Top 10 Cryptocurrency Tips from Experts
Tips for Investing in Cryptocurrency
Tips for Investing in Cryptocurrency
Deciding to take the plunge and invest in cryptocurrency can be a relatively easy decision to make, but knowing which currency you should be investing in is where it becomes a little more complicated. With so many options, it’s often hard to know which one is right for you. That’s why we’ve put together this list of our top 10 tips from cryptocurrency experts – to help you decide which currency you should consider investing in. This list will provide you with all of the information that you need, and hopefully answer any questions that you may have. So without further ado, here are our top 10 tips:
Tip 1: Know the difference between a coin and a token
One of the most important things to understand when you’re looking at investing in cryptocurrencies is knowing the difference between coins and tokens, as this can have an impact on your investment strategy. Coins are currencies that are native to their blockchain, much like Bitcoin and Litecoin. Tokens however, are created on top of another blockchain such as Ethereum or NEO and they do not have an independent existence. Knowing the difference between a coin and a token will help you decide if it’s something
The cryptocurrency market is bursting with coins, but which ones are the best to invest in? In this article, we will go through the top 10 cryptocurrencies, how they work and what they are used for.
Cryptocurrencies have only been around for a few years now, and yet they are already starting to take over the world as we know it. While some people still think of them as a scam or a Ponzi scheme, they aren’t. Cryptocurrencies are here to stay and they aren’t going anywhere any time soon.
While there are hundreds of cryptocurrencies out there, only a handful of them hold any kind of real value. Many of them are pure scams looking to take advantage of the hype surrounding the crypto market. There are others that have good intentions but haven’t got what it takes to be successful in the long run. Then, there are those that have genuine potential and could one day be worth millions, if not billions of dollars. So then, which one is which?
With Bitcoin prices surging from around $1,000 at the start of 2017 to a high of almost $20,000 in December, it’s no surprise that cryptocurrency has been one of the top financial stories of the year.
Indeed, as 2018 gets underway, cryptocurrency is still a hot topic. In fact, according to Google Trends data, the term “Bitcoin” was searched more than “Kim Kardashian” in 2017 and Bitcoin’s price has already risen by more than 100% since the start of the year.
With all this interest in digital currencies, we asked experts to share their opinions on what they expect to see unfold in cryptocurrency and blockchain during 2018 – and beyond.
Here are their insights:
Cryptocurrency is still a very new thing. The first Bitcoin alternative on our list, Ethereum, is a decentralized software platform that enables Smart Contracts and Decentralized Applications (DApps) to be built and run without any downtime, fraud, control or interference from a third party.
The goal behind Ethereum is to create a decentralized suite of financial products that anyone in the world can have free access to, regardless of nationality, ethnicity, or faith. This aspect makes the implications for those in some countries more compelling, as those without state infrastructure and state identifications can get access to bank accounts, loans, insurance, or a variety of other financial products.
Ethereum has the second-largest market cap of any digital currency, and it’s had an even better year than Bitcoin. It’s gained over 1,300% since January 1st and is currently hovering around $350 per coin. This makes Ethereum more accessible to the average person than Bitcoin (which is priced at well over $2,000 at the time of this writing).
1. Don’t invest more than you can afford to lose.
2. Don’t leave your cryptocurrency in an exchange.
3. Diversify your cryptocurrency portfolio.
4. Never share your private keys or seed phrases with anyone.
5. Be aware of scams and Ponzi schemes.
6. Know the risks of crypto mining and investing in ICOs.
7. Learn about John McAfee’s “unhackable” wallet and keep your cryptocurrency secure from hackers and thieves.
8. Guard against malware, viruses, and phishing attacks that might steal your personal information or private keys.
9. Research every cryptocurrency before you invest your hard-earned money in it to avoid scams like OneCoin that promise huge returns but don’t deliver on their promises and disappear with people’s money instead of paying them back as promised or paying them back at all!10) Don’t try to time the market, because timing is difficult or impossible; it’s better just to buy some Bitcoin now even though prices are high than wait until they decline further only for it to bounce back up again later (which happens often!).
Ethereum is a cryptocurrency similar to Bitcoin, founded by Vitalik Buterin in 2013. It has the second largest market cap of any cryptocurrency and is the most widely used blockchain in the world. Ethereum puts smart contracts at its centre, allowing developers to build decentralised apps (Dapps) that execute exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
EOS is a blockchain platform for the development of decentralised applications (dapps), similar to Ethereum in function. It makes dapp development easy by providing services like user authentication, cloud storage and server hosting. EOS includes a complex system of rules to govern this process and enable a sort of decentralised democracy within its community.
XRP is a cryptocurrency that was founded in 2012 with the aim to be used as a payment protocol for banks and other financial institutions. Ripple claims it’s able to process 1,500 TPS (transactions per second).
It can take up to four days for an international transfer between banks using traditional processing methods. Ripple is designed to facilitate fast transfers and lower fees than banks. It aims to do this by connecting large banks directly on their network and verifying transactions through consensus rather than mining on proof-of-work-based blockchains