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 familiar with this concept and are interested in what is happening, here are some basic concepts and considerations for investing in cryptocurrencies.
What cryptocurrencies are available and how can I get them?
With a market value of about $ 278 billion, Bitcoin is the most established cryptocurrency. Ethereum is second 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).
As the first to enter 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 stock exchange. If you are interested in trading other digital currencies along with Bitcoin, then the crypto market is a place where you can find all digital currencies in one place. Here is a list of exchanges by 24-hour trading volume.
What options do I have to save my money?
Another important point is the storage of coins. One option, of course, is to keep them on the stock exchange where you bought them. However, you need to be careful when choosing an exchange. The popularity of digital currencies has resulted in the emergence of many new, unknown exchanges everywhere. Take the time to do the necessary research to avoid scammers.
Another option for cryptocurrencies is to be able to keep them yourself. One of the safest options to save your investment is hardware wallets. It also allows companies like Ledger to store Bitcoins and a number of other digital currencies.
How is the market and how can I learn more about it?
The cryptocurrency market is changing a lot. The changing nature of the market makes it more suitable for long-term play.
There are many established 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. While these currencies are still a long way off, 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.