Is It Too Late to Get Started in Crypto?

In this article, we explore if there is still an opportunity for those looking to get started trading cryptocurrencies. Here’s what you’ll find below:

  • There’s No Time Like the Present: Despite past crypto booms, traders still have plenty of opportunities to get started with cryptocurrencies.
  • Bitcoin, Ethereum, Meme Coins, and More: There’s a wide variety of potential crypto options, providing something to match anyone’s trading strategy.
  • Market Dynamics: The success of Bitcoin and decentralized finance (DeFi) in 2024 — including the BTC halving — indicates continued market interest and growth potential.
  • Regulatory Milestones: The approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. marks a significant step toward mainstream financial integration and regulatory acceptance of cryptocurrencies.
  • Improved Accessibility: The crypto market is becoming more accessible to everyday traders with user-friendly platforms and educational resources.
  • Diverse Choices: New technologies and emerging tokens regularly provide fresh buying opportunities, ensuring the market remains dynamic and exciting.

With cryptocurrency’s explosion in popularity over the past decade, many novices to the space wonder: Is it too late to get started in crypto?

Perhaps the pervasive presence of crypto successes, from the explosive rise of meme coins like Dogecoin and Shiba Inu to new heights in Bitcoin’s trading price, make people feel like the best opportunities are past.

The fact is, there’s never a bad time to get started with crypto, and the fear of missing out is unsubstantiated. A quick Google search yields articles as far back as 2020 exploring the possibility that the crypto boom was over, yet technological and financial advancements in the cryptocurrency space continue to appear. Plus, it’s never been easier to buy into crypto markets, even with very little capital.

In this article, we explore the evolution of cryptocurrency, current market trends, and why it might still be a good time to dive into this exciting financial space.

The Evolution of Cryptocurrency

The concept of encrypted virtual money dates back to the 1980s, but early attempts to implement the idea failed to catch on. The launch of Bitcoin (BTC) in 2009 by an anonymous entity known as Satoshi Nakamoto came at the right time. Bitcoin’s unique blockchain network technology — which removed the need for a central authority to verify transactions — and its fixed supply helped to create an initial groundswell of support in the aftermath of the 2008 financial crisis. Over the next few years, BTC gradually gained recognition as a viable digital currency and store of value.

Ethereum (ETH), introduced in 2015 by Vitalik Buterin, further revolutionized the space with its smart contract functionality, enabling a wide range of decentralized applications (dapps) that leverage blockchain technology for more than just financial transactions. Digital marketing and “meme culture” were the next big catalysts in the crypto space, with developers and early supporters driving success by creating awareness for new cryptocurrencies and non-fungible tokens (NFTs) on social media and other venues.

Over the past several years, cryptocurrencies have achieved significant milestones and found mainstream utility. Bitcoin reached an all-time high of over $73,000 in March of 2024 and became the official currency of Argentina. Ethereum’s network became the foundation for numerous blockchain projects and DeFi platforms, including use in industries like healthcare, real estate, and insurance, while meme coins like Dogecoin, Pepe, and Shiba Inu became viral sensations and speculative targets.

The combination of utility and opportunity available today makes cryptocurrencies more popular than ever, with an estimated 93 million crypto holders in the United States alone.

Cryptocurrency Market Trends and Future Potential

The cryptocurrency market is dynamic and constantly evolving, presenting both challenges and opportunities for traders. While the market is historically volatile as a whole, more mature tokens like Bitcoin and Ethereum are experiencing greater stability, which means that traders of all kinds can find options in the space that suit their preferred strategies. Let’s explore some of what’s going on right now in the crypto space:

1. The 2024 Bitcoin Halving

Perhaps the most significant recent event in the cryptocurrency market was the Bitcoin halving in April 2024. Occurring approximately every four years, halving reduces the reward for mining new Bitcoin blocks by half, thus decreasing the rate at which new bitcoins enter the market. Historically, Bitcoin halvings have led to steady and substantial increases in Bitcoin’s price due to increases in scarcity. Bitcoin’s appreciation so far in 2024 may be related to the halving event.

2. DeFi Applications

DeFi continues to grow, with Total Value Locked (TVL) in DeFi platforms increasing by more than 50% since January 1, 2024. In addition to its use in the crypto industry, its staking function has drawn crypto traders, who see it as similar to holding dividend stocks.

With staking, holders of cryptocurrencies that use the Proof of Stake (PoS) mechanism (ETH, for example) can pledge their tokens to provide validation, which helps stabilize the network’s efficiency and security. In exchange, they earn rewards (usually in the form of more tokens), creating a passive income stream.

3. Mainstream Adoption and Regulation

Cryptocurrencies are becoming more integrated into mainstream financial systems. The SEC’s approval of spot Bitcoin ETFs in the U.S. is a significant milestone, drawing large amounts of capital into the market. This trend of regulatory acceptance is expected to continue with potential approvals of Ethereum ETFs. Additionally, advancements like the integration of artificial intelligence (AI) and blockchain technologies are creating new opportunities and use cases for cryptocurrencies​​.

Why It’s Not Too Late to Get Started in Crypto

Despite impressive gains for some early cryptocurrency adopters, the crypto market is far from saturated. New technologies and tokens are emerging regularly, providing fresh opportunities, and established cryptocurrencies like Bitcoin and Ethereum still hold plenty of potential for growth.

Perhaps more important, the crypto market is becoming more accessible to everyday traders, where user-friendly platforms, educational resources, and regulatory accommodations make getting started in crypto easier than ever.

Getting Started With Crypto

If you’re looking to trade cryptocurrencies, below are steps to help you get started:

  1. Choose a Reliable Platform: You’ll want to work with a reputable cryptocurrency trading platform like to buy and sell digital assets.
  2. Know the Underlying Value: Before considering any cryptocurrency, be sure to understand its individual economics. Some cryptocurrencies trade at values premium to many of the most expensive equities, while others trade at fractions of a penny stock; although, any could be a suitable part of your portfolio.
  1. Diversify Your Portfolio: Spread your capital across multiple cryptocurrencies to mitigate risk and maximize potential returns.
  2. Don’t YOLO: When it comes to crypto, volatility can be either a friend or an enemy. While trying to find the next 1,000% gainer may be tempting, basic strategies like dollar-cost averaging (or using a DCA bot) could yield more reliable results.
  3. Have Fun and Find Your Cryptocurrencies: There are cryptocurrencies focused on specific industries, charities, hobbies, memes, and more. Do your research to figure out what matches your trading strategy and lifestyle.

Wrapping Up: Is it Too Late to Take Advantage of Crypto?

In short, no. The crypto market continues to evolve, offering new opportunities for traders willing to take the plunge. Conduct thorough research, stay informed about market trends and news, and use the right tools to navigate the crypto landscape with confidence. Embrace the potential of this transformative technology and consider how it might fit into your trading strategy.

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