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The Biggest Problems With Cryptocurrency And Why It’s a Bad Investment

Herbert GoodeLeave a comment
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Cryptocurrencies have been all the rage lately. Everyone is talking about Bitcoin, Ethereum, and Litecoin. Some people invest in them, thinking they will make a fortune. However, many experts believe that cryptocurrencies are not a good investment. Still, you can make a good outcome if you know how to trade using the Immediate edge. Unfortunately, despite crypto’s popularity, it’s not a good investment option for someone serious about investing their money for a better future. Here is why crypto is not a good investment.

Lack of Intrinsic Value

monitorOne of the biggest problems with cryptocurrency is that it doesn’t have any intrinsic value. This means it’s not backed by anything tangible, such as gold or silver. Cryptocurrency is simply a digital asset that can be used to purchase goods and services. However, its value is based solely on supply and demand. If there’s no demand for it, then its value will decrease. The value of a cryptocurrency can also be affected by external factors, such as negative news.

For example, if there’s a hack on an exchange or a major country announces that it will ban cryptocurrencies, the value of all cryptocurrencies will likely drop.

Volatility

Another reason why crypto is not a good investment is that it’s highly volatile. Not only will it go up and down in value daily, but its value can also change drastically over the course of a few months. This makes it very difficult to predict what will happen with cryptocurrency in the future. For example, Bitcoin started off in 2017, being worth around $1000 per coin. By December, it was worth close to $20000 per coin. However, in 2018, the price of Bitcoin crashed, and it’s now worth around $6000 per coin. So, if you had invested $1000 in Bitcoin in 2017, you would have made a lot of money. But if you had invested in 2018, you would have lost a lot of money.

Pump and Dump Schemes

Another reason to be wary of investing in cryptocurrency is the pump and dump schemes common in the market. These schemes involve people buying up a lot of a particular cryptocurrency, artificially inflating its price, and then selling it off once they’ve made a profit. It often leads to the price of the currency crashing soon after. Pump and dump schemes are illegal in many other markets, but they’re unfortunately common in cryptocurrency.

Lack of Regulation

coinsIf you think that investment like cryptocurrency is risky, then you’re not alone. Many financial experts believe that cryptocurrency is too risky to invest in. One of the reasons for this is that it’s not regulated by any government or financial institution. This means there’s no one to protect you if something goes wrong. For example, if you buy a cryptocurrency and the price crashes soon after, you’re not going to be able to get your money back.

In contrast, if you invest in stocks or bonds and the price goes down, you can always sell them and get your money back. So, what’s the bottom line? Cryptocurrency is risky, and you should only invest in it if you’re prepared to lose all of your money. If you’re unsure whether or not you should invest, it’s best to consult with a financial advisor. Not only that, but you …

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Promotional Products

4 Ways on How Promotional Products Can Help Your Business

Herbert Goode
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During these times, when businesses should always have to think of new concepts to always stay on top of their game, having promotional products can genuinely help end a company’s dry spell and quell the competition.

Promotional products can be a way to rebuild a relationship with customers. With stiff competition in the business industry, promotional products can build trust and loyalty. Customers will feel important and would surely reciprocate you by patronizing your products and services. In short, promotional products are strategies that will ultimately increase your sales and profit.

Here’s how your promotional products can help your business.

promotional productsImprove Your Brand’s Image

A company that is seen as a purely business entity will be shunned by customers. One who sells products and services are seen as traders who are not to be trusted. It is different when you let customers treat you as a trusted friend rather than a salesman who always thinks of profit. A brand’s image can truly be improved by giving promotional products during anniversaries and essential days like Thanksgiving and Christmas.

Ensure Return of Investment

Spending on promotional products is not a waste of money. It is investing your money on something that has great potential of getting back your expenses with countless benefits for your business. As promotional products are part and parcel of your advertising, it is one advertising concept that has an ensured return of investment. Give 5 cents worth of a piece of your promotional product to a customer, and he will buy $200 worth of your products.

Enhance Positive Perception

Customers will feel that they have been granted a big favor when they receive promotional products. That should be a starting point for a relationship to blossom. Relationships between businesses and customers are the perception they have on your company. When customers feel that they are more than clients, that’s the time they can trust a company. Trusting a company will mean trusting their products and services also.

promotional productsIncrease Awareness

Choosing the best promotional product for your company can help you increase customers’ awareness of your brand. Don’t select promotional products that can last for a few months, like shirts and caps. Instead, choose nice items that will be left for years on display cabinets or some things that are usable like key chains. Honestly, selecting the type of promotional product can help customers remember your business for good reasons for the longest time.…

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