Guys, I will talk to you about What Is Cryptocurrency and why you should invest here. I can write the technical definition but I want to explain simply so that all the newbies understand better.
Table of Contents
What is cryptocurrency:
Cryptocurrency is a digital currency. It has no physical structure and it is completely based on an electric system which is called blockchain. Cryptocurrency is decentralized and no person can control this. Even the government and any other agency can’t control this. Because of its decentralized system, it has gained a huge popularity within a very short time. It is a rapidly growing online currency. You can simply understand it’s valued just by looking at the yearly analysis of a couple of cryptocurrencies.
How many Cryptocurrencies are currently existed:
There are tons of cryptocurrencies on the market currently right now. Every day, new cryptocurrencies are being added to the Coinmarketcap website. But we will have a look at only profitable currencies and the top currencies. Thre are some famous names. Like Bitcoin, Etherium, Litecoin, Ripple, Electronium, Bitcoin Cash etc.
Bitcoin price: $963.06 (January 1, 2017)
Bitcoin price: $13535.60 (December 24, 2017)
Ethereum price: $8.26 (January 1, 2017)
Ethereum price: $662.89 (December 24, 2017)
Ripple price: $0.006540 (January 1, 2017)
Ripple price: $0.976218 (December 24, 2017)
You may check all the detailed statistics by visiting the website name Coinmarketcap.
Why Should You Invest Here?
I have already explained what is cryptocurrency and why you should think about investing in cryptocurrency. Many researchers said that “Cryptocurrency is the future”. Honestly, 2017 was a very good time for the cryptocurrency revolution. But it is not too late to get into this boat. Think again and decide to join the revolution. I will help you by providing my knowledge with you. There are some other promising cryptocurrencies for 2018. If you don’t act now, you may regret later.
How can you earn from Cryptocurrency?
It is not a complex task. Let’s do a math. Image, The current price of Bitcoin is $10. You have bought 10 bitcoin which is equal $100. After a few months, the price has increased to $15. That means the price has increased $5 per bitcoin. As you have 10 bitcoin, you have $150 worth bitcoin. If you decide to sell them you will make $5 per bitcoin. So simple.
How to invest in Cryptocurrency:
You have to buy Bitcoin or any other cryptocurrency from the market and you have to hold them until the price goes up. You can use any exchange and you can use any local market to buy them. But the main concern is that are many scam websites. Many fraud persons are doing scam by the name of cryptocurrency. You have to select a reliable broker where you can trade and buy cryptocurrency. You have to keep in mind that it is not worldwide recognized. There are some countries who have blocked cryptocurrency though they will open the door very soon. If you are from such type of area you should use IQ Option Broker because it is the only broker which allows you to buy and hold cryptocurrency.
Nothing to worry. In my blog, I will try to cover everything so that you can invest safely from wherever you are. I will show you all the possible options to buy bitcoin and other cryptocurrencies.
When I have found that interesting topic, immediately, I have registered this domain and I decided to make a blog named Smart Income Source. Here I will be providing all the information and knowledge I get from browsing the internet.
But above all, there is risk involved in investing and you should not invest the amount that you can not afford to lose. I would recommend you to invest only if you are in a saving mood and if you don’t have any money crisis. Please be informed that I am not talking about being quick rich. I am talking about investment for futures. It may take 2-10 years. Hope you are clear and you may not take any decision that will cause your mental pressure. Be seated, think again, decide and invest. (smile)