Why You Should Invest In Low Value Currency Like Steem And Not BTC / Doge
I am no expert in crypto-currency. I have no idea what I am talking about myself but this post is for other people who are also new to crypto and want to know what to invest in. You will have noticed that Bitcoin was worth around $7000 last year for just one BTC and today it is worth more than double that. What you might think is that this means if you invested in Bitcoin last year and bought one single Bitcoin then this year it would be worth over $14000 (more than double) so that is best.
However Steem was worth around $0.20 at the start of the year but it is now worth $4.10 at the time of posting this. You might think that there is no point investing in Steem because you would have only gained $3.90 over the course of a year. This is what I thought at least. This is wrong though. You are allowed to buy as many of one currency as you can afford so therefore is you bought 1000 Steem on the 15th of April this year it would have cost only $200. That means if you were to power down the Steem you bought and cash out it would be worth $4100!
If you pay $200 for something and get $4100 back just eight months later that is definitely much better than spending $7000 and getting $14000 back. Investing in Steem in April and selling it now would give you around a 2050% increase within just eight months! The investment into bitcoin last year and selling now would only give you around a 65% increase. Which is better? Obviously the Steem.
I am pretty sure this post is pointing out the obvious however I did not understand this until very recently so hopefully it will help someone out there. Thank you for reading and please upvote if this did help you.