Cryptocurrency investment has taken the world by storm. As of January 2018, there are more than 1500 different cryptocurrencies, worth more than $600 billion USD collectively with Bitcoin leading the way at $216 billion USD. As the interest in cryptocurrency continues to grow, many people are looking to jump on board and strike it rich. But if you’re thinking about getting into cryptocurrency investment, there are some things you should know before you do so that you can make an informed decision about your finances.
What is cryptocurrency?
Cryptocurrencies, or digital currencies, are a new kind of currency that use encryption to secure transactions and control. They are called cryptocurrencies because they use cryptography (the process of converting legible information into an almost uncrackable code) for security purposes. The currency can be transferred anonymously, making it a favorite among people who want to keep their transactions secret. Cryptography was created to protect sensitive information in military or business settings—like when you enter your credit card number online. However, using cryptography outside of its traditional application has made cryptocurrencies appealing to many people interested in avoiding government oversight while facilitating anonymous transactions. What is cryptocurrency mining?: Mining is how cryptocurrency transactions are processed. It involves solving complex math problems that take up time and computer power. Miners get rewarded with cryptocurrency for their work; if there’s an imbalance between how much computing power there is and how much is needed by network users, miners will add more computing power to even things out. Mining will still be required after all coins have been mined, but instead of getting paid in newly-created coins, miners will get paid transaction fees as well as newly-created coins from block rewards.
Why should you invest in cryptocurrency?
It’s no secret that cryptocurrencies have been on a tear for years now. If you had invested in cryptocurrency before 2017, your gains would have been astronomical. This year has seen bitcoin rally from less than $1,000 per coin to its current price of nearly $8,300 per coin as of November 27th, 2017. That’s a gain of over 1,400% since January 1st! In just a few month's time in 2017 alone, we saw something incredible: It’s no secret that cryptocurrencies have been on a tear for years now. If you had invested in cryptocurrency before 2017, your gains would have been astronomical. This year has seen bitcoin rally from less than $1,000 per coin to its current price of nearly $8,300 per coin as of November 27th, 2017. That’s a gain of over 1,400% since January 1st! In just a few months time in 2017 alone, we saw something incredible: Bitcoin went from being worth about $800 per coin at its lowest point in February and March all the way up to almost $20,000 by mid-December. Many altcoins (alternative coins) also experienced similar growth during these same periods.
How to start with cryptocurrency?
The cryptocurrency craze continues to surge unabated as people trade, buy and sell cryptocurrencies like bitcoin and ether. There are plenty of reasons why you should too! If you’re looking to get in on cryptocurrency investment, here’s how: First Step - Investigate Like any investment, it’s important to do your homework before buying into something that could make you money. When it comes to cryptocurrency there are a few things that are worth considering... Research How Cryptocurrencies Work What is cryptocurrency? A cryptocurrency is a form of digital currency used for secure and anonymous transactions across borders. It's decentralized (no single institution controls it), transparent (every transaction can be viewed publicly) and its value isn't tied to any one country or government. Instead, cryptocurrencies use blockchain technology—which keeps track of who owns what using an encrypted digital ledger—to record transactions. It all started with Bitcoin... Bitcoin was created by an unknown person or group of people under the name Satoshi Nakamoto in 2009 as a way to bypass banks and governments when making financial transactions online. By 2017, Bitcoin had grown so popular that other companies began creating their own coins based on its model (called altcoins). Today there are more than 1,000 different types of cryptocurrency available worldwide with new ones being developed all the time.
Choosing the right cryptocurrency
The first thing you should do when you think about cryptocurrency investment is to choose a coin. If your reasons for investing in cryptocurrency are as an alternative investment option, then it’s more important that you pick a relatively stable coin with a solid community around it. Such coins include Ripple, Litecoin, and Dash. On the other hand, if your main interest is getting involved with trading, then you should choose coins that are expected to rise in value quickly over short periods of time. Examples of such coins include Ethereum Classic, NEO, and Verge. Having said that, be sure to do proper research before investing as there’s always a risk involved when putting money into anything and even more so when dealing with cryptocurrencies. Always take advice from experts seriously and never invest what you can’t afford to lose.
Best tips for new crypto investors
The best advice I can give to new crypto investors is to never invest more than you can afford to lose. While many of us are optimistic about blockchain technology, cryptocurrency investing is very risky and things can go wrong (as they did for me). There will be a lot of ups and downs along your journey. The key is not to panic when there’s a dip in prices or miss out on the next Bitcoin. Enjoy being an early adopter, but don’t get caught up in the hype. As Warren Buffett once said: Be fearful when others are greedy and greedy when others are fearful. In other words, buy low and sell high – like a true stock trader. When it comes to which coins should be in your portfolio, start with research. Look at market caps and charts; read white papers; talk to industry experts; ask questions on forums; visit Telegram groups and Slack channels dedicated to individual cryptocurrencies. Once you have done all that, then it’s time to start buying! Of course, it goes without saying that diversification is important here too—just as with any investment strategy. Don’t put all your eggs into one basket. Instead, spread them across different projects so if one fails you won’t lose everything—but also make sure not too many of them fail either!
