This is 2023, BlockChain has seen lots of ups and downs since its initial Launch in 2009. Since 2009, it reached its peak and bounced back to bottom. Governments around the globe started to impose Taxes to slow down the Growth of the Crypto Industry. Some of the Major Countries Which introduced Tax in 2022 are INDIA(30%), the USA (up to 20%), Canada(up to 33%), the United Kingdom (25%), Australia (50%), and many others.
Do these details decrease your Courage to invest in the Cryptos?
Might be, I must say these are hard facts, you must know before investing in the blockchain. After, these harsh facts “A Question might arise in Your mind – Do you should invest in the BlockChain Market in 2023 or Not?”.
My Answer to This Question “You should invest more than before in the Cryptos”.
Let us dig into this statement in a Very Detailed manner; before we start the detailed discussion, let us discuss some basics.
What is BlockChain?
“Blockchain is a data structure that stores information in a secure and decentralized manner. It is a growing list of records called blocks, which are interconnected by utilizing cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and exchange information. Blockchain allows us to safely store information over a shared system, where everybody can see but can’t do any alteration.” – Definition of the Blockchain.
Many of you might not understand this. Let me explain this in a very easy manner:
There are hundreds and hundreds of computers connected with software, Each computer in that network only hosts a penny part of the software. So, it becomes very hard to alter the Software. If you want to learn in a detailed manner please watch the Video Below:
Video: What is BlockChain?
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Background behind BlockChain:
Across the Globe, there are almost two technologies behind Blockchain. Let us discuss these two:
Blockchain Technology:
We are almost hear in a month or two, that we don’t have privacy. Lots of privacy Concerns have been raised towards the big tech Giants like Google, Facebook, Apple, and many others. government across the globe are penalising these big bulls to bring privacy to our computers.
To solve security and privacy concerns, blockchain is the ultimate solution.
Here’s How:
Web3:
Web3 is an AI-based system where human interaction is almost 0% and all the decisions are taken based on the feedback of its users and very hard to alter by any user. The most beneficial thing you can make with this type of technology is a Search Engine and Social Media.
Currently, we using Web 2.0 which is almost 180 in comparison to Web 3.0. Here’s the Image which will illustrate these things in a very detailed manner:
CryptoCurrency:
It is also known as New Age Currency. Around the Globe, almost every Government is currently investing more than Billions of Dollars every year. These Governments will launch their currency such as CBDC by INDIA, and many others (You can Track the Launch of Digital Currency – Here).
On the Other Hand Currencies like Bitcoin, Ethereum, Dodge, and many others are purely decentralized Digital Currencies. These currencies are being regulated by open-sourced software. They have the highest level of privacy while these are some of the most popular modes of money-laundry by the evil people.
We get the basics, where, we need to invest if we want to invest in Blockchain Technology.
Best way to Invest in BlockChain:
There are almost two ways to the blockchain. These two are “Invest in Crypto” and “Invest in Blockchain Technology”. Let us discuss these two investment options in a Very Detailed Manner:
Invest in Crypto:
The market is flooded with crypto-currencies. Many of these cryptocurrencies are trusted in a great way. Some of the most trusted cryptos are:
Bitcoin:
Bitcoin is the most trusted cryptocurrency available in the market. You can use Coinbase or Binance to initiate investments. It is created for its scarcity which gives its exponential growth potential, despite its volatile nature. I have a great suggestion you should take a look at Historical trends, regulatory shifts, and technological advancements should guide investment decisions.
Ethereum:
Ethereum is the second most popular blockchain cryptocurrency, renowned for its smart contract functionality, enabling decentralized applications (DApps) and the creation of new cryptocurrencies (tokens). Its native cryptocurrency, Ether (ETH), fuels transactions and operations on the network. Considered a robust blockchain for its versatility and potential, Ethereum offers investment opportunities. To invest in Ethereum, similar to Bitcoin, use secure reliable exchanges such as Coinbase or Binance.
Dogecoin:
Dogecoin currently become popular due the Elon Musk and its electricity efficiency. Initially created as a joke, it has garnered a substantial following and speculative interest. Similar to other cryptocurrencies, like Bitcoin or Ethereum, Dogecoin can be traded on various platforms, but it’s crucial to approach its investment with caution due to its high volatility.
We have many other cryptocurrencies that can let you invest in Blockchain.
Invest in Blockchain Technology:
In my experience, investment in blockchain technologies is the most efficient method and has the highest return possible. Our world is shifting from Web 2.0 to Web 3.0, and one of the great smackdowns of this is “Google Chrome is going to be cookie-less from April 2024”.
When you are able to create the tech of the future, then it will be more beneficial in economic Terms for You.
Born in New York, pursued B Tech from Michigan University. On this website Jivakare, I am Going to share my Whole experience regarding all about Tech.