Ethereum - The Basics of Investing in Digital Currencies
Whether it is the idea of Ethereum cryptocurrencies itself or diversification of their portfolio, people from all walks of life are investing in digital currencies. For anyone who is new to the concept and questioning what's going on, here are some basic ideas and considerations for investment in cryptocurrencies.
What cryptocurrencies are available and how do I get them?
With a market cap of around $278 billion, Bitcoin is considered the most established cryptocurrency. Ethereum is second with a market cap of over $74 billion. Besides these two currencies, there are a variety of other options as well, including Ripple ($28B), Litecoin ($17B), and MIOTA ($13B).
Staying first to market, there are countless exchanges for Bitcoin company all over the world. BitStamp and Coinbase are two well-known US-based exchanges. Bitcoin. de is an established European exchange. In case you are considering trading other digital currencies along with Bitcoin, then a crypto market place is where you will find all the digital currencies in one place. Here is a place of exchanges according to their 24-hour trade amount.
What options do I actually have to store my money?
Another consideration is storage of the gold coins. One option, of course, is to store it on the exchange to buy them. However, you will have to be aware in selecting the exchange. The popularity of digital currencies has resulted in many new, unknown exchanges popping up everywhere. Check out do your due persistance so that you can avoid the scammers.
Another choice you have with cryptocurrencies is that you can store them yourself. One of the safest options for storing your investment is hardware wallets. Companies like Ledger enable you store Bitcoins and several other digital currencies as well.
Can be the market like and just how can I find out about it?
The cryptocurrency market changes a lot. The unstable nature of the market makes it more best suited for a long-term play.
There are many founded news sites that record on digital currencies, including Coindesk, Business Insider, Gold coin Telegraph, and Cryptocoin Reports. Besides these websites, there are also many Forums accounts that tweet about digital currencies.
Digital stock markets try to disrupt the traditional currency and commodity market. While these currencies still have a long way to visit, the success of Bitcoins and Ethereum have proven that there is genuine interest in the concept. Understanding the essentials of cryptocurrency investment will assist you to start in the right way.