Get the scoop on cryptocurrency!
Their roller-coaster performances are enough to make your head spin: up 500% one minute, down 80% the next, then up 1'000%. Cryptocurrency is making headlines (for better or for worse) and interest is growing from major and aspiring investors alike. What are the opportunities available and which cryptocurrencies are the best bet? Here’s the lowdown.
While the pandemic has been anything but kind to digital currencies, whose prices were hit hard when lockdowns were first enforced, they made a phenomenal comeback at the end of the year and even became a safe haven during hard times. My local baker used to tell me nothing is as good as gold. That just goes to show that one needs to change with the times! Compared to a savings account or life insurance policy, the returns on some digital currencies are so high they can seem like a scam. Aside from the potential for substantial gains and the opportunity to diversify your investments, cryptocurrencies give you a chance to stop relying on the traditional, centralised financial system by opting instead for the innovative and revolutionary technology known as blockchain. This technology, which has been around for a decade, makes it possible to store and send information transparently and securely, safeguarding transactions by cutting out the middlemen as well as the mistakes and risks of fraud that come with them. Everybody wins (well, almost everybody).
Are you token to me?
Bitcoin may be the most famous cryptocurrency around, but there are nearly 3'000 others in circulation, each represented by a limited number of tokens. Their stunning market capitalisations give the most popular ones away, including Ethereum, Litecoin, Ripple, Bitcoin Cash and Chainlink, to name just a few. Sky-rocketing prices go hand in hand with a commensurate level of volatility, but you don't need a master's in finance to see why so many people are drawn to these digital currencies, which are capable of jaw-dropping performances matched only by their volatility.
Looking to jump on the crypto train and buy one or more cryptocurrencies for yourself? Yuh enables you to quickly and easily convert most common currencies into the many cryptocurrencies available with the security and reassurance of a regulated Swiss bank. That's right! And if, like me, you don’t have the budget to spend 50'000 Swiss Francs on a single Bitcoin (not like that would be the brightest idea, anyhow!), you can add fractions of a Bitcoin or your preferred cryptocurrency to your wallet in just a click.
Welcome to Swissqoin
Prefer to go about your day rather than stay glued to the screen checking the news and prices on your cryptocurrencies? Feel free to opt for a more passive strategy with Swissqoin – a brand-new, secure cryptocurrency that is 100% Swiss! These tokens, launched by Yuh, are backed by reserves in Swiss Francs. Since the banking app reinvests part* of its revenue into them each month, these reserves are steadily growing. It works a bit like dividends do, but on a more regular basis and there is no input from shareholders. Consider it a good way to invest part of your savings passively simply by using the platform’s services. Swissqoins can also be bought, sold, held or transferred with no fees, just like all other cryptocurrencies. Don’t wait for them to make the headlines again – get started on your cryptocurrency adventure now! Your future might just thank you.
*The amount funded currently represents 0.50 CHF per month and per active client.