When you’re investing in a cryptocurrency, your ambition is to buy and hold the coin(s) for a long period of time because you believe they will rise in value. Here’s a summary of the key differences between investing and trading cryptocurrency: Investing (long term) These are two different practices and understanding the distinction between them will help you choose how you want to make your first investment. When you’re starting out, it’s important to be aware that investing and trading are not the same thing. You can invest in several ways, and most beginner users usually opt to get a few of the most well-known coins. Some of the biggest names are Ethereum, Litecoin, and Tether – all of which are available to trade 24/7 and have achieved particular success as crypto has become ever-more mainstream. Since the emergence of Bitcoin, thousands of other cryptocurrencies have been created. The identity of the person(s) behind the project has never been revealed, but it appears that the purpose of the project was to provide an alternative form of finance in the wake of the 2008 crash that shook the banking world. The first ever cryptocurrency, Bitcoin, was launched in 2008 by an individual or group using the pseudonym Satoshi Nakomoto. Instead, they use blockchain technology to create an indisputable, decentralised record of the movement of coins and tokens that can be accessed by anyone. A beginners’ guide to cryptocurrency What are cryptocurrencies?Ĭryptocurrencies are digital currencies that do not require a centralised institution such as a bank to verify transactions.
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