitcoin money. This attracts more people to invest in Bitcoin, and the higher the price, the more people want to buy it. Additionally, a Bitcoin ETF can make Bitcoin more reliable as an investment. 

Big investors unsure about investing in cryptocurrencies because of the rules can feel better now that ETFs are regulated. This could lead to even more people wanting to invest in Bitcoin and drive the price up again. According to several unconfirmed rumors, the ETF will be approved within a few months. Therefore, Bitcoin ETF is one of the main reasons to invest in cryptocurrencies in 2024.

Countries that regulate crypto:

Most countries want to regulate cryptocurrencies as their adoption by various businesses is increasing. The report says the British government hopes to bring cryptocurrency industry regulations to parliament by 2024. The UK is developing faster than other countries known for technological development. Although several bills are being discussed in Congress, the US needs to catch up to other countries in creating formal federal regulations for the cryptocurrency industry. 

On the other hand, PayPal receives a crypto license from the Financial Conduct Authority (FCA) of Great Britain. Such a positive approach of a developed country like the UK is reflected in crypto prices. This is one of the main reasons to consider investing in cryptocurrencies in 2024.

Adoption of business: 

Microsoft, PayPal, Tesla, and other well-known companies have long accepted Bitcoin payments. On the other hand, major car manufacturers such as Honda and Ferrari started accepting cryptocurrency payments in October this year. Honda accepts around 46 cryptocurrencies as payments, including XRP, Dogecoin, Bitcoin, and Ethereum. 

The use of cryptocurrencies by large companies increases their appeal to the general public. As a result, many individuals can start buying cryptocurrencies, which can affect demand. So, it will affect the price of cryptocurrencies. That is why it is one of the most important fundamentals of cryptocurrency investing in 2024.

Bitcoin Split in 2024: 

Bitcoin splits occur approximately every four years and have had a major impact on Bitcoin prices in the past. The amount of new Bitcoins created for each mined block is halved in a halving. 

This means that fewer new Bitcoins enter the system at a slower rate. In the past, Bitcoin splits have been associated with bull markets and significant price increases. Still, it is important to remember that what happened does not guarantee what will happen in the future. While the halving event may have an impact, it is only one part of the complex world of the cryptocurrency market.

Advanced Protection: 

Cryptocurrencies are digital assets that use blockchain, famous for its strong security features. The peculiarity of the blockchain is that it is not controlled by one group, which makes it difficult for anyone to break it. All transactions are written to a public ledger that cannot be changed, making the network highly secure and reliable. To access and process cryptocurrency, you need a secret key, which is very secure if used correctly. 

Cryptocurrencies are not controlled by any specific government or organization, which gives them independence. Some cryptocurrencies, like Ethereum, can create smart contracts. They are like automatic contracts that can do things themselves, reducing the possibility of cheating.

Bottom line: 

In conclusion, 2024 looks like an exciting time for people investing in cryptocurrencies. There are five good reasons for this:

  1. More and more companies, institutions, and even governments recognize the importance of cryptocurrencies, which means they have a bright future.
  2. Cryptocurrencies have been known for their price fluctuations, which can lead to big profits, but you need to be careful and diversify your investments to reduce risk. As we head deeper into 2024, it’s clear that cryptocurrencies aren’t just a passing trend; they are changing the world of finance.
  3. Using a crypto exchange to start a profitable cryptocurrency business can be smart in 2024.