A group of different digital currencies is being traded under the cryptocurrency banner. Bitcoin, as the most popular and reliable digital currency. It was formed in 2009 as a globally accessible digital payment system. We’ll now learn some basic information about Cryptocurrency and how or why investing in Cryptocurrency.
What is Cryptocurrency?
Cryptocurrency is a digital currency method designed to handle e-transactions in a very secure way.
The complete method of digital currency uses cryptography. This is a type of secret coding inventing from the WW2 to perform e-transactions privately, securely and to authenticate them.
Generally, in the banking system, monetary boards or governments run the supply of currency by printing units of money, in notes or coins, or creating some additional digital banking or fund exchanges.
On the other hand in the world of Cryptocurrency, individual investors, traders, and speculators hold the total balance on Cryptocurrency. They also control its market. No government or monetary board controls its market. Unlike regular money, your transactions in digital currencies are processed through a secure online gateway where your identity is completely private.
Investing in Cryptocurrency
If you’ve decided your investment amount and learned well about digital currencies with good research, it’s time to start investing in cryptocurrencies! Here’s what you’ll need to do.
First things first
Make a decision how much you’re prepared to invest. This digital currency market is hard to forecast. Bearing in mind the volatility of different Cryptocurrencies, you almost certainly don’t want to invest your total investments in this trading field. Still, it’s an obviously a great opportunity to start investing in cryptocurrency and add it to your trading portfolio.
Learn about the currency
Before investing in cryptocurrency all your capitals, make sure that you’ve learned and made well research about the coins you want to invest in. Bitcoin, Ether, and Litecoin are most renowned, volatile and reliable coin in current time. Although there are lots of other Cryptocurrencies on the market, however, all coins not will be feasible. To honor this point, I will share some basic information here regarding those top three coins.
Why Invest in Cryptocurrencies?
In addition to what I have written above, there are three key good causes to invest in Cryptocurrency.
First, Cryptocurrencies are reliable. Since its beginning in 2009 the value of Bitcoin is gradually increasing. Financial analyst believes that Cryptocurrencies are future of money. That because it is more secure, faster and easier than traditional currency system.
Second, the value of digital currencies is continuously increasing. From 2010 to 2017 bitcoin’s price has been increased from 0.03 to 18,000 against USD. If you had bought 1USD bitcoin that time, you would be a millionaire by now.
Third, because you like the technology and you like trading online.
Top 3 Cryptocurrencies to Invest In
There are many options one can choose when making a decision in which digital currency / Cryptocurrencies to invest in. Let’s discuss some of the most popular digital currencies to start investing in cryptocurrency.
Bitcoin: You know this name, or at least heard of it right? There are plenty of reasons you’ve seen the bitcoin all over the financial news and papers. The price of the Bitcoin has increased almost 18,00x in the last 6 years.
Ethereum: Perhaps the second-most popular and high volatile cryptocurrency. The value of this digital currency has increased more than 3000% in the last year. So it might be a good chance for beginners to pay more interest on this digital currency.
Litecoin: Like above two currencies, Litecoin has also risen much higher in recent times. The value of this digital currency has increased more than 2000% in the last year.
The value of Cryptocurrencies is increasing day by day. This is the right time to make a wise decision to enter into this growing market and add it to your portfolio. Compared to its risk, the opportunities are Higher. Join the world of cryptocurrency trading.