How To Invest In Cryptocurrencies

Buy the currency of the future

Cryptocurrencies have made early investors crazy rich; Bitcoin in particular. Bitcoin used to be worth pennies on the dollar and then recently exploded with popularity, with pricing soaring up to nearly $20,000. If you had invested $1000 in Bitcoin when it was worth, say, one cent, and sold it all when it was worth $20,000, you would’ve made almost 2 billion dollars. That’s an insane amount of profit.

Cryptocurrencies are digital currencies that use encryption techniques to regulate their units and transfer them from person to person. Bitcoin was the first of these currencies, invented in 2009, and since exploded in popularity. A whole new subculture formed with cryptocurrency fanatics who collect and even design their own currencies.

Before you throw money at these currencies, it’s important to note that the prices are very volatile and they do trading on a 24-hour basis. You can go to sleep at night and wake up the next morning with your portfolio up or down thousands of dollars. That’s just the name of the game. Therefore, don’t spend money on cryptocurrencies that you aren’t willing to lose.

As you can see, Bitcoin is the most dominant player in the game but, as of recent, other cryptocurrencies are getting strong footholds in the market.

To invest in a cryptocurrency, you first need to get a specialized wallet. These wallets use a personal address to send and receive the cryptocurrency. If someone had a copy of your address, they’d be able to send you cryptocurrency from their wallet to yours.

The first cryptocurrency most people buy is Bitcoin, since it’s the most well-known one out there. Nowadays Bitcoin has a pretty steep price but, don’t worry, you…

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