How to Get Started Investing in Cryptocurrency
Until this point, you’ve probably discovered more than enough about the cryptocurrencies. While you may or may not trust the silent revolution of the money, one thing is for sure, you’ve got some money, and you’d like to invest.
Whether you’re looking to earn more money or you support the vision behind it, investing is the step you will take. Being a technology geek is definitely a plus, but if you aren’t one, worry not, there’re plenty of ways to go around.
Join us in this short cryptocurrency guide where we present you with ways to invest your money smartly. Here, you will find out how and where to buy cryptocurrency and which alt coins are worthy of your attention.
So, to get back at the point, you know that Bitcoin is your first step, and even though it’s considered that the Bitcoin is merely the beginning, one cannot deny that its future is still the brightest.
Bitcoin until this day remains the best cryptocurrency to invest in, and here is why. Bitcoin has been on the market for quite a while, and while there were others besides it, Bitcoin was the only one out in the open. Some cryptocurrencies are to this day not only risky but shady, but Bitcoin is an old story. Where to buy cryptocurrency, you may wonder.
The process of buying one isn’t complicated as it used to be. You find the exchange site online, sign up for the account, verify your identity, load up your account with fiat currency you happen to possess, and you’re ready to trade. It’s recommended that you find the exchange that is the nearby, even though it’s safer you choose the exchange in the country with a better legal system.
It also depends on the number of coins that you decide to purchase and the patience. If you’re in for a long run, then small exchanges are good, to begin with, as you’ll make your own decisions later on, but the decision should also be based on the amount of the money you decide to invest.
So, if you’re new to the platforms, we’d recommend that you start with Coinbase. Based in California, Coinbase is #1 platform for buying, selling and storing your coins, and the most importantly simple to use.
As these are mainly technicalities, let us share with you our views on the market and what we believe is the best move when it comes to cryptocurrencies.
Before we do so, let us introduce you to the other cryptocurrencies beside Bitcoin. Commonly known as alt coins, these cryptocurrencies aren’t necessarily new, but definitely are significant when it comes to the trade market.
You’ve probably heard of the Ethereum and Ripple, but there are also some that deserve a mention like Litecoin, Skycoin and Stellar.
While investing in the alternative cryptocurrencies offered on the market is risky, most of the people still decide to do so, since it provides them with the chance these might be as valuable as Bitcoin is now.
Behind each of these lies a story, but to invest, one must know a thing or two about them. What we would recommend is to look out for the privacy oriented cryptocurrencies, as those may look easy to invest in, but they carry considerable risk.
While Ripple is considered to have the great future due to the fact it already fights to become the actual currency in the banks, Etherium may also be a good choice if you’re sick of the shady paper trails and in need of smart contracts.
Litecoin, on the other hand, is a peer-to-peer cryptocurrency while Skycoin and Stellar are third-generation cryptocurrencies.
Seasoned traders know to recognize to potential, but if you ask for some real advice, we’d recommend you hold on to the Bitcoin until you’re absolutely sure other cryptocurrencies are safe to be invested in.
Also, make sure you know what are they used for, as some cryptocurrencies aren’t there to merely replace the fiat currency.
There’s much more going on, and even though the idea of cryptocurrency revolution may seem pure, one cannot ignore the fact there’s a lot of it going on.
To wrap it up, we’ll once remind you that Bitcoin is still the only known currency which is entirely safe, and while it may or may not have reached its highest value, you should definitely put your money on it. Who knows what a new day on the market brings.
