It’s important to remember that no one else is responsible for your cryptocurrency investments other than yourself. So think carefully before you decide to invest your money in cryptocurrencies.
When we first became interested in cryptocurrencies, we felt that there was a lot of confusion about them. At first, we were uncertain. Where would we go from? What keywords should we use and what should we consider? What resources would we find on the web to get more clarity? There comes the use of the Litecoin QR Code Generator now.
Origin of cryptocurrency
The more knowledgeable and aware people become, the more widely accepted cryptocurrencies are. The phenomenon has grown extremely fast. News headlines like “Bitcoin hit record highs” or “Ethereum’s rate is rising sharply” are increasingly featured in all news feeds. We know with certainty that the number of people who are suspicious of Bitcoin and the technology behind it is steadily declining. As people get a better understanding of the issue, interest in the cryptocurrency begins to grow. At the time of writing, the so-called “stock market value” of a cryptocurrency, which refers to assets invested in all cryptocurrencies, is approximately $ 98 billion. Just a few months earlier, it was worth about $ 30 billion.
What can its total value be in four months?
What does the market look like today for cryptocurrencies?
You have heard of Bitcoin and perhaps also of “altcoins”. This method of naming digital currencies dates back to 2011. Bitcoin copies began to spread. These clones, often called “fork”, tend to serve a specific target group better than Bitcoin. Since 2011, a huge number of cryptocurrencies have emerged to challenge Bitcoin’s position. Altcoins are steadily gaining a foothold in the market and everything is happening at an incredible pace. Cryptocurrencies have seen up to tenfold gains in as little as six weeks.
Cryptocurrencies, equities and FIAT currencies
In the cryptocurrency world, all accepted currencies are known as “fiat”, “fiat money” or “fiat currency”. Although the name includes the word “currency,” cryptocurrencies resemble equities rather than ordinary currencies. When you buy cryptocurrencies, you actually buy a technology stock, a piece of blockchain and a small piece of network.
The most common places to deal with cryptocurrencies are the stock exchanges. Stock exchanges are places where cryptocurrency can be bought and sold against “fiat currencies”. There are many metrics for assessing the reliability and quality of a cryptocurrency such as liquidity, diversification, fees and expenses, purchase and sales restrictions, trading volume, security, insurance, availability, etc. For me, Coinbase is the best trading platform. It has an easy-to-use interface and 100% encryption protection, making it an unbeatable choice.
See here for an overview of our recommended cryptocurrency exchange platforms
Once you have entered your bank account and verified your personal information in Coinbase, there are only five steps you can take to purchase Bitcoins. These five steps are:
- Go to “buy/sell Bitcoins.”
- Select a form of payment from the menu.
- Enter the amount you want.
- Click “Buy Bitcoins Now”.
Check your control panel to make sure you have received your Bitcoin
As the different steps of buying cryptocurrencies become clear and buying cryptocurrencies (such as BTC / ET) begins to attract you, you can easily make transfers from Coinbase to GDAX and start trading. Imagine that Coinbase is a place where you can buy and store cryptocurrency and GDAX is a platform for trading. Transfers between the two are handled directly and completely free of charge.
As other currencies begin to become familiar, you can start trading them as well. Then you should check out stock exchanges such as Bitrex and Kraken, which each deal in a variety of different cryptocurrencies.