Investing in crypto can be a smart move for those looking to grow their wealth in a passive manner. Unlike traditional banks, many crypto exchanges offer points and rewards for owning and trading crypto through their platform. With the rise of decentralized finance (DeFi), you could can earn passive income through staking, liquidity provision, and yield farming. While there are risks associated with crypto investing, such as price volatility and security concerns, I believe that the potential rewards outweigh the risks.
Bitcoin has slowly been rallying since the start of this year, bringing up many of the alt coins, and contesting the stock market. The S&P 500 is still down 5.55% since last year while bitcoin pauses just under 25k. Historically, Bitcoin has had some of the most significant movement in the month of February. From the 200% increase in February 2011, to the 60% decrease in February 2014, Bitcoin has given us many chances to take advantage of the digital economy. To put things into perspective, If you invested $1000 into Bitcoin 3 months ago, it would be worth about $1500 right now, an amount that no conventional bank would give you for holding on to your cash. With $30K just over the horizon, I believe it’s about to be another historic February and It’s never been a better time to get involved with crypto.
My Top 3 Picks to invest in 2023
Solana is among the fastest cryptocurrencies
Ranked 3rd on NFT sales
Down 92% from its all time high (@ time of publication)
Ranked 1st on NFT sales
2nd largest in the world by market cap
Better projects with utility being built on its ecosystem
Shanghai hard fork* March 2023
Safest
Bitcoin NFTs
Bitcoin Halving coming soon
Best in terms of liquidity
Disclaimer: I am not a financial advisor nor do I seek to provide trading or accounting advice. However, I am looking to expand my network with like minded individuals that wish to connect for educational purposes. Follow me on twitter for my blog post updates!
Note: at the time of publication-
SOL = $23.7
ETH = $1618
BTC = $23.7k
Posted on February 23, 2023 in crypto by henryoviedo93
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