CryptopayAsks #4. When did you first buy cryptocurrency & which one?
We continue talking to our users in our #CryptopayAsks sessions. This time we asked our readers when they first purchased cryptocurrency and which coin it was.
It comes as no surprise that Bitcoin was the first cryptocurrency that people bought. However, the time of initial purchase varies: some of our followers bought their first bitcoins in 2011, others joined the cryptocurrency frenzy only in 2017.
Depending on the entry time, our readers could have made different profits if they were patient and kept their coins till the price boomed.
Bitcoin experienced its first rally in autumn 2013, when Its price rose from around $130 up to $1,100 in a matter of only 1.5 months. The inevitable correction followed afterward and the price halved in one week.
Those who managed to enter the crypto market in September and sold off their bitcoins during the beginning of December have made very good profits.
Investors who entered bought Bitcoin at its highest level, but kept their funds patiently up until autumn 2017, may also receive congratulations.
Bitcoin’s price fluctuated between $400 and $700 all throughout 2016, but didn’t make any significant moves upwards or downwards from these values.
However, those who saw the potential of the decentralized payment technology and stuffed up their pockets with bitcoins have significantly increased their worth.
Ripple entered 2017 at the level below $0.01 and kept steady around this number up until Bitcoin’s first rise at the end of May. At that time, Ripple astonished the cryptocurrency community by making x70 in a month as its price increased from $0.006 to $0.43.
This incredible growth wasn’t left unnoticed. Those who took notice to Ripple and purchased a bunch of coins may have hit the jackpot in late autumn when Ripple made x15 as it grew from $0.25 to $3.84 in a matter of around 3 weeks.
Many people wonder if it’s too late now to buy well-known currencies as those mentioned in this article, since they appear to have reached their highest value and as of now doesn’t seem to recover to this level anytime soon. But it’s worth mentioning that apart from Bitcoin, there are many other promising investments out there.
Let’s have a look at our token, CPAY. Right now, it’s already a good source of passive income that gives token-holders a piece of 10% of our monthly revenue. Naturally, all of our products and the performance of our business directly contribute to the monthly revenue. Products like our digital wallets and merchant processing are the biggest contributors at this moment, but with the reinclusion of our card programme and the implementation of XRP and ETH accounts the revenue is expected to increase substantially and with it the token price.
As CPAY’s price is low at the moment, it’s the best time to buy some coins now. CPAY is available for trading at at HitBTC and IDEX right now. Furthermore, once a utility feature is added to the token this will positively affect CPAY’s value as well as making it more susceptible to be included on “tier-1” exchanges while at the same time exposing it to a greater pool of would be token-holders.
Note: this article is a personal opinion. Before making any investment decisions you should consult with a professional.