Get into the crypto habit of saving rather than spending
The wisdom of saving rather than spending has been handed down from parent to child since the dawn of time.
As Black Friday looms, we should consider the value of money and what a simple R1 000 saved, rather than spent on Black Friday a year ago, could be worth today.
Had that R1 000 been invested in bitcoin (BTC) it would be worth roughly R3 100 today. Had it been invested in the Ethereum cryptocurrency ether (ETH) it would be worth R7 540.
The wisdom of delayed gratification is even more pronounced when looking at the one-year returns of supernovas like Solana (SOL), up 9 730% over 12 months. That same R1 000 invested a year ago in SOL would today be worth close to R100 000.
“The temptation to spend at this time of the year is always high, and while it is a great time to grab deals people should think twice about the effects of saving that money versus spending it,” says Brett Hope Robertson, investment analyst at crypto investment platform Revix. “While we understand that crypto might not be for everyone, we do believe that saving and investing should be at the forefront of customers’ minds over this time.”
The above graphic shows you just how powerful investing in crypto assets has been since Black Friday last year.
While Solana was the clear winner over the last 12 months, investors know that it takes a lot of skill, timing, and above all luck to identify the next Solana ahead of time correctly.
So how do we all try benefit from the next big crypto success?
The answer to that conundrum is to invest in one of Revix’s three crypto “bundles”.
Revix, a crypto investment platform based in Cape Town, was founded to solve that very problem. In addition to making it easy and safe to buy individual crypto assets, Revix’s claim to fame is its crypto bundle offerings.
In the same way you would buy into the JSE Top 40, Revix bundles allow you to invest in a group of cryptocurrencies seamlessly.
Revix empowers users to invest in three different theme-based bundles:
The Top 10 Bundle (+453%) is like the JSE Top 40 or S&P 500 for crypto and provides equally weighted exposure to the top 10 cryptocurrencies making up more than 75% of the crypto market. This bundle includes all the cryptocurrencies mentioned in this article and has significantly outperformed Bitcoin over the last 12 months.
The Smart Contract Bundle (+569%) provides equally weighted exposure to the top five smart contract focused cryptocurrencies like Ethereum, Solana and Polkadot that enable developers to build applications on top of their blockchains, similar to how Apple builds apps on top of its OS operating system.
The Payment Bundle (+200%) provides equally weighted exposure to the top five payment focused cryptocurrencies looking to make payments cheaper, faster and more global. These cryptos include the likes of Bitcoin, Ripple, Stellar and Litecoin.
The Smart Contract Bundle, which includes cryptos like Solana, Binance Coin, Ethereum and Cardano, has been on a tear in recent weeks as massive strides have been made in delivering on the promise of a new financial architecture centred around decentralised finance (DeFi).
“DeFi is relatively new and is still gaining traction, but the value of funds locked up has grown from $12 billion to more than $104 billion over the last 12 months – which means that DeFi is now the same size as IBM within four years since its creation,” says Hope Robertson.
Decentralised finance allows investors to earn interest at rates far in excess of anything available in traditional markets.
They can also lend and borrow, all without having to go through credit approval committees and Know Your Customer routines – this is made possible by self-executing smart contracts that require no human intervention.
Going back even further in time to Black Friday in November 2017, a R1 000 investment in Bitcoin would today be worth seven times the original investment.
“While cryptos may be volatile, in the past investors have been rewarded for that volatility in the form of above-average returns,” says Hope Robertson. “But regardless of crypto, you need one simple rule to grow wealth, save more than you spend.”
Revix Black Friday and November Deals:
- Get up to R2000 back when you invest with Revix this Black Friday (for example, invest R1 000 and get R200 back to invest as you please).
- 100% off all buy-in fees on all assets available on the platform between November 19 and 30.
Please remember Ts&Cs apply.
With these deals there has never been an easier or cheaper way to invest. So when you are thinking about buying that next pair of shoes that you don’t really need, stop and think about what saving that money could do for you.
Revix brings simplicity, trust and great customer service to investing. Their easy-to-use online platform enables anyone to securely own the world’s top investments in just a few clicks.
Revix guides new clients through the sign-up process to their first deposit and first investment. Once set up, most customers manage their own portfolio but can access support from the Revix team at any time.
For more information, please visit www.revix.com
This article is intended for informational purposes only. The views expressed are not and should not be construed as investment advice or recommendations. This article is not an offer, nor the solicitation of an offer, to buy or sell any of the assets or securities mentioned herein. You should not invest more than you can afford to lose, and before investing, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
Brought to you by Revix.
Moneyweb does not endorse any product or service being advertised in sponsored articles on our platform.