Introduction: To buy Cryptocurrencies
The first cryptocurrency which comes into the existence was Bitcoin which was built on Blockchain technology and probably it was launched in 2009 by a mysterious person Satoshi Nakamoto. At the time writing this blog, 17 million bitcoin had been mined and it is believed that total 21 years old million bitcoin could be mined. The other most popular cryptocurrencies are Ethereum, Litecoin, Ripple, Golem, Civic and hard forks of Bitcoin like Bitcoin Cash and Bitcoin Gold.
It is advised to users to not put all money in one cryptocurrency and lower investing at the peak of cryptocurrency bubble. It has been observed that price has been suddenly dropped down when it is on the peak of the crypto bubble. Since the cryptocurrency is a volatile market so users must invest the amount which they can afford to lose as there is no control of any government on cryptocurrency as it is a decentralized cryptocurrency.
Bob Wozniak, Co-founder of Apple predicted that Bitcoin is a real gold and it will dominate all the stock markets like USD, EUR, INR, and ASD in future and be accepted as global currency in coming years.
Why and Why not Invest in Cryptocurrencies?
Bitcoin was the first cryptocurrency which came into existence and thereafter around 1600+ cryptocurrencies has been launched with some unique feature for each coin.
Some of the reasons which i have seen and would like to share, cryptocurrencies have been created on the decentralized platform - so users don't require an authorized to transfer cryptocurrency in destination to another one, unlike fiat currency where a user have to have a platform like Bank to transfer money in account to another. uniswap
Cryptocurrency built on a very safe blockchain technology and almost nil possibility to compromise and steal your cryptocurrencies and soon you don't share your some critical information.
You should always avoid buying cryptocurrencies at the high point of cryptocurrency-bubble. Many of us buy the cryptocurrencies at the peak in the hope to make quick money and fall victim to the hype of bubble and lose their money. It is far better for users to do a lot of research before investing the money. It is always good to put your money in multiple cryptocurrencies instead of one as it has been pointed out that few cryptocurrencies grow more, some average if other cryptocurrencies go in the red zone.
Cryptocurrencies to focus
In 2014, Bitcoin holds the 90% market and rest of the cryptocurrencies holds the rest of the 10%. In 2017, Bitcoin is still taking over the crypto market but its share has sharply gone down from 90% to 38% and Altcoins like Litecoin, Ethereum, Ripple has grew rapidly and captured the most of the market.
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