Is it worth holding on to Cryptocurrencies?

The concept of cryptocurrencies is no longer the enigma it was nine years ago when Bitcoin first emerged. Cryptocurrencies, especially bitcoin, has grown significantly in popularity in spite of wild fluctuations; and this has led several governing bodies, such as the US SEC, to roll out regulations specific to trading and exchanging cryptos in mainstream markets.
In 2010, when bitcoin was virtually unknown save for a handful of tech enthusiasts, Laszlo Hanyecz, a bitcoin developer, made what is so far considered the most expensive pizza purchase ever after buying two pizzas using bitcoins valued at over US$80 million today.
Bitcoin Pizza Day
On May 18, 2010, Laszlo offered to make a deal and exchange 10,000 bitcoins for two pizzas in a bitcoin forum. If someone bought him two pizzas, he would pay the person 10,000 bitcoins. Someone in the forum commented that he could sell them for US$41.
By August 4, 2010, another participant in the same forum said “US$600 is a great deal for pizza I thought?”, indicating that the value of the 10,000 bitcoins had risen to US$600. Just a little over three weeks later on November 29, 2010, another participant commented “Greetings from November 2010! What’s is it eat pizza [sic] for US$2600?” — the price of the bitcoins Laszlo paid for the two pizzas had risen to a whopping US$2600.
So, in just 196 days, the value of bitcoins, which Laszlo said in a New York Times interview “[didn’t have] any value back then”, had risen by about 6341.5 %.
When Laszlo made the pizza deal, considered the first crypto transaction, one bitcoin was worth $0.008. On 22nd May 2018, the 8th anniversary of the day of his pizza purchase, 10,000 bitcoins were worth US$83,131,600.
This tremendous growth can be interpreted by many as an indication that cryptocurrencies are still in demand; and with their growing popularity around the world, it is no surprise that many would hypothesize its upward trajectory. According to data from Cryptocurrency Chart, as of September 2017, crypto market capitalization was as follows:
· Bitcoin: US$67 billion
· Ethereum: US$28 billion
· Bitcoin Cash: US$8 billion
· Ripple: US$9 billion
· Litecoin: US$3 billion
· Dash: US$2.5 billion
· NEM: US$2.1 billion
· Monero: US$1.5 billion
· OmiseGo: US$1 billion
These values indicate that there is still a large and growing appetite for cryptos.
The bottom line…
There is no need to give your cryptos away. You can use them as collateral to get loans in your local currency. If you need cash, exchange your cryptos for cash to get what you want on Swappit; a leading crypto-loan platform with affordable and flexible solutions.
Crypto lending is a growing sector that can be used by both individuals and businesses to meet their financial needs. Get instant credit without credit checks, affordably low rates, and customizable loan arrangements. This is a great way to get the financing you need without losing your cryptos.
Don’t let go of your crypto, just SWAPPIT for cash!
