Scott Tominaga: Is Cryptocurrency Worth the Investment?

 

Scott Tominaga: Is Cryptocurrency Still Viable Today?

 
 
  Despite their volatility, cryptocurrencies continue to be popular today, defying what many naysayers believe this fintech trend is nothing but a trend. According to investment expert Scott Tominaga, these digital assets exist online and combine the new technologies of blockchain, cryptography, and computing networks for tracking ownership and determining value.  

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A number of experienced investors continue to express doubts about the efficacy of conventional investment strategies for purchasing such digital assets despite the longevity of cryptocurrency. It is due to the perceived risk associated with cryptocurrency's speculative nature, which, according to these skeptics, makes it an untested commodity. It remains a challenge to develop a dependable investment strategy for crypto, which adds to the perceived risk associated with investing in them. Even as the sector matures, investors should be aware of the risks inherent to this volatile market.  
 
Potential investors will understandably invest in crypto the way they invest in any asset out there, basing their decision on the hope that the price will increase and someone will pay more. Other buyers, however, are more optimistic.  
 
Before COVID-19 happened, a growing class of advisors, investors, and average Joes believed that digital currency would ultimately transform financial services as we know it. Of course, that comes with great risk, as crypto's volatility has kept a lot of veterans in the global financial industry cautioning investors to stay away from digital coin investing.  
 

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There has yet to be a consensus on which digital currency will prevail. If one is keen on investing in cryptocurrency, Scott Tominaga says it's imperative to do research and do it diligently.  
 
By studying the history and fluctuation rates closely, potential investors may know more about crypto and set their minds at ease that this is ultimately worth the investment. That being said, Scott Tominaga adds that whether you invest in crypto or not, just like any investment, you must stay committed.  
 
  Scott Tominaga earned his degree in Business Finance from Arizona State University in 1988. He is an experienced professional in the hedge fund and financial services industry. His skills involve expertise in middle and back-office accounting, compliance, and administrative functions within financial services firms. For more articles on finance and investment, visit this blog.