Today, people that come from different levels of society are investing in cryptocurrency, whether it is for the diversification of their respective portfolios or the sheer interest of
cryptocoin market itself. And if you are new to this concept, it's normal to wonder how it works and what's with it. Here are the basics to easily understand cryptocurrencies and the things to consider when to join the trade.
Available digital currencies
Among all of the established cryptocurrencies, Bitcoin is the most popular one with a market cap of about $97 billion. Ripple is second with a market cap of over $19 billion. Apart from these two digital currencies, there are other options such as Ethereum ($18B), Bitcoin Cash ($7B), and Stellar ($4.6B).
There are existing exchanges for cryptocoin trade all over the world. So, if you are interested in trading with other cryptocurrencies, there will always be a crypto marketplace where you can find all digital currencies.
Options to store cryptocoin
Where you store your coins is another important thing that you should consider. The specific exchange where you are able to buy your coins is your storage option. But note that you need to be very careful in choosing an exchange, given that there are a lot of unknown exchanges popping everywhere due to the increasing popularity of digital currencies. You might end up with unreliable exchanges, so, take your time in searching for the right exchange to avoid scammers.
The
cryptocoin market The digital currency market does fluctuate a lot, making it more suited for a long-term play. News sites such as Business Insider, Coindesk, Coin Telegraph, and Cryptocoin News are some of which are established in reporting about updates in the cryptocurrency world. Also, there are many Twitter accounts that post tweets that talk about digital currencies.
Disrupting the commodity market and traditional currency is one of the goals of the
cryptocoin market. The success of the present's most popular cryptocurrencies are proofs that many are interested in the concept. Knowing the basics of cryptocurrency investment is your portal to the crypto world.