When it comes to investment then start looking for many instruments which are offering better ROI (return on investment) and we also check for history to have an Idea about previous performance. But looking at the historical data doesn't guarantee that future returns will be same. I mean if it performed well before and people have got very good returns that doesn't mean it will do the same or vice-versa.
In India majority of people do invest on safe instruments like fixed deposits, property and real estate, or insurance endowment plans etc. There are people who invest on share market as well however investment in cryptocurrencies is quite low. I have talked about few of my friends if they have any investment in cryptocurrencies and their answers were like- "How can I Invest on something that has no physical presence". I think they are right because they have been investing on risk free instruments so switching to cryptocurrency where there's no certainty is not easy.
I used to have all my investment in same form like property and fixed deposits etc but in the year I did change and invested huge amount in cryptocurrency because one of my friend suggested me to do the same. I did my own research on Bitcoin and other top 10 coins as per market cap that time. Things look good to me and I invested major part of my money all in cryptocurrencies but I managed to have diversified portfolio. Starting within Bitcoin, Ethereum, Bitcoin cash and ripple (now Xrp) etc I did put all my money I had in my hand. It was the period of Nov and Dec 2017 and everywhere it was like cryptocurrency market will grow even more and its worth investing and HODL. I Invest always for long term because I think that's less risky and O followed the same strategy.
Strategy and reasons for choosing Crytpo for investment
My one of the simple strategy to invest for long term and in multiple products to keep my portfolio diversified. I have been following the same since when I started working fron year 2007 and same I followed in crytpo too. Before investing in Cryptocurrencies I had completed about 10 years of Investing in traditional way and I saw one of my best friend Invested in Bitcoin when it was about 800$. He bought 2 that time and asked me to do the same but because that time I couldn't do it for some reason and done it when it was on almost peak side. My friend's money got multiplied significantly and he used to tell me that this is new technology and its time to invest in technology if you want better returns otherwise fixed deposits in bank offers only about 8% per annum. After my own research I did the Investment in cryptocurrencies and even that time my goal was for 5 years untill 2022 from the year 2017. I am not at all worried even when market was too low and Bitcoin was trading at less than 4k USD. I know that I have invested in technology which is yet to get mass adoption and even facing challenges to get acceptance in many countries.
My reason for choosing cryptocurrency sector for Investment is because its a technology and technology is the future. There are many ways to earn by investment in technology like we can fund the project first then profit sharing and people Invest in technological development and earn interest on that too. All these things look tempting but the only thing need to have is patience. The first thing to have with Investment is patience else you might risks your money. My father says that never take hasty decision in Investment and when everyone sell off then buy because that time you can get the things for rock bottom price and then hold as per the goal. I followed his advice and not going to sell anything prior to my goal which is 2022 and even I have same long term strategy with STEEM.
This is my submission post for @steemleo writing contest and here's the link of contest post. If you like the topic and want to share your thoughts as well then its still open and you can participate.
Thank you so much.