Beginning Guide to Introduction to Cryptocurrencies

Introduction: To invest in cryptocurrencies

The first cryptocurrency to come into existence was bitcoin signals that was based on Blockchain technology. It was introduced in 2009 by an unknown individual Satoshi Nakamoto. As of the time I wrote this blog 17 million bitcoin had been mined, and it is believed that a total of 21 million bitcoins is possible to mine. The other cryptocurrencies with the highest popularity include Ethereum, Litecoin, Ripple, Golem, Civic and hard forks of Bitcoin such as Bitcoin Cash and Bitcoin Gold.

It is advised to consumers not to put all their money into one cryptocurrency and to stay clear of investing during the height of cryptocurrency bubble. It has been noted that prices have abruptly lowered as it approaches the top of the cryptocurrency bubble. Because cryptocurrency market is volatile, therefore investors must only invest the amount they are able to risk because there is no influence by any government over cryptocurrency because the cryptocurrency is decentralized crypto.

Steve Wozniak, Co-founder of Apple predicted that Bitcoin is the genuine gold, and will be the dominant currency such as USD, EUR, INR and ASD in the near future, and will become a the world’s currency in the coming years.

Why should you invest in cryptocurrency?

Bitcoin was the initial cryptocurrency to come into existence. Since then, more than 1600 cryptocurrencies have been introduced with a distinct features specific to each coin.

A few of the reasons I’ve had the pleasure of experiencing and want to share are that cryptocurrency was created through a decentralized platform which means that users don’t need an intermediary to transfer their cryptocurrency from one location to another, as opposed to fiat currency , which requires a require a platform similar to a Bank to transfer funds in one bank account the other. Cryptocurrency is built on secure blockchain technology, and has almost no chance of hacking and take your cryptocurrency away if you’ve kept your crucial details.

You should always avoid buying cryptocurrencies at the high point of cryptocurrency-bubble. A lot of people buy cryptocurrency during the peak of the market hoping to trading signals earn quick cash only to be swept up in the hype of bubbles and then lose their investment. It is recommended for investors to conduct a thorough research prior to investing their money. It is always advisable to invest in a variety of cryptocurrencies rather than one because it has been discovered that some cryptocurrencies increase in value, while others are less when other cryptocurrency’s are in that red area.

 

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