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At the start of 2023, a KPMG survey revealed that 9.4% of French people had already taken the plunge into cryptocurrencies. In 2024, the debate over whether to invest in these digital assets is more relevant than ever. Bitcoin, the flagship of these virtual currencies, has seen a spectacular increase of 160% since the start of the year, demonstrating a craze that is not waning despite past turbulence.
Above all, the king of cryptos has just made a remarkable entry onto Wall Street with a first regulated product (ETF) integrating bitcoin. History !
Do these positive signs make cryptos a wise investment in 2024, after two very difficult years ? Yes, under certain conditions .
The rebound of cryptos: a lasting phenomenon?
After a nightmarish 2022, marked by resounding bankruptcies like those of Terra Luna and FTX , and a rather gloomy 2023, the year 2024 seems to be starting a significant rebound in the cryptocurrency market.
This renewed optimism is growing ;#8217;explained by several key factors. First, the anticipated end of the rate hike cycle by the markets favors risky assets, including cryptos. In addition, major developments such as the launch of regulated financial products are structuring the market.
For example, the American SEC has just approved a first bitcoin spot ETF.A historic entry into Wall Street paving the way for a more massive democratization of these investments. But then where and how to invest ?
Where to invest in the vast universe of cryptocurrencies ?
With more than 2 million cryptocurrencies listed on Coinmarketcap, choose where to invest can be complex. Bitcoin and Ethereum remain the safe bets, concentrating a significant part of the total market value.
For beginners, these options are recommended, but It is also important to carefully analyze models and competitors before diving into other digital currencies.
How to invest in cryptocurrencies ?
Investing in cryptocurrencies can be done directly via specialized exchange platforms, such as Binance or Coinbase. It is recommended to favor players registered as PSAN (digital asset service providers) in France. This is the case of Binance for example.
It is also possible to invest in listed companies linked to cryptocurrencies or specialized funds. Regular investment of small amounts is recommended to smooth entry points in this very volatile market. Some banks or neobanks like Revolut also offer investments in cryptocurrencies directly from their application.
Secure your investments
Regulation is starting to take an important place in the world of cryptos. With cases of fraud and embezzlement, notably the FTX affair, regulators, including in Europe, are strengthening their legislative framework, as evidenced by the MICA regulation.
For investors, securing their assets remains essential, particularly through the use of physical wallets. Also remain cautious of the risks of fraud that are always present in this sector.
5 tips for starting to invest in cryptocurrencies
- Only invest what you are willing to lose
- Prioritize safe cryptos (bitcoin, ethereum) to start< /li>
- Diversify your portfolio
- Use PSAN certified applications
- Use a physical wallet to secure your cryptos
- Bitcoin and cryptocurrencies will experience renewed interest in 2024, marked by regulatory innovations and a significant increase in their value.
- Investors have several options , ranging from dominant cryptocurrencies like Bitcoin and Ethereum to regulated financial products, with particular attention to asset selection and analysis.
- Investment security is crucial, with ever-changing regulations and the need to take precautions against fraud in a volatile market.
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