People from all walks of life are investing in digital currencies, whether it’s the cryptocurrencies themselves or the idea of diversifying their portfolios. If you are new to the concept and wondering what is happening, here are some basic concepts and ideas for investing in cryptocurrencies.
What cryptocurrencies are available and how do I get them?
With a market value of about $ 278 billion, Bitcoin is the most established cryptocurrency. Ethereum is in second place with a market value of more than $ 74 billion. In addition to these two currencies, there are a number of other options, including Ripple ($ 28 billion), Litecoin ($ 17 billion) and MIOTA ($ 13 billion).
For the first time in the market, there are many exchanges for Bitcoin trading all over the world. BitStamp and Coinbase are two well-known exchanges in the United States. Bitcoin.de is a European exchange. If you are interested in trading other digital currencies along with Bitcoin, it is a crypto marketplace where you can find all digital currencies in one place. List of exchanges by 24-hour trading volume.
What options do I have to save my money?
Another important issue is the storage of coins. Of course, one option is to keep them on the stock exchange where you bought them. But you should be careful when choosing an exchange. The popularity of digital currencies has led to the emergence of many new, unknown exchanges everywhere. Take the time to make the necessary efforts to avoid scams.
Another option for cryptocurrencies is to keep them to yourself. One of the safest options for saving investment is a wallet. Companies like Ledger also allow you to store Bitcoins and several other digital currencies.
How is the market and how can I learn more about it?
The cryptocurrency market varies greatly. The volatility of the market makes it more suitable for long-term play.
There are many news sites that provide information on digital currencies, including Coindesk, Business Insider, Coin Telegraph, and Cryptocoin News. In addition to these sites, there are many Twitter accounts that tweet about digital currencies, including @BitcoinRTs and @AltCoinCalendar.
Digital currencies aim to disrupt the traditional currency and commodity markets. There are still many ways to make these currencies, and the success of Bitcoins and Ethereum has proven to be a real interest in the concept. Understanding the basics of cryptocurrency investing will help you move in the right direction.