Back to BlogWhat are Cryptocurrencies?
This won’t come as a surprise, though the adoption of cryptocurrency is on the rise. People of all ages are starting to hear about cryptocurrencies and are eager to learn more about them. So, what is a cryptocurrency? A cryptocurrency also referred to as “crypto”; it is a digital asset that can be transacted without the need of a third party such as bank or government. These cryptocurrencies enable users to transact peer to peer over what is called a blockchain.
If we have a look at the cryptocurrency market now, there are over 1000 different cryptocurrencies to choose from. However, if we look at the most popular ones by market capitalization, Bitcoin leads the race followed by Ethereum and there is good reason for this.
The Blockchain is the success driving Cryptocurrencies
This won’t come as a surprise, though the adoption of cryptocurrency is on the rise. People of all ages are starting to hear about cryptocurrencies and are eager to learn more about them. So, what is a cryptocurrency? A cryptocurrency also referred to as “crypto”; it is a digital asset that can be transacted without the need of a third party such as bank or government. These cryptocurrencies enable users to transact peer to peer over what is called a blockchain.
If we have a look at the cryptocurrency market now, there are over 1000 different cryptocurrencies to choose from. However, if we look at the most popular ones by market capitalization, Bitcoin leads the race followed by Ethereum and there is good reason for this.
How and where to invest in Cryptocurrencies?
Investing in cryptocurrencies should be at your own risk. This is largely due to cryptocurrency in its infancy and therefore very volatile. However, due to further technological advancements, accessible knowledge and mainstream adoption, crypto is becoming more accessible for retail investors. There are different ways to buy them, though one of the safest ways to do so would be from a centralized exchanges like Binance, Coinbase or Gemini. These exchanges are user-friendly exchanges and offer a wide range of cryptocurrencies. The process of opening an account is simple and users will go through a KYC (Know Your Customer) verification before being able to purchase any cryptocurrencies. Once that step is completed, the user can deposit fiat currencies such as the U.S dollar on their account and are able to purchase any cryptocurrency that is listed on the exchange of their choice. It is always important to do your research whether an exchange is available in your country.
How and where to invest in Cryptocurrencies?
As the awareness of cryptocurrencies increase among the new era of investors, one of the most common questions are ‘Am I too late to invest into cryptocurrency’?
In this respect, there are ways to identify points of supply and demand that may assist in investing in the right time. Again, this of course depends on the investor’s goals, however, anyone can learn and conduct technical analysis. Technical Analysis is just a fancy word for understanding the candles (price movements of the market).
How and where to invest in Cryptocurrencies?
Technical Analysis, depending on the trader’s experience will help them spot trends and key levels to scale their investments into the market. This is where technical analysis indicators and useful trading tools are necessary. Market Spotter could be the “go to” tool for beginner traders and investors who are looking for an edge in these markets. Market Spotter offers powerful trading indicators which were designed to analyze market conditions and spot trading opportunities for you via their buy and sell indicators. It’s gaining lots of popularity in the crypto space due to its built-in Buy and Sell signals. These useful trading tools make it easy for traders to get in and out of trades.
