Feel pressure to propose this Holiday? Instead, stuff your loved one’s stocking with diamond coins that have the potential to grow as much as your love! Word on Wall Street is that INX Limited will unveil the world’s first diamond commodity with the Diamond Standard Coin. Eyes will sparkle with the Coin, which is both a digital and physical asset: a standardized set of diamonds with a wireless chip. The availability of the Coin on the INX platform is pending regulatory approval for the twenty five million initial public commodity offering. A letter of intent has already been signed—which means everyone’s cryptocurrency wallet may be shining brighter this Holiday season.
Cryptocurrencies are limited in number. The local currency you currently use in your daily life is infinite. Indeed whenever your government wants to keep the economy running, or pay for a new social program, it simply prints more currency. This has been exacerbated by COVID, where government safety nets are not being paid for by higher taxes, but rather by higher money printing. Investors in cryptocurrencies see them as life rafts for wealth. If you have your savings in your bank, the purchasing power is decreasing by the day, and you make little to no yield. Indeed in some countries a negative yield. Meanwhile if you move your wealth into cryptocurrencies, you see your wealth remain afloat. You can earn a solid yield, and the purchasing power is increasing. Best of all, there is no government interference and there is limited supply.
What is a smart investment for people who are unfamiliar with investing more than just mutual funds and 401Ks?
Many investors are dipping their toes into crypto through investment vehicles like GBTC. This is a Trust company that purchases Bitcoin, and then via an investment vehicle offers exposure to its price moves to investors.
How can people dip their toes into investing in cryptocurrencies without risking too much?
The best way to not 'risk too much' is to only invest that which you are happy to lose. If the position size makes you uncomfortable, then reduce the position size. For more information on INX, visit https://www.inx.co and follow @INXLimited
If a person invests in a cryptocurrency, how can they "cash out" on the investment when ready?
That is simple. Once you have purchased cyrptocurrency, you will be holding it in an electronic wallet, perhaps on an exchange. You would go to that exchange and sell out of that cryptocurrency, reversing the original transaction. It's like when you go to the bank and buy EUROS for your vacation. After the vacation you come back to the bank and sell them back the EUROS.
Can cryptocurrency be used to purchase products?
In the US, you can buy a SEC registered security (INX Limited is the first), and a myriad of shops, hotels and products now accept them as payment. Indeed, even PayPal now offers their customers the ability to buy and sell crypto through their app.
Where is cryptocurrency heading in 2021?
Cryptocurrency adoption is just getting started. There is a limited supply, with an exponential growing demand from institutions, retail and corporations. The more people learn about them, and the more they look to allocate their investment, then the higher in price the cryptocurrencies will go.