What is Cryptocurrency?
Cryptocurrency (or “Crypto”) is a currency used for goods and services. A digital payment used to buy goods and services. In General, Cryptocurrency is nothing but tokens made by companies to transfer and trade specially goods and services.
Cryptocurrency mainly works on Blockchain technology its decentralized technology across many computers can manage and records transactions. Which is a part of this technology being its security.
Types of Cryptocurrency
There are more than 6,700 different cryptocurrencies that are publicly traded. Latest Market research done by Coinmarketcap the total value of all cryptocurrencies was more than $1.6 trillion till FEB 2021. And Total Value of Bitcoin was about $969 Billion.
Top Trading cryptocurrency by Market Capitalization
Top Trading cryptocurrency by market Capitalization as tracked by Coinmarketcap analytics and data
Bitcoin
Ethereum
Tether
Bitcoin Cash
Chain-link
Binance coin
XRP
Polka dot
Lite coin
Cardano
How To Get Rich With Bitcoin Even If You Have No Clue About Technology
Cryptocurrency is so Popular Why?
Cryptocurrency is most popular on varies factors below are some reason
• Cryptocurrency removes Central banks from managing the money supply.
• Technology behind Cryptocurrency, Blockchain decentralized processing and recording systems
• Cryptocurrency Can be done with more security than traditional payment system.• Cryptocurrency has long-term acceptancy as a way to move money.
Is cryptocurrency good for investment?
Cryptocurrency may go up in value. Just like real currencies, cryptocurrency generates no cash flow.
Someone needs to pay more to the currency you did.
So, it called the “great fool theory “of investment.
As NerdWallet writers said that cryptocurrency like Bitcoin is not that safe. Some Legendary investors compared bitcoin with paper checks. A proper check worth whole the Money just because they can transmit money.
For those who are ready to invest in bitcoin as a feature currency, there is less stability throughout their history. When it comes to DEC 2017 its gradually went down and now at DEC 2020, it raises the value three times. Bitcoin is more valuable in feature currency but people are not ready to spend money on them today.
How to Buy Cryptocurrency?
Cryptocurrencies including bitcoin are available to purchase in US Dollars and some others pay through bitcoin or another cryptocurrency.
To buy cryptocurrency you need to install the “Wallet” App and create an account, this app holds your currency. Create an account, in general, to exchange real money to buy cryptocurrency like bitcoin, Ethereum Etc.…
Some Popular trading exchanges like Coinbase provides you to buy both Wallets and buy and sell Bitcoin and other cryptocurrencies.
Cryptocurrency is Legal?
It depends upon the country like which it is legal in the United States and China totally bans the cryptocurrency. Beware of fraudsters who fool people to invest.
Protect yourself before Buying Cryptocurrency
If you are looking to buy Cryptocurrency, check these steps before buy.
• Company Details, who owns the company. Well established company is Good.
• Check with other investors once before invest, if they are frequently doing transactions with that particular company, it’s a good sign.
• Will you own a stake or token or just currency? This distinction is important.
• Owning a stake means you are participating in earning, which means you’re the Owner.
• The company looks to raise the money to develop it? It a less risky in it when future along with the product.
By these concerns, Having cryptocurrency is a risk of theft by hackers. On long back in 2014, some hackers got stolen hundreds of millions of dollars in Bitcoin. There a typical in investing in stocks and funds on major US exchanges.
So, is all about Cryptocurrency and types of cryptocurrency "Is Cryptocurrency is good for Investment"
How To Get Rich With Bitcoin Even If You Have No Clue About Technology
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