It is hard to believe that in a mere 12 years, Bitcoin, and cryptocurrency in general, have completely changed the way we look at financing and the financial industry. More and more people are investing in digital currency, with an estimated 17% of the American adult population admitting to having invested money in cryptocurrency. Not only that, but young people are investing in cryptocurrency more than any other previous generation.
The appeal of cryptocurrency is clear. Today, when surveillance is at an all-time high, and when people have lost their faith in the traditional investment methods of the past, cryptocurrency provides a great alternative, through which anonymity are freedom are placed in the forefront. On top of that, cryptocurrency has the potential to change a person’s life in the blink of an eye, with many early investors becoming overnight millionaires.
With all of this in mind, there are many people still unaware of what cryptocurrency is and how crypto trading works. In this article we will take a look at some of the things to keep in mind before dipping your toes into the world of cryptocurrency, and becoming an investor.
Cryptocurrency: What is it?
The most important question to answer is, just what exactly is cryptocurrency. Cryptocurrency is a digital currency, which uses cryptographic encryption technology to make secure payments and ensure privacy and anonymity. Most cryptocurrency is decentralized, which means they are not beholden to banks or governments. This means that users of cryptocurrency are not obligated to pay transaction fees to the banks like one would have to using fiat currencies.
How Does One Trade Cryptocurrency?
Cryptocurrency can be acquired and traded in many ways. The simplest way for anyone to start out in the world of crypto trading is to make an account on one of the numerous crypto trading sites. These sites place user safety and security as their top priority, and they are remarkably easy to access, as all one needs to do is create an account using an email.
If you are wondering where to buy xrp, look no further than the site linked. The site promises high returns on user investments, and has hundreds of reviews vouching for the site’s success. On top of everything the site uses artificial intelligence technology to predict the changes and fluctuations associated with the crypto market, and make sure that their user-base gets the absolute best return on their investment.
Another way to get your hands on cryptocurrency is to use the many Bitcoin ATMs. Despite the name, most of these machines provide access to multiple kinds of cryptocurrencies. It is important to note that cryptocurrency ATMs charge higher fees than crypto trading sites. Whereas most crypto trading sites only take a fee between 1% and 5%, Bitcoin ATMs charge 15-20%.
What are the Best Cryptocurrencies on the Market Right Now?
The crypto market in 2022, is absolutely flooded with options. There is an estimate, that the number of cryptocurrencies today exceeds a thousand. Whether this is true, or not, one thing is for certain: There are many worthless cryptocurrencies that amount to throwing away your money. However, some of the best cryptos, rise above the rest. In this section, we are going to look through the best of the best.
The first cryptocurrency, and to this day the most profitable and highly-valued is Bitcoin. It got its start in 2009, when it was worth only $0.0008. Over time, the cryptocurrency market grew, and with it, the prices of Bitcoin. In 2020, Bitcoin reached its peak, its values exceeding the $20,000 mark, and steadily growing throughout the year.
While the coin’s price has dropped since then, the crypto remains the most popular and profitable on the market today. It is estimated that Bitcoin will retain its position as number one in the years to come, and will face no opposition from any of its competitors. Speaking of its competitors…
Other than Bitcoin, Ripple is one of the most popular cryptocurrencies on the market today. In the minds of many, XRP might even be the superior product. For one, it is much cheaper. New investors can purchase Ripple in bulk, and hope that it accumulates over time, so that they can get a greater return on their investment. Of course, like all cryptocurrencies, Ripple’s downside is the major rate of volatility, so remember that, just because you’ve bought in, doesn’t mean you will get a good return. As with any investment, cryptocurrency carries risks.
Ranked second on the crypto market today, Ethereum is slowly gaining popularity. Quite a lot of investors believe that it may even overtake Bitcoin in a few years. While these claims are highly disputed by experts, what isn’t disputed is that Ethereum is a quality crypto, the esteem of which is likely to continue to rise in the coming future.