Introduction To Cryptocurrencies
Bitcoin is probably the first cryptocurrency. This was created in 2009 and built with Blockchain Technology. As this blog is being written, 17 million Bitcoins have already been produced. However, 21 million are believed to be possible. Ethereum, Litecoin Ripple Golem Civic Civic and Bitcoin Cash Gold and Bitcoin Gold hard forks were the next most popular cryptocurrencies. Read more now on cryptocurrency news.
You should avoid investing in the cryptocurrency bubble at its peak. Observations have shown that the prices of cryptocurrency suddenly drop when they are on top of the crypto-bubble. Because the cryptocurrency market can be volatile, investors must only invest an amount they’re willing to risk. This is because there are no government controls on the decentralized cryptocurrency.
Steve Wozniak – Co-founder Apple – predicted Bitcoin as a true gold that will soon dominate all currencies including USD, EUR INR ASD, in future.
Why or Why Not Invest In Cryptocurrencies
Bitcoin was first to be launched and since then around 1600+ coins have been released, each with a unique feature.
In my experience, and I want to share it with others, crypto currencies are created on a decentralized system. They don’t have a need for a middleman to help users transfer currency from one place to another, unlike fiat, where you would require an intermediary like a Bank in order to make a transfer from one bank account to another. Bitcoin is built with a secure Blockchain Technology. Hackers and thieves have a low chance of stealing your cryptocurrency if you are not willing to share critical information.
You should always avoid buying cryptocurrencies at the high point of cryptocurrency-bubble. Those who buy at the top in order to gain quick profit often fall for the hype, and they lose money. Doing research is advisable before making an investment. When investing in cryptocurrencies, you should invest money in a variety of them.