What Cryptocurrency Should You Invest In: Short Intro to the World of Crypto

The world of cryptocurrency can seem like a maze at first. There are lots of new words to learn, and it can be hard to keep track of all the different coins and tokens out there. But in this article you will get a brief introduction on what cryptocurrency is and what the most popular ones are. The market for cryptocurrency is growing fast, with new investors pouring money into digital coins every day. If you’re interested in getting involved before the ground really begins to thaw, read on to learn more about investing in cryptocurrencies, why they are a good investment and which ones you should look out for.

What is Cryptocurrency?

A cryptocurrency is a type of digital money that doesn’t require a central bank or any other authority to control its value. The most popular examples of cryptocurrencies are Bitcoin, Ethereum and Ripple. If you want to invest in cryptocurrency, you need to know that they are completely different to what you might normally think of as ‘currencies’. In fact, most people think of cryptocurrencies as ‘assets’, not money. This is because they are digital — they exist in cyberspace, not in your hand or in a bank account. If you want to exchange your cryptocurrency for ‘real’ money (or ‘fiat’ money, as it’s known in cryptocurrency circles), you’ll first need to sell it for another cryptocurrency. You can then use that to buy ‘real’ money.

How To Invest In Cryptocurrency

The first thing to do is decide how much you want to invest. Many people decide to put just $50 or $100 into a crypto investment. This is a great way to get your foot in the door and see how the process works before committing larger sums. Once you’ve decided how much to invest, you’ll need to open an account with an online crypto exchange. There are lots of different exchanges out there. Some are better than others, and some are targeted at different types of investors. Once you’ve found an exchange you like, you’ll need to transfer money from your bank account to your new crypto exchange account. This process can take a few days, so don’t leave it until the last minute if you want to make a purchase. Once your money has arrived in your exchange account, you will be able to buy different cryptocurrencies. You can take your time to decide which ones to buy, or you can buy a ‘mutual fund’ that invests in lots of different coins.

Which Coins Should You Look At?

There are lots of different cryptocurrencies out there, and some are definitely better investments than others. It’s possible that a few of these will drop in value, while others could soar to new heights. We think that Bitcoin, Ethereum and Ripple are three of the better coins to invest in. They have a good track record and lots of investors are predicting good things for these coins. They are also traded on lots of different exchanges, so they are easy to buy. If you decide to buy one of these three, you have a couple of options. You can buy them directly with your bank account, or you can buy another cryptocurrency and then exchange that for Bitcoin, Ethereum or Ripple.

Ethereum

Ethereum is one of the best-known cryptocurrencies, and it’s also one of the most valuable. The Ethereum network is used for the creation and execution of smart contracts and decentralized applications (dapps) that are not controlled by any central authority. Ethereum is also being used for the creation of new digital tokens called Initial Coin Offerings (ICOs). Ethereum has been very popular with investors and it has grown from around $20 per token in early 2017 to a peak of over $1,300 per token in early 2018. If you’ve invested in Ethereum, you’ve definitely done well in 2018.

Bitcoin

Bitcoin is the original cryptocurrency, and it’s the one that got the whole thing started. Bitcoin is a digital payment network that allows people to send money to each other without the need for any central authority. Bitcoin has been around since 2009, which means it’s definitely proven itself as a viable investment. If you’ve only just discovered cryptocurrency and you want to invest in it, you might want to start with Bitcoin. There are lots of different exchanges where you can buy Bitcoin. Once you own it, you can store it in a digital wallet, or you can sell it back for ‘real’ money.

Ripple

Ripple is a network for the creation and transfer of money between different currencies. You might think that’s pretty similar to Bitcoin, and you’d be right. The main difference between these two is that Ripple is designed for use by banks and financial institutions. For this reason, Ripple may be a better investment than other coins in the long run. There are lots of big banks and financial institutions looking into Ripple, and some have even started to use it. If you’re interested in investing in Ripple, it’s best to buy the tokens directly. Trading another cryptocurrency into Ripple is more complicated and not as easy.

Litecoin

Litecoin is a ‘spin-off’ of Bitcoin. It’s based on the same technology, but it was built as a ‘clone’ of Bitcoin to allow people to experiment with the blockchain technology. It’s also an easy token to invest in because you can buy it directly with your bank account. It’s harder to trade another cryptocurrency for Litecoin. Litecoin is a less well-known token, and it’s definitely a riskier investment. But if the price of Bitcoin goes up, the price of Litecoin will go up even more.

Summary

If you want to get involved in the exciting world of cryptocurrency, now is the best time to do it. There are lots of different coins out there, and some are better investments than others. If you want to get started, the first thing you need to do is open an account with an online crypto exchange. Once your account is open, you can buy different cryptocurrencies with your bank account. Once you own a few different coins, you can keep track of their value and see how they are doing relative to each other. If you’re thinking of investing in cryptocurrency, now is the perfect time to do it. The market is still wide open for new investors, and now is the perfect time to get involved.