Investment changed when cryptocurrency came along. Before the advent of cryptocurrency, one way of creating wealth has always been the stock market. Even though there are days of highs and lows in the stock market, it has always been the best way to create wealth. Cryptocurrency has changed the way saving, trading and most importantly investment is being done.
Now let us examine the following cryptocurrencies and how you would be a millionaire today if you had invested $10,000 when they first came.
Ethereum is at the top of the list of the three cryptocurrencies because it is the cryptocurrency that has performed best in the last five years. If you had bought Ethereum five years ago and had left it to grow, today the value of your coins would be a massive $2.52 million. Ethereum has thrived because of its application that surpasses the financial environment. Ethereum’s blockchain design has the potential to reshape the supply chains, handle real estate or title transfers, ensure tax regulation and compliance, improve energy-trading platforms and a host of other things, unlike other cryptocurrencies like Bitcoin that are designed to accelerate the process of payment and ensure that they are done in a transparent manner and ensure that they are logged permanently, validated and settled.
If you had bought Dogecoin worth $10,000 half a decade ago, today they would be worth about $1.75 million. Elon Musk has been a major contributor to the growth of the coin which became a household name quite recently. After tweeting the words ‘DOGE’, the price of the cryptocurrency went up in value. Dogecoin was created as a joke in 2013 as a way of keeping with the trend which was cryptocurrency and the Shiba Inu Dog meme. What started as a joke has made some people millionaires today. Although Dogecoin is one of those cryptocurrencies that grew astronomically, it still faces some form of rejection from merchants most especially because apart from increasing in price by over 1000 percent after Elon Musk and other investors influence, there seems to be no other glaring reason why the coin went up.
Bitcoin can be addressed as the god or may be the king of cryptocurrency. It is the most famous, most widely accepted and most-sought-after cryptocurrency, and if you had invested $10,000 in Bitcoin five years ago, today it’ll be worth $1.15 million. Bitcoin has enjoyed the acceptance of the public and it is one of the most preferred way of holding money. Bitcoin is so popular that the World’s Richest Man; Elon Musk, at the beginning of this month invested the sum of $1.5 billion through his electric vehicle company; Tesla. America’s oldest bank BNY Mellon also recently agreed to start transacting the cryptocurrency for its clients while payment channels like Mastercard have adopted the cryptocurrency.
Although Bitcoin has recently suffered some lows, this does not reduce people’s thirst for it and it is indeed still believed that the cryptocurrency will rise in price again. In fact expert still stand on their opinion that the cryptocurrency will get to a milestone of $70,000 before the middle of the year.