In this era, everything is digitalizing for making our lifestyle smooth and simple. And we are so drawn to digitization that every day, from waking up in the morning to going to bad at night we are using almost every digital application. These devices and applications have made our life easier and tension free. So, when everything is getting upgraded why keep the money behind?
This thought of making the money digitalized hascome in the mind of many people. And after allot of hard work of cryptographers and various innovations finally, in the year 2009,Satoshi Nakamo to invented the first-ever decentralized cryptocurrency Bitcoin.
‘Cryptocurrency’ also known as Digital or Virtual Currency in which various encryption techniques and algorithms are used to regulate and maintain the generation of financial transactions, creation of additional units and assets. Cryptocurrencies operate decentralized Blockchain Technology. For more detail click here https://cryptocomebackpro.co
- These Blockchainshelp in maintaining the integrity of different transactional data.
- Cryptocurrency is often denominated as ‘virtual tokens’ also.
- A good feature of cryptocurrencies is that these are not issued by any central authorities and out of any interference of government or any other legal authorities.
HOW TO INVEST IN CRYPTOCURRENCY: A BEGINNERS GUIDE
There are a lot of benefits of investing in cryptocurrencies as it helps in safe and secure transactions and many more.
Let us find out
- Liquidity: Cryptocurrency functions through blockchain technology. It is a technology thatinvolves an all device friendly ledgerand has a lot more transparency which helps in the easier transaction and restricts any type of dishonest operation.
High returns: Well, being a millennial and new way of transactions bitcoin or any other cryptocurrency holds quite a good potential of giving a high rate of return on investment. But the key to making any investment is whether the decision of buying the article is right or not.
So, Where to Begin?
So many questions might be started to coming up in your mind about where to buy these Digi coins? How much to invest? What type of coins to buy? And so on.
So hold on to your thoughts a little bit, as I’m about to explain to you all the procedures of buying cryptocurrencies.
Pick up the right exchange option: An exchange is a place or system where you can buy your currencies. This is the first and foremost step in investing in cryptocurrencies. Well, there are a bunch of exchange options available in the market some of the famous sources are: Bitfinex, Coinbase, Bittrex, Kucoin, Huobi.
But before making any investment in any of the exchanges it’s better to do some homework about these exchanges and select the one which suits your requirements.
Nowadays, new and questionable exchanges are also coming up, so it is good to take a bit more time than rushing the decision as it may result in scam and deceived.
Choose the Coins: Ok so now as you have decided from where to buyyour coins, it’s time for buying. Just like the shopping of any other articles where you go through a lot of options, cryptocurrencies also provides you different options to choose from, such as:
- Bitcoin Cash
However, among all of these options Bitcoin is the most popular one. About 5-6% of cryptocurrency investors have invested in Bitcoin.
Get Yourself a Wallet: Bought your currencies? So get a wallet otherwise where you will put your coins? For cryptocurrency there are two types of wallets available: Software wallet &Hardware wallet.
Software wallets are for those who want to keep engaged in any trading activities.
Hardware wallets are good for those who are interested in savings rather than investing.
Be Aware of Mobile Wallets: Though mobile devices are always handy they are also an easy target to be lost or get stolen. People may approach you to use mobile wallets. But it is good to avoid them if you don’t want to risk your currencies.
Get Ready for Market Rollercoaster Ride: As we all know, the market is full of ups and downs. This rule also implies in the case of cryptocurrencies. So better you invest carefully and prepare yourself in advance to deal with the ups and downs emotionally too.