Beginner’s Guide: Introduction in Cryptocurrencies

The first cryptocurrency which makes the existence was Bitcoin which was built on Blockchain technology and probably it was launched just last year by a mysterious person Satoshi Nakamoto. At the time writing this blog, teen million bitcoin had been mined and it is believed that total 21 years of age million bitcoin could be mined. The other most popular cryptocurrencies are Ethereum, Litecoin, Ripple, Golem, Civic and hard forks of Bitcoin like Bitcoin Cash and Bitcoin Gold.

It is advised to users to not put all money in one cryptocurrency and stay away from investing at the peak of cryptocurrency bubble. It has been observed that price has been suddenly dropped down when it is on the peak of the crypto bubble. Since the cryptocurrency is a volatile fx사이트 market so users must invest the amount which can afford to lose as there is no control of any government on cryptocurrency as it is a decentralized cryptocurrency.

Charlie Wozniak, Co-founder of Apple believed that Bitcoin is a real gold and it will dominate all the stock markets like USD, EUR, INR, and ASD in future and turn into global currency in coming years.

Bitcoin was the first cryptocurrency which has been around since and thereafter around 1600+ cryptocurrencies has been launched with some unique feature for each coin.

Some of the reasons i always have noticed and would like to share, cryptocurrencies have been created on the decentralized platform — so users don’t require an authorized to transfer cryptocurrency from destination to another one, unlike fiat currency where a user require a platform like Bank to transfer money from account to another. Cryptocurrency built on a very safe blockchain technology and almost nil opportunity to hack into and steal your cryptocurrencies unless you don’t share your some critical information.

You should always avoid buying cryptocurrencies at the high point of cryptocurrency-bubble. Many of us buy the cryptocurrencies at the peak in the anticipate to make quick money and fall victim to the hype of bubble and lose their money. It is best for users to do a lot of research before investing the money. It is always good to put your money in multiple cryptocurrencies instead of one as it has been pointed out that few cryptocurrencies grow more, some average if other cryptocurrencies go at a negative balance zone.

In 2014, Bitcoin holds the 90% market and other countries in the cryptocurrencies holds the remainder 10%. In 2017, Bitcoin is still owning the crypto market but its share has sharply dropped from 90% to 38% and Altcoins like Litecoin, Ethereum, Ripple has exploded rapidly and captured the most of the market.

Leave a Reply

Your email address will not be published.