Whether it is the idea of cryptocurrencies themselves or the diversification of their portfolio, people of all walks of life invest in digital currencies. If you’re just starting out, thinking about what’s going into cryptocurrencies, here are some key pointers in moving forward.
What cryptocurrencies are available – how to buy them?
With a market capitalization of about $ 278 billion, Bitcoin is the most established cryptocurrency. Ethereum is second with more than $ 74 billion in market capitalization. In addition to these two currencies, there are a number of other options, including Ripple ($ 28B), Litecoin ($ 17B) and MIOTA ($ 13B).
As the market leader, there are many bitcoin exchanges around the world. BitStamp և Coinbase are two well-known exchanges in the United States. Bitcoin.de is an established European stock exchange. If you are interested in trading other digital currencies with bitcoin, then the crypto market is where you will find all the digital currencies in one place. Here is the list of exchanges according to their 24-hour trading volume.
What options do I have for saving money?
Another important consideration is the preservation of coins. One option, of course, is to stock up on the stock exchange where you buy them. However, 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 do your due diligence to avoid scammers.
Another option you have for cryptocurrencies is that you can keep them to yourself. Hardware wallets are one of the safest ways to keep your investments. Companies like Ledger allow you to store bitcoins և a number of other digital currencies.
What is the market like – how can I find out more about it?
The cryptocurrency market is very volatile. The volatile nature of the market makes it more suitable for long-term play.
There are many reputable news sites reporting on digital currencies, including Coindesk, Business Insider, Coin Telegraph and Cryptocoin News. In addition to these sites, there are also numerous Twitter accounts that tweet about digital currencies, including @ BitcoinRTs և @ AltCoinCalendar.
Digital currencies are intended to disrupt the traditional currency և commodity market. While these currencies still have a long way to go, the success of Bitcoins և Ethereum has proven that there is a real interest in the concept. Understanding the basics of investing in cryptocurrency will help you get it right.