How To Invest Today In Cryptocurrencies
If you have suddenly landed somewhere and got a sudden thought about investing in one of cryptocurrency, further you might be already interested in investing in any cryptocurrency like Bitcoin and Ethereum that are definitely by far the hottest investment product currently available.
In the past, various investors in cryptocurrencies have been quite successful. Let’s have a look at some figures, which shows the price of Bitcoin, Ethereum and all cryptocurrencies combined, that will also show us what is the best today and what is not amongst all for a healthy investment.
Since 2011, if we see Bitcoin generated an increase in the value of at least 25,000 percent. Since May 2016, Ethereum value shot up by 2,700 percent. And further talking about all cryptocurrencies, the complete market cap increased by 10,000 percent since mid-2013.
Why invest today in Cryptocurrencies?
There could be a various number of reasons that one could think to invest in cryptocurrency. First is that you understand like technology a lot. Secondly, you would like to support social vision behind cryptocurrencies. There are also some bad reasons why you should not invest in cryptocurrency. The main reason is that many people fall victim to the surrounding with every cryptocurrency bubble. There is always somebody who is captured by fear of missing out by buying massively just in hope to make quick money, while they are not understanding cryptocurrencies at all. You should never do this. Think before you invest in any cryptocurrency as it has high risk.
What Cryptocurrency to buy?
Until late 2016 Bitcoin was considered to be topmost and best cryptocurrency to buy. If you want to invest in the success of cryptocurrencies, you bought Bitcoin. Other cryptocurrencies are called Altcoins. However, this has completely changed. While Bitcoin is still the dominant cryptocurrency in 2017. but, it’s share in the cryptocurrency market has rapidly fallen from 90% to around 40%. Many people saw this coming as a result of the growing popularity of Ethereum.
If you want to invest in cryptocurrency, Bitcoin is still an option left. but it is no longer the onliest asset. There are others available where you can invest like Ethereum, Ripple, Bitcoin cash and more.
How to buy and store Cryptocurrency?
Let us begin with buying Bitcoin. That is the easiest part today. Some people want to invest in Bitcoin without having the trouble of storing them. There are various methods to do investments like the one you can use XBT tracker. You can open up an account at any exchange where you want to trade, verify your identity, this is required due to some rules in most jurisdictions and fund your account with Dollar, Euro or any other method that you want to use. Further, in order to store your cryptocurrency, you can store anywhere, mostly storage has been done in wallets, but it is highly recommended to not to store any cryptocurrency in your mobile phone or any other smartphone as it is highly riskable for a huge loss. It’s important to know that when storing crypto by yourself, it is solely you who is responsible for the safety and security of your coins. If your smartphones fall into the water, your coins could be gone.
If you get a malware on your computer, your coins could be gone. And so on. Further, you can sore your coin in a secure hard drive or any other drive. One of the safest options to store Bitcoins or any other coins is hardware wallets like Trezor. This is either smart cards or micromachines, which can generate keys and sign transactions without the main computer directly involved in any transaction.
Buy any coin and sell according to market conditions, but always remember one point whether you buy bitcoin or any other altcoin, do proper research in market and then choose to buy. Because the coin which you will buy will always tell what profit will you earn in future or whenever you sell it.
Bit Woolly - A customized technology solution to create and launch ICO. With blockchain technology, Bit Woolly's ICO platform provides various inbuilt features of Wallet Facility, Smart Contracts, Trade and Exchange, and Highest Security Standards. Bit Woolly's morality market expertise helps your business flourish and get a major advantage on a higher scale.