A blockchain wallet is a digital wallet that allows you to store, manage and trade cryptocurrencies. It contains a number of security features to prevent theft.
There are various ways to invest in blockchain, apart from investing directly in stocks of companies using or building blockchain. As outlined above, you can directly purchase cryptocurrencies. You could also purchase shares in a cryptocurrency trust, buy an exchange-traded fund (ETF) that specifically invests in shares of companies with exposure to blockchain or participate in crowdfunding a new cryptocurrency through an initial coin offering.
Despite its growth potential, blockchain technology should be seen as a high-risk investment. As part of one of the world’s largest independent financial advisory organisations, at deVere we can guide you in diversifying your portfolio into cryptocurrencies and related technologies.
In the purest sense of the phrase, digital assets are uniquely identifiable electronic files of data that come with the right to use and have value, such as images, videos, documents, audio files, PDFs and even social media and email accounts. Of course, cryptocurrencies also fall under this umbrella term.
There are myriad advantages of owning digital assets. They can be quicker to issue than physical assets, thereby reducing administrative costs. Environmentally, they reduce the use of paper and the space you would need to store them.