START YOUR JOURNEY OF INVESTMENT RIGHT NOW!
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What is cryptocurrency?
Cryptocurrencies, or digital currencies, are a new kind of currency that use encryption to secure transactions and control. They are called cryptocurrencies because they use cryptography (the process of converting legible information into an almost uncrackable code) for security purposes. The currency can be transferred anonymously, making it a favorite among people who want to keep their transactions secret. Cryptography was created to protect sensitive information in military or business settings—like when you enter your credit card number online. However, using cryptography outside of its traditional application has made cryptocurrencies appealing to many people interested in avoiding government oversight while facilitating anonymous transactions. What is cryptocurrency mining?: Mining is how cryptocurrency transactions are processed. It involves solving complex math problems that take up time and computer power. Miners get rewarded with cryptocurrency for their work; if there’s an imbalance between how much computing power there is and how much is needed by network users, miners will add more computing power to even things out. Mining will still be required after all coins have been mined, but instead of getting paid in newly-created coins, miners will get paid transaction fees as well as newly-created coins from block rewards.
Why should you invest in cryptocurrency?
It’s no secret that cryptocurrencies have been on a tear for years now. If you had invested in cryptocurrency before 2017, your gains would have been astronomical. This year has seen bitcoin rally from less than $1,000 per coin to its current price of nearly $8,300 per coin as of November 27th, 2017. That’s a gain of over 1,400% since January 1st! In just a few month's time in 2017 alone, we saw something incredible: It’s no secret that cryptocurrencies have been on a tear for years now. If you had invested in cryptocurrency before 2017, your gains would have been astronomical. This year has seen bitcoin rally from less than $1,000 per coin to its current price of nearly $8,300 per coin as of November 27th, 2017. That’s a gain of over 1,400% since January 1st! In just a few months time in 2017 alone, we saw something incredible: Bitcoin went from being worth about $800 per coin at its lowest point in February and March all the way up to almost $20,000 by mid-December. Many altcoins (alternative coins) also experienced similar growth during these same periods.
How to start with cryptocurrency?
The cryptocurrency craze continues to surge unabated as people trade, buy and sell cryptocurrencies like bitcoin and ether. There are plenty of reasons why you should too! If you’re looking to get in on cryptocurrency investment, here’s how: First Step - Investigate Like any investment, it’s important to do your homework before buying into something that could make you money. When it comes to cryptocurrency there are a few things that are worth considering... Research How Cryptocurrencies Work What is cryptocurrency? A cryptocurrency is a form of digital currency used for secure and anonymous transactions across borders. It's decentralized (no single institution controls it), transparent (every transaction can be viewed publicly) and its value isn't tied to any one country or government. Instead, cryptocurrencies use blockchain technology—which keeps track of who owns what using an encrypted digital ledger—to record transactions. It all started with Bitcoin... Bitcoin was created by an unknown person or group of people under the name Satoshi Nakamoto in 2009 as a way to bypass banks and governments when making financial transactions online. By 2017, Bitcoin had grown so popular that other companies began creating their own coins based on its model (called altcoins). Today there are more than 1,000 different types of cryptocurrency available worldwide with new ones being developed all the time.
Choosing the right cryptocurrency
The first thing you should do when you think about cryptocurrency investment is to choose a coin. If your reasons for investing in cryptocurrency are as an alternative investment option, then it’s more important that you pick a relatively stable coin with a solid community around it. Such coins include Ripple, Litecoin, and Dash. On the other hand, if your main interest is getting involved with trading, then you should choose coins that are expected to rise in value quickly over short periods of time. Examples of such coins include Ethereum Classic, NEO, and Verge. Having said that, be sure to do proper research before investing as there’s always a risk involved when putting money into anything and even more so when dealing with cryptocurrencies. Always take advice from experts seriously and never invest what you can’t afford to lose.
Best tips for new crypto investors
The best advice I can give to new crypto investors is to never invest more than you can afford to lose. While many of us are optimistic about blockchain technology, cryptocurrency investing is very risky and things can go wrong (as they did for me). There will be a lot of ups and downs along your journey. The key is not to panic when there’s a dip in prices or miss out on the next Bitcoin. Enjoy being an early adopter, but don’t get caught up in the hype. As Warren Buffett once said: Be fearful when others are greedy and greedy when others are fearful. In other words, buy low and sell high – like a true stock trader. When it comes to which coins should be in your portfolio, start with research. Look at market caps and charts; read white papers; talk to industry experts; ask questions on forums; visit Telegram groups and Slack channels dedicated to individual cryptocurrencies. Once you have done all that, then it’s time to start buying! Of course, it goes without saying that diversification is important here too—just as with any investment strategy. Don’t put all your eggs into one basket. Instead, spread them across different projects so if one fails you won’t lose everything—but also make sure not too many of them fail either!
START YOUR JOURNEY OF INVESTMENT RIGHT NOW!
Contact for more
