You Check Bitcoin Every Day, Don’t You?

It’s hard to ignore the crypto boom: some ridiculous projects raise millions and millions of dollars (or Bitcoins and Ethereums) through ICOs. You have a friend whose small bet to play cryptos turned out to be the best investment of 2017 and made him a small fortune; now he is talking about replacing his 1998 Civic with a Tesla . In fact, crypto currencies have already become an essential part of our everyday investment lives. More and more people check the crypto market regularly even if they don’t have Bitcoins in their crypto wallets (wait, you need a wallet to store Bitcoin?).

In any case, Bitcoin now is the hottest instrument and we check its price regularly. Most platforms and applications that allow you to buy crypto face outages due to levels of demand they weren’t prepared for. There is handful of apps out there that allow you track crypto currency prices, but most of those apps tend to focus on one thing — showing the price, leaving out important features or user-friendly interface. Only of few of those apps allow you to view regular stocks and crypto currencies in one application, making you download to separate apps and jump between them. That is is why we decided to add crypto to WealthTrack.

Here’s a number of reasons why monitoring Bitcoin is crucial

First reason: it’s volatile

Bitcoin’s price has been fluctuating a lot so far. Very few people understand how the blockchain works, thus Bitcoin, as a derivative of Blockchain, will most likely keep its volatility for the foreseeable future.

Second reason: volatility brings action

People keep talking about Bitcoin, celebrities tweet about it, CEOs and companies issue press releases because it’s red hot. Every day you see new millionaires posting screen shots from crypto exchanges making people think of going into this market.

Third reason: huge potential of Blockchain

As being said, Blockchain technology is the foundation of Bitcoin and other crypto currencies. Most of people involved into Blockchain implementation tend to admit the fact that this technology will most likely disrupt some of the industries and extend the potential of some beyond their current limits. As far as Bitcoin is tied to Blockchain, any news regarding the base technology will significantly affect the price of crypto currency.

Fourth reason: accessibility

The stock market still has its entry limitations, you have to shop around to find the most appropriate broker dealer and yet most likely this broker dealer will have its own requirements and limits. Yes, most of crypto exchanges and wallets have absolutely insane fees for withdrawing cash or selling the currency. At the same time, your entry level barrier is lower than the same one for stock market.

And when you decided to monitor cryptos regularly, we highly encourage you to start using WealthTrack Financial app: you can set up your alerts, create watch lists and more.