We’ve all heard of fortunes made (and sometimes lost) in the Wild West that is the cryptocurrency market. The risk and volatility scares many investors off, and rightly so if you’re a traditional, old-school investor.
However, the fact remains that we are in an era of unprecedented opportunity in the cryptocurrency market. Do you ever wish you had invested in the first wave of computer and internet start-ups? Well, I can’t offer you a time machine, but I can offer you the tools to become an informed investor ready to capitalize on this hot market.
What are cryptocurrencies and why would I want them?
Cryptocurrencies are digital assets that can be bought and sold online and, as such, can be used as alternative investment vehicles. Due to the meteoric rise of Bitcoin and some other cryptocurrencies, investing in these assets can be extremely profitable.
How many kinds of cryptocurrencies are there?
There are almost 1400 cryptocurrencies in circulation. Among the most well-know cryptocurrencies are Bitcoin, Ethereum, and Litecoin.
How do I invest in cryptocurrencies?
You can purchase cryptocurrencies from large exchanges like Coinbase or invest indirectly through a Bitcoin-based stock (ticker symbol GBTC) or by investing in companies that are pursuing cryptocurrencies and related technologies (such as LFIN, OTIV, or RIOT). Alternatively, if you’re not a cryptocurrency believer, you can short these stocks and profit as they lose value.
3 thoughts on “Cryptocurrency 101”
Hi, You probably saw how Bitcoin increased over 900 over the course of last year. It was wild – but not totally unprecedented if you’d been watching cryptocurrency over the last several years. And here’s the crazy thing; There are many other coins that still have tons of room to grow. You may have heard of Ethereum, Litecoin, Ripple, and others… …but there are more coins – and many more opportunities – Follow this link to get the full story. http://bit.ly/-cryptocurrency Best regards
I think there still is great potential to make some hefty profits on both the established and up-and-coming cryptocurrencies but the key is when to get in (and out) unless you’re truly long on both the currencies themselves and widespread blockchain adaptation. While I am generally long on both, I see some potential volatility that might prevent me from taking any leveraged positions, something that, while quite risky, I will do with traditional investment tools.
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