Whether it’s the concept of cryptocurrencies itself or diversification of the portfolio, people from all walks of life are investing in digital currencies. If you are new to the concept and wondering what’s happening, here are some basic concepts and considerations for investment in cryptocurrencies.
What cryptocurrencies are available and how do I buy them?
With a market cap of about $278 billion, Bitcoin is the most established cryptocurrency. Besides these two currencies, there are a range of different choices also, such as Ripple ($28B), Litecoin ($17B), and MIOTA ($13B).
Being first to market, there are a lot of exchanges for Bitcoin trade all around the world. BitStamp and Coinbase are two renowned US-based exchanges. Bitcoin.de is a recognized European market. If you are thinking about trading other electronic currencies combined with Bitcoin, then a crypto market is where you will find all the electronic monies in one place. Here is a list of exchanges according to their 24-hour trade volume.
What choices do I have to store my money?
Another important consideration is storage of the coins. 1 option, of course, would be to keep it to the exchange in which you purchase them. However, you’ll need to be cautious in selecting the exchange. The prevalence of digital monies has caused many new, anonymous trades popping up anywhere. Just take the time to do your due diligence so that you are able to avoid the scammers.
Another option you have with cryptocurrencies is you could save them yourself. Among the safest options for keeping your investment would be hardware wallets. Companies like Ledger allow you store Bitcoins and several other digital currencies as well.
What’s the market like and how can I learn more about it?
The cryptocurrency market fluctuates a lot. The volatile nature of the market makes it more suited for a long-term play. know more coinmarkets.net click above the link