Why Ghanaians Should Consider Cryptocurrencies as a Life-long Investment
Cryptocurrencies have begun to redefine the traditional financial ecosystem. It has provided an alternative to several financial services, a security measure, a means to earn more, and an investment opportunity. As more people learn about crypto and integrate it into their lifestyles, they become aware of a more innovative and practical way to run their finances.
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It comes as no surprise then that Ghanaians are not left behind in this race and have gradually begun introducing cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), among others, in their everyday lives. For several people, Cryptocurrency is considered a store of value, a means to earn a living, and much more. However, they often fail to consider Cryptocurrency in the long term and what potentials it holds for them to achieve their financial goals.
Cryptocurrencies as an investment opportunity
The price of Bitcoin has risen significantly over the last few months, and it continues to rise as time passes. These extraordinary profits have boosted the fortunes of several investors, who have become millionaires and billionaires in recent months. Vitalik Buterin, one of the co-founders of Ethereum, became a billionaire as the price of ethereum reached its current ATH. Cryptocurrencies offer an opportunity to secure a lifelong investment, and there are several reasons.
Cryptocurrency Expansion and Growth
In essence, cryptocurrencies offer a practical means to achieve your financial goals by investing in them. For one thing, as more people become aware of cryptocurrencies and more crypto adoption policies are implemented, the value of cryptocurrencies continues to climb. Bitcoin, for example, began trading for around $0.0008 to $0.08 per coin and has now soared to almost $66,000. Countries such as El Salvador, which recently made bitcoin legal tender, and Cuba have been leading the way in cryptocurrency adoption. More importantly, cryptocurrencies are here to stay, and you can count on their continued growth and stability as an investment opportunity.
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The limitations of traditional investment schemes
The pension program, which has been relied on as a means of securing wealth for many years, has frequently proven ineffective. Apart from inflation, which has a tendency to depreciate the Ghanaian Cedi over time, a pension system can be equated to merely investing in an off-shore account without interest, resulting in no wealth growth. Investment is all about putting your money into something that will make you money over time. Pensions have yet to establish themselves in this regard. More importantly, the majority of the investment plans we encounter are short-term and sometimes even meant to cheat us of our money. Cryptocurrencies are a clever way to protect your money from fraudsters and devaluation while still being easy to manage. On the plus side, you don't have to depend on someone to manage your investments because you can manage them directly on your mobile device.
Additional security
The blockchain network enables cryptocurrencies, making them harder to falsify or manipulate. As a result, you may be assured that the funds in your cryptocurrency wallets are safe, secure, and unhackable. Given cryptocurrencies' expansion and growth across the globe, you can keep them locked up for months or even years, and they will continue to rise in value. You can keep them secured in your crypto wallets for months, years and withdraw them whenever you need them, knowing that your investment is safe and secure.
Investing in Cryptocurrency, on the other hand, does not imply that you should buy cryptocurrencies and pay someone to help you trade them for a profit. It is generally not wise to do so because you may become a victim of fraudulent scams and lose your hard-earned money. Instead, you should educate yourself about cryptocurrencies and choose a trading platform that suits your needs. Yellow Card's platform allows you to trade without the need for third parties.
You may buy and sell crypto in your local currency directly through Yellow Card, and you can rest confident that your funds are safe with the company's top-notch security features. That's not all, but there's more! Yellow Card Academy is a learning platform where you can learn everything about Cryptocurrency, blockchain, and how to achieve your financial goals.
Cryptocurrencies are a viable investment option that Ghanaians can incorporate into their financial independence journey. With Yellow Card, you may safely store your cryptocurrency funds, buy cryptocurrencies in your local currency, and profit from your investments.
Download the Yellow Card mobile App Now available on Google Play Store and App Store on iOS, or simply visit their website now at web.yellowcard.io to get started with crypto
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Jeffrey Owusu-Mensah (HOD Entertainment) Jeffrey is the Head of the Entertainment Desk and a graduate of the Ghana Institute of Journalism (GIJ) with over 10 years of experience in journalism. He started as a reporter with Ghana News Agency (GNA). He joined Primnewsghana.com in 2016 as an editor. He moved to YEN.com.gh in 2017 as an editor and has risen to his current position. You can contact him via e-mail: j.owusu-mensah@yen.com.gh
Aba Afful (Copyeditor) Maame Aba serves as a copy editor at YEN.com.gh. She naturally enjoys working with words and has an eye for quality content. She has a keen interest in cyberspace and wants to see YEN.com.gh produce more impactful, thought-provoking, and error-free content. Aba has five years of experience as a content writer, blogger, author, and proofreader. She graduated from the Ghana Institute of Journalism in 2017. She joined the team in 2021.
