Whether it’s the idea of cryptocurrencies itself or diversity of their portfolio, people from all walks of life are investing in digital currencies. If you’re new to the concept and wondering what are you doing, here are some basic concepts and considerations for investment in cryptocurrencies.
What cryptocurrencies are available and how do i buy them?
With a market cap of about $278 billion, Bitcoin is the most established cryptocurrency. Ethereum is second with a market cap of over $74 billion. Besides these two currencies, there are a number of creative options as well, including Ripple ($28B), Litecoin ($17B) and MIOTA ($13B). how to buy and invest in ethereum
Being first to market, there are a lot of transactions for Bitcoin trade all over the world. BitStamp and Coinbase are two well-known US-based transactions. Bitcoin. de is an established Western european exchange. If you are interested in trading other digital currencies along with Bitcoin, a crypto marketplace is where you will find all the digital currencies in one place. Here is a list of transactions according to their 24-hour trade volume.
What options do I have to store my money?
Another important consideration is storage of the coins. One option, of course, is to store it on the exchange where you buy them. However, you will have to be careful in selecting the exchange. The popularity of digital currencies has resulted in many new, unknown transactions being built everywhere. Take the time to do your required groundwork so you can avoid the scammers.
Another option you have with cryptocurrencies is that you can store them yourself. One of the safest ways for storing your investment is hardware pouches. Companies like Ledger allow you store Bitcoins and several other digital currencies as well.
What’s the market like and how can i learn more about it?
The cryptocurrency market changes a lot. The volatile nature of the market makes it more suited for a long-term play.
There are many established news sites that report on digital currencies, including Coindesk, Business Insider, Coin Telegraph, and Cryptocoin News. Besides these sites, there are also many Twitter accounts that twitter about digital currencies, including @BitcoinRTs and @AltCoinCalendar.
Digital currencies seek to break up the traditional currency and thing market. While these currencies still have a long way to go, the success of Bitcoins and Ethereum have proven that there is genuine interest in the concept. Understanding the basics of cryptocurrency investment will help you go in the right direction.