The biggest crypto investing mistake is also the easiest to avoid
The biggest, and I mean biggest, mistake I see cryptocurrency investors make is completely preventable.
The mistake they make is to focus 100% of their interest (and money) on digital currencies like Bitcoin and Ethereum …
And yet spend 0% investing in the underlying technology that makes those cryptocurrencies possible.
I’m talking about blockchain. More specifically, the companies that keep finding new ways to make transactions more secure, all across the globe.
Blockchain technology is much-bigger than just serving as the backbone of cryptocurrencies. However, that itself is a mighty task, one that is changing technology as we know it.
You probably know that blockchain is a chain of “blocks” (digital information) stored in a public database (the “chain”). But what makes it so special — and so valuable — is its revolutionary charge of having data distributed but not copied.
The goal of blockchain is to allow digital information to be recorded and distributed, but unable to be edited. That tamper-proof record-keeping function is what gives blockchain unlimited opportunity. And its use is about to skyrocket.
MIT Technology Review expects blockchains to become commonplace this year. Its writers see 2019 bringing a serious amount of adoption of the technology.
“2017 saw the blockchain technology as a revolution designed to disrupt the existing global financial framework. In 2018, it turned out to be a disappointment. But in 2019, Blockchain technology will begin to become mundane.”
Mundane? In other words, blockchain use is going to become as widespread as email and surfing the internet that we don’t even think twice about using it.
MIT Technology Review expects blockchain to revolutionize healthcare, supply-chain management, the entertainment industry, banking sector and the retailing industry.
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For example, many of the world’s largest retailers have already begun to adopt blockchain technology as part of the core operations. Walmart, for example, has gone all-in on blockchain to manage its global supply chain. The MIT Technology Review explained:
“Walmart has been testing the viability of the private blockchain system as a food supply tracker. It says it will begin to use the system in 2019 and has reportedly told its suppliers to join the initiative by September this year.”
Amazon, too, has jumped on the blockchain bandwagon. The online retailing giant is now offering two blockchain-based services through Amazon Web Services, its secure cloud-services platform:
- Amazon Managed Blockchain, which will allow users to create blockchain networks.
- Amazon Quantum Ledger Database, which will allow customers to replicate a copy of their Amazon blockchain network activity and use sophisticated analytics to optimize their business.
The potential for these two services is so large that it could ultimately surpass Amazon’s vast retailing business.
Let me tell you: THAT IS SAYING SOMETHING!
If you already own Amazon or Walmart, congratulations for picking such great stocks. But the some of their biggest profits in the very near future are going to because of blockchain, not retailing.
The problem is that both companies are so massive in size that their blockchain initiatives are dwarfed by their primary businesses.
To really make life-changing profits from blockchain, you need to take a look at the companies providing the picks and shovels of the blockchain infrastructure.