We’re constantly told that one of the smartest things to do with your money is to invest it. If you have some spare cash lying around that you don’t immediately need, investing it is supposed to be the best way to help it grow, rather than just sitting around in a savings account earning a minimal amount of interest.
But, if you have never invested your money before it can feel impossible to know where to start. How long are you supposed to invest? How much money should you invest? What companies should you invest in? These are all important questions that are important to first-time investors and we’re here to help break down some of the most lucrative industries that all the experts are investing their money in – and so should you.
1. Cryptocurrency-Powered Gaming
Online gaming is a huge industry, this is something that we all know, but there is a sub-genre that is starting to gain an immense amount of popularity at the moment – crypto gaming. As more people have become familiar with cryptocurrency, the rise of crypto games has been booming in Australia, especially using some of the more recognizable currencies like Bitcoin.
Crypto-friendly online slots for real money have become a very attractive opportunity for investors who want their cash to grow significantly, thanks to their recent growth. With innovative animations and the latest game features, these slots offer an immersive gambling experience, coupled with cryptocurrency payment methods. By this, they pose a lucrative opportunity in the iGaming space, which seems to only be surpassing other modes of entertainment.
The online gaming industry in Australia is currently valued at about US$ 4.5 Billion, with expectations that it will continue to grow significantly over the next couple of years. This growth will largely be spurred on by the innovative uses of cryptocurrencies in the industry, which is why it’s now become a particularly profitable option for investors.
And it’s not just going to be online gambling games that will be transformed by the introduction of cryptocurrency, this new method of payment is starting to infiltrate all areas of gaming. Whether you’re purchasing a new weapon in a first-person shooter game, or trying to unlock a new adventure in a fantasy game, more payments are being enabled by cryptocurrency. This technology can continue evolving as it’s still in its infancy, so there’s never been a better time for new investors to get involved.
2. Consumer Goods and Services
If this is your first time investing in a business, it’s normally best to go with an industry that you’re already familiar with – like consumer goods and services. Every one of us uses a multitude of products and services every day, so you have more knowledge than you would think. This industry encompasses a wide range of businesses, like entertainment, hospitality, food, beauty products, fashion, etc.
If there’s a particular clothing brand that you like or a new food brand whose brand presence you think is innovative, it’s worth your time to see if they are currently offering investment opportunities.
You can also look into investing in consumer staple stocks, these are goods that people always buy to support their everyday lives. These are good investment opportunities for first-time investors because they are typically less impacted by changing economic environments, even as the shopping personas of Australians change when faced with recessions and high-interest rates.
3. Renewable Energy
All over the world, we’re seeing soaring temperatures and even more drastic consequences of climate change, which has led many inventors and entrepreneurs to come up with new, creative ways that we can all make a difference.
One area of the sustainability movement that should be of particular interest to investors is renewable energy, which involves looking for alternative ways to produce electricity without relying on fossil fuels which are one of the key causes of climate change.
Although there are several different options when it comes to alternative fuels, like solar, wind, and water energy, none of them have truly gone mainstream yet – which is why it could be a great opportunity for investors to get involved. Whether you want to play it a bit safer by investing in a solar panel start-up or take a risk on one of the more innovative ways of generating fuel, not only will you be able to grow your savings, but also save the environment.
Many reports have found that renewable energy will bring trillions of dollars of benefits to everyone, so if you’re one of the first to invest your money in these businesses, you could be on to a goldmine by the time the technology goes mainstream.
Closing Thoughts
If you’re just getting into investing, it can be hard to know where to put your hard-earned money. To get started, you should pay attention to where professional investors are beginning to put their money.
We’ve found that renewable energy, consumer goods, and cryptocurrency-powered gamings all offer very lucrative opportunities for those with some spare cash in their bank accounts.
