Understanding the Basics of Investing in Cryptocurrencies
Blockchain-based Bitcoin is believed to have been created in 2009 by a mysterious Person known as Satoshi Nakamoto, who has not been recognised to this day. At the time of writing this essay, 17 million bitcoins have been mined, and it is expected that a total of 21 million bitcoins will be mined in the future.
How to Double your Money with Cryptocurrency
Cryptocurrencies such as Ethereum, Litecoin, Ripple, Golem, Civic, and hard forks of bitcoin such as Bitcoin Cash and Bitcoin Gold are among the most well-known digital assets. Don’t put all of your money into a single cryptocurrency, and stay away from investing at the height of a cryptocurrency boom.
While the cryptocurrency bubble is at its zenith, the price of cryptocurrencies has dropped suddenly. For this reason, investors should only spend money that they can afford to lose since the cryptocurrency market is decentralised and hence not under the authority of any government. The late Steve Wozniak predicted that Bitcoin is actual gold and that it will one day conquer all other currencies and eventually become a universal currency in the coming years.
Focus on Cryptocurrencies
In 2014, Bitcoin accounted for 90% of the market, with the remaining 10% held by the other cryptocurrencies. In 2017, Bitcoin continues to dominate the crypto industry, but its share has dropped from 90 percent to 38 percent, while altcoins such as Litecoin, Ethereum, and Ripple have developed swiftly and taken the majority of the market.
Bitcoin continues to dominate the cryptocurrency market, but it is not the only cryptocurrency to consider when investing in cryptocurrency. Some of the key cryptocurrencies to consider are:
- Bitcoin
- Litecoin
- Ripple
- Ethereum
- Tron
- Civic
- Golem
- Monero
