What Is Cryptocurrency?
Cryptocurrency is a digital currency that is designed to be anonymous, it’s secure and designed to be very lucrative. Cryptocurrency is actually considered to be a form of digital currency, but there are many important kinds of this currency you should be aware of because they each have their own environment of growth and are very different in their own aspects. Cryptocurrency can be very dangerous if you aren’t careful because of how unstable the market is, so a great rule of thumb to follow when investing in this new kind of currency is to only invest in what you’re willing to lose.
Some individuals have mortgaged their homes and ruined their lives because of the market falling the very next day. If you choose to dive into crypto, you need to learn about everything you can and be very aware of the risks.
Cryptocurrency is the modern form of money exchanges, it’s the money of the future. It’s a living and breathing environment that fluctuates in a second.
Satoshi Nakamoto is the original creator of Bitcoin, the individual who has started the cryptocurrency movement. It was a slow start, many people thought it was some kind of joke. Because it seemed simply impossible that an individual would be able to create their own money. But Nakamoto never set out to make a currency.
Satoshi Nakamoto intended: “Announcing the first release of Bitcoin, a new electronic cash system that uses a peer-to-peer network to prevent double-spending. It’s completely decentralized with no server or central authority. – Satoshi Nakamoto, 09 January 2009, announcing Bitcoin on SourceForge.”
He wanted to create a system that was different from anything anyone has ever tried before.
Why Should I Invest in Cryptocurrency?
More and more people have been jumping on the bandwagon to invest in Bitcoin and other forms of cryptocurrency.
There have been more and more risks related to cryptocurrency, but there are a ton of benefits that come along with your investment as well. Like we mentioned before, you should never invest more than you’re willing to lose, because it only takes a moment in the market for the stocks of crypto to fall. It started off as an underground venture, not many people knowing about crypto to begin with because of how hard it is to police it.
The hype has increased, more and more people have invested because of the potential gain. But you must remember that many people have gone into this field because of the hype, so you need to be able to make your own choices and choose how you invest after you fully research everything you possibly can.
A great thought to remember is a quote from Forbes: “If you haven’t invested more than you can afford to lose, none of that will be a problem. If you do decide to play the game, however, don’t be surprised to find the stakes quickly raising. If you had invested $1,000 in Bitcoin in 2011, you would have £36.7 million now. You might (if you are lucky) consider that you could afford to take a $1,000 hit for the sake of a gamble – but could you afford to take a $36 million one?”
Infographics & Research
Use all the resources you can to form your own opinion when it comes to crypto, but we’ll be listing all of the ways you can make sure you’re researching to the best of your ability.
Collect as many trusted sources as possible, search for verified websites such as education portals and government trusted websites for real information and studies. There are many schools that offer online public libraries with all possible studies and thesis’ for you to search through. This is an excellent way to gather information you need that’s fresh and relevant.
There are many easy to navigate infographics which can easily walk you through the process in many subjects, and with a topic as dense and packed full of new information, using an infographic is a great way to easily digest information in an almost fun way.
What Kinds Of Cryptocurrency Are there?
Not only has Bitcoin been a huge trendsetter for other companies to create their own form of the cryptocurrency, they’ve been almost just as popular now as crypto reaches the ears of the mainstream economic industries around the world.
The main names in the cryptocurrency realm you need to know are: Litecoin, Ethereum, Zcash, Dash, Ripple, ReddCoin, and soon to be launched Dascoin.
Cryptocurrency is a wild beast, there is a lot unknown about the industry, but it can be fun and exciting if you know what you’re getting into. Hopefully this run down has given you more of an idea of how and why you should invest. Just remember to research until your fingers hurt, because more and more information is being released every single day about this exciting and new venture.
Will you be investing in Crypto? Did you learn anything new from this article?