Bitcoin Is an Irreversible Trend

In a case study on the use of crypto-currencies, presented by TV Liberal in Brazil, it was highlighted that Bitcoin is a trend that has no regression. Several personalities of the Brazilian crypto-currency ecosystem addressed the issue of crypto-currency and its possible uses as a means of investment, payment or reserve of value.

The program highlighted the existence of approximately 3,000 other cryptocurrencies besides Bitcoin (BTC), such as Ethereum (ETH), Litecoin (LTC), ripple (XRP), and ZCash privacy currency (ZEC). Although they all have monetary value, it points out the need for investors to educate themselves before investing their money, due to the instability in the price.

One economist interviewed says that bitcoin purchases can gain momentum because these crypt coins are marketed with a simple cell phone, so anyone who buys a cryptocurrency can buy something with their cell phone, in a quick transaction.

The report showed the use of the SmartCash crypto-currency, which has an active community in Brazil, in a chain of clothing stores. Investment advisor Idean Alves highlighted the benefits of buying crypto-currencies: You have the liquidity, you can operate at any time, in real-time, through the Internet. You have security because all transactions are encrypted and are in a system called blockchain. You can use it as a means of payment, and better, with a very reduced rate, much lower than in the bank.

However, the report does not fail to warn about the risk of fraud, and Alves says that it is necessary to be careful with promises of profitability. “Cryptocurrencies like Bitcoin have no guaranteed return on investment, so be careful when you see 2%, 3%, or 5% of advertised monthly earnings. As I said, cryptocurrencies do not promise profitability.”