To Invest in Cryptocurrencies (Introduction)
Bitcoin was the first cryptocurrency to be created, and it was based on Blockchain technology. It was most likely founded in 2009 by a mystery figure known as Satoshi Nakamoto.
At the time of writing, 17 million bitcoins had been mined, with a total of 21 million bitcoins expected to be mined. Ethereum, Litecoin, Ripple, Golem, Civic, and hard forks of Bitcoin including Bitcoin Cash and Bitcoin Gold are among the most popular cryptocurrencies.
Users are urged not to put all of their money into one cryptocurrency and to avoid investing during the pinnacle of the cryptocurrency bubble. It has been noted that when the crypto bubble is at its pinnacle, the price drops dramatically.
Because cryptocurrency is a volatile market, users should only invest the amount they can afford to lose. Because cryptocurrency is decentralized, it is not under the control of any government.
Steve Wozniak, Apple’s co-founder, projected that Bitcoin will become a worldwide currency in the next years, dominating all other currencies such as the USD, EUR, INR, and ASD.
Why Invest in Cryptocurrencies and Why Not?
Bitcoin was the first cryptocurrency to be created, and since then, over 1600 cryptocurrencies have been released, each with its own set of features.
Some of the reasons I’ve encountered and would like to share are that cryptocurrencies were created on a decentralized platform, which means that users don’t need a third party to transfer cryptocurrency from one location to another, unlike fiat currency, which requires a platform such as a bank to transfer money from one account to another.
Cryptocurrency is based on the extremely secure blockchain technology, with nearly little danger of being hacked and having your coins stolen unless you provide some essential information.