It is important to get up to date with the world of cryptocurrency. Cryptocurrency is a relatively new way of investing. There are many kinds, and each one has its own strengths and weaknesses. It’s important to find which one you like best.
Failing that, you may want to read a blog that helps you make up your mind about what kind of cryptocurrency you should buy. If you are new to the game, it can be quite confusing; there are so many choices!
I recommend using this blog, as it is written by people who have invested in various cryptocurrencies and they have done their research on which ones are best for you. They list all the things they consider important when looking at a new investment.
There’s a lot of information out there on how to get started in cryptocurrency. That’s because the world has changed a lot since the end of 2017 when Bitcoin recovered more than 90% of its value. The closest thing to cryptocurrencies’ explosive rise and fall that we had seen was in 2014, when Ethereum went from $2 to $300 in two months.
But the biggest change is that most people now know what Bitcoin is – it used to be called a “punk rock” currency – whereas before 2017 it was best known as a tool for drug dealers and black market cash sellers.
And that means there are lots of ways of getting involved if you’re not already an expert. There are new coins coming out every day, and some of them will be worth something one day.
If you want to find out what the cryptocurrency market is like, and how you can get an edge on the competition, then this blog is for you!
This blog will guide you through many aspects of cryptocurrency, whether it be for the beginner or advanced investor. I’ll cover everything from “what is a cryptocurrency”, “how to buy a cryptocurrency” or “what is the best cryptocurrency to invest in”. This blog has been created so that I can share my knowledge with as many people as possible and make sure every single one of you will have access to all that I have learned over time!
I hope you enjoy this blog and feel free to leave comments and questions on any aspect of it! I promise to answer all questions within 24 hours and reply back regularly. You can also get in contact me with any suggestions that you would like me to add.
Please note, there are affiliate links on this page which means if you click on them and they direct you to Amazon, I may receive a small commission. If that happens, it will be noted in the article.
Cryptocurrency, or “crypto-coin” for short, is the buzzword of the moment. Investors are betting that within a few decades we will all be using cryptocurrency to pay our bills, buy and sell things on eBay, transfer money to friends around the world, or even as extra income.
But is it really as easy as that? Here are some of the most popular cryptocurrencies and how to buy them:
You can’t buy bitcoins with a credit card. You have to send money from another location to a wallet where someone will receive it. The current exchange rate (as of January 2017) is about $5,000 per bitcoin.
The value of cryptocurrency has been on a rollercoaster ride, and you can get caught up in it. In the past few years, Bitcoin has gone from being worth $1,000 to being worth $20,000. This is not just a story about a new technology but about human psychology.
The thing is, people like shiny things. And cryptocurrencies are very shiny things. They have become a proxy for many things that we want to believe are important: freedom, technology, entrepreneurship, and even politics.
Cryptocurrency is based on the idea that everyone will voluntarily use it because it is better than any government currency they can print at will. I say “voluntarily” because there aren’t enough people who understand what it is or what it does to make this work on a large scale. But we have to assume that people who don’t understand something can still agree with the principles—that this is better than what the government has going for it and that if they use something else they will lose money. (This is why libertarians think cryptocurrency should be everywhere.)
So long as the total amount of cryptocurrency in circulation stays below a certain point, this won’t matter much. As more people join the party and try to spend their cryptocurrency, prices will rise
The most important thing to know about cryptocurrencies is not what they are, but why you would want to use them. If you don’t like the idea of owning money that someone else can decide to take away from you, Bitcoin and cryptocurrencies in general are not for you.
Probably the most important reason to own a cryptocurrency is because they’re money. They provide an alternative to the money that banks offer. But I’m going to suggest a second reason, which isn’t as obvious: They provide some of the same benefits as gold and silver do.
Bitcoin is an especially good way of buying and holding gold and silver, because it’s nearly impossible for anyone to manipulate their value. That might seem a bit trivial; isn’t any old metal more or less volatile than another? But for thousands of years that’s been true only of precious metals. Paper money was more volatile than gold or silver throughout most of history, even before fiat currencies were invented.
I decided I wanted to create my own cryptocurrency. It would be easy to do just by writing a program that generates an unlimited number of them and then mine them all together with my computer. But I didn’t want to do that, because it would take too long. Instead, I decided to write an app that let you get a list of cryptocurrency prices, and keep track of when the price was going up or down.
Cryptocurrencies started out as an experiment in peer-to-peer digital cash, but they’ve since become more than that: they’re virtual representations of real-life assets. Bitcoin (BTC) is the pioneer, but there are now hundreds of other cryptocurrencies with different features and purposes. The main ones are currency backed by a store of value like gold or silver, currencies that represent property rights like land titles, currencies backed by a government promise (like the dollar or the euro), cryptocurrencies that represent votes such as on democracy or taxation, and so on.