Even if you know nothing about cryptocurrency, you are probably familiar with Bitcoin. Despite debuting in 2009, the currency became well-known in 2017, when one Bitcoin was worth $19,873. However, there are other exciting crypto trading options on the market, some of which are outpacing Bitcoin. So why has Bitcoin dominated the market?
Besart Hoxha is a well-known cryptocurrency trader, and he has made millions of dollars from trading his assets. He is a 27-year-old entrepreneur who discovered crypto in 2011 at the age of 18, and he has been hooked ever since. “Bitcoin is the most popular cryptocurrency because it’s gotten the most press,” he says. “Even your mom probably knows about it. Bitcoin has all of the perks of crypto, including bypassing fees, remaining anonymous, and enjoying fast transaction speeds.”
According to Besart, Bitcoin can be a great introduction to the crypto market for both beginners and young people who are just starting to invest. “There’s a lot of information on the internet about Bitcoin. It’s easy to research and figure out whether it’s the right investment for you. Different cryptocurrencies can be trickier.”
Despite the popularity of Bitcoin, Hoxha has branched out to other cryptocurrencies. “When I started investing, Bitcoin seemed daunting,” he says. “So, I joined the BitcoinTalk forum and decided to take some time and learn more.”
His first big investment was in Ethereum in 2015. It’s an alternative cryptocurrency that was about to hit the market. “I took a loan out at the bank and invested everything I had,” he says. “I knew it would be lucrative, and I had faith in myself that my predictions were correct.” His investment paid off in 2017 when he turned in his Ethereum for millions of dollars.
Overall, he suggests branching out from Bitcoin. “I think Bitcoin has had its day in the sun,” Hoxha says. “There are tons of other cryptocurrencies out there that you can invest in and have lots of luck with. Even though Bitcoin is still the most popular, it doesn’t mean you have to limit yourself.”
Cryptocurrency is a growing market, and Bitcoin doesn’t show any signs of going away. Hoxha urges anyone interested in this world to do their research and start making investments over time. It’s possible to make lots of money with crypto if you’re willing to put in the hard work.Opinions expressed here are the opinions of the author. Influencive does not endorse or review brands mentioned; does not and can not investigate relationships with brands, products, and people mentioned and is up to the author to disclose. VIP Contributors and Contributors, amongst other accounts and articles, are professional fee-based.