The year 2021 due to the pandemic has become the year when more and more Romanians considered investing in cryptocurrencies as an investment for the future. In fact in 2021 Romanians were among the biggest investors in cryptocurrencies.
Cryptocurrencies are becoming more and more attractive to the Romans. Some for the hope of getting rich quick and others because they have started to see more and more that it is a technology of the future, a technology of the future especially because of the many possibilities in which cryptocurrencies and blockchain can help shape the future.
Blockchain technology is often confused only with cryptocurrencies, this is not entirely untrue, blockchain technology is based on the use of cryptocurrencies but it is not only that, blockchain technology can have multiple uses, from financial, educational to medical and scientific.
Many consider investing in cryptocurrencies just to speculate a rise or fall in price of certain cryptocurrencies based on their volatility, hoping for quick gains.
But investing in cryptocurrencies is not just that, cryptocurrencies are an asset, a long-term investment. If you look at the price 3-4 years ago and the value of Bitcoin now you will realize that however much it has fallen from its historical high if you invested 3-4 years ago you would have a return of over 400-500%. No other investment could bring you a better return, so :
Investing in cryptocurrencies and how do we invest?
How do we invest in cryptocurrencies: we can choose to invest in cryptocurrencies by choosing a decentralized system or a centralized system where you will have to give your personal data. I prefer the second option because it gives you the possibility to buy cryptocurrencies easily and also to withdraw them easily on your card directly without much hassle and with very low fees. I prefer to choose the following exchanges: Binance and Coinbase
I prefer them because they are secure, easy to use and you can withdraw anytime and your investment is safe.
But what does investing in cryptocurrencies mean for us? An investment in cryptocurrencies must be long-term, that is if we want to call it an investment. You need a plan of at least 3-5 years to have the highest return. The market will fluctuate, we will see how the cryptocurrency we chose to invest in will grow a lot and we will be tempted to sell quickly for an easy gain. But also a steep drop and we will want to sell to avoid losing even more!
When investing in cryptocurrencies we should only invest money we don’t rely on. We invest a small amount monthly if needed.
Investing in cryptocurrencies can bring you huge gains in the long run but there are situations where you can lose everything too.
So it is best to invest the money we can afford to lose!
Legalization of cryptocurrencies in Romania
Cryptocurrencies are not banned in Romania. But neither are they fully adopted and accepted. We can buy, own and sell cryptocurrencies in Romania. But it is more difficult to use them in Romania.
Crypto ATMs have appeared in Romania but we can’t go to the mall or any shop to buy something with them. Some banks accept to buy and sell cryptocurrencies. Others only allow you to buy, and others forbid it.
When cryptocurrencies will have a legal framework in Romania we will see their true use. We will be able to buy and sell anything with them. And last but not least we will be able to use blockchain technology to our advantage.
Let’s look at the Killnet attack on Romanian government websites. If they benefited from blockchain technology it would have been impossible to block. But using current, years-old technology was easy!
Blockchain technology and cryptocurrencies may be the technology of the future, it’s just up to us how we choose to invest in it.
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