According to http://arthurhtna687.lowescouponn.com/why-bitcoin-and-cryptocurrency-mining-is-challenging-in-india the Resolution Foundation, it would take more than 400 years for the median household in the UK to save enough disposable income to reach the average wealth of the richest 1% of the population. Since both investments are speculative, I am hesitant to give a ranking on either of them. The bullish ranking I have given them is based on their long-term prospects of success, not on short-term trading activity or technical evaluation. That begs the question of which cryptocurrency is the best. There are many proponents of Bitcoin, but there are many for Ethereum, too. A side-by-side comparison of cryptocurrencies is well outside the scope of this article.

Seriously, no other investment has come close to matching its price performance. People are literally becoming millionaires after making just small investments. With all the hype and talk of double-digit—even triple-digit—growth in the world of cryptocurrencies, it’s easy to forget about the potential costs incurred from investing in them. When it comes to the taxation of cryptocurrency, the word that best describes it is “confusing.” If you’re going to invest in crypto, be sure to comply with all relevant laws and reporting requirements. In early 2021, the cryptocurrency market as a whole passed $1 trillion for the first time.