Ultimate guide to invest in crypto currency. By seeing the recent advancement in today’s digital technological world, the time is not far away when one day we may not need any kind of physical money to trade and shop, how; the answer is cryptocurrency. It is the new technological way to buy and sell nearly anything we want to trade.
Today we are going to look at some of the aspects of cryptocurrency, like:
- What is a cryptocurrency?
- Why do we need cryptocurrency?
- What are the uses of cryptocurrency?
- ways to invest in cryptocurrency?
- Top cryptocurrency in market?
- Which are the best cryptocurrencies in the market?
Before we dive into the enormous knowledge cryptos, let’s just see our blog on “how to make money on YouTube”.
Ultimate guide to invest in crypto currency
What is a cryptocurrency?
A cryptocurrency also well known as crypto coins, is digitally or virtually secure by cryptography technology. It is the form of assets that are safest, secure, fast.
Cryptos are decentralized digital assets that are based on blockchain technology. It is the kind of payment system which can be circulated without the need for any central monitoring authority like the government or banks.
Cryptocurrency is run on the distributed public ledger also popularly known as blockchain environment. All the information and records are maintained in this public ledger by the so-called miners.
Miners are people how to own a processing system that helps to process, calculate, & store the information or data about the transactions that are done with cryptocurrency coins. They need to own a very large setup of a computational power system to ensure the process is complete in a minimum period and in return they get some amount of cryptocurrency in the form of reward.
In a blockchain, “block” is composed of chunks of encrypted data & the “chain” is a public database system in which the blocks were stored and sequentially related to each other. Even all blocks in the blockchain have a special code that differentiates them from all other blocks in their existence.
Why do we need cryptocurrency?
As we all know in todays modern tech world there are some advantages and disadvantages too of it. Likewise, whenever, we use our credit cards, debit cards, net banking system, etc. all our transaction information is monitored by government entities and also some of our banking service provider also use this information in different ways too make a very huge profit without taking our permission.
Sometimes, these things could be good for some reasons but all days are not same in a whole year. Blockchain technology can remove all the middle mans and gives end to end, total private transaction system.
Now lets us take a look at various types of cryptocurrencies, and for the purposes of this piece, we’ll focus on easily the most mentioned & used as: Bitcoin (BTC) and Ether (ETH).
Bitcoin was the very first blockchain as a financial one which is created by an individual or a group, who is also knows as Satoshi Nakamoto in year 2008. A large number of retailers and internet sellers had begun to accept Bitcoins as a method of payment.
Its value has also exponentially increased to a high level such as you may have seen rumors going around the Internet such as “If I someone had brought US$100 of bitcoin back in 2012, It’d be had over US$100 million now” or a Bitcoin’s first billionaires.
Let’s jumps to Ethereum now, Ethereum is very similar to Bitcoin, it uses its own particular blockchain. It provides some built-in software programming languages (such as solidity) which can be used to write, for example, smart contracts that can be used for many purposes, including the transfer and mining of its own tradeable digital token, also well known as Ether (which is more complex than Bitcoin).
Many large banking firms are now spending money by collaborating with existing crypto clients such as JPMorgan with Zcash or developing their own cryptocurrency such as Bank of America.
Cryptocurrency, or digital assets, or virtual currencies have created a paradigm shift in the way we look at capital& also the way we look at potentially buying it.
What are the uses of cryptocurrency?
The main reason people use & trust blockchain platform is because it is totally hack proof and transparent. The security system is design in such a way that no one can interfere in others transaction and can not access any thing without with out any permission of the main/root user.
All identities of cryptocurrency owners are encrypted to ensure that their legitimacy of record keeping safe. Also, the currency is decentralized, you own it. Neither government nor bank has any control over it, only the people using can control it in their own way.
One of the widely uses of cryptocurrency is for sending and receiving payments at low cost and high speed. Some of the financial institute always take a very improper amount of % money whenever we transfer the money with from national or international bank accounts, it can be solved by making transactions in cryptos.
The world’s first incentivized social media and blogging platform called steemit. Steemit financially empowers all its users by rewarding them for contributing on the platform as they are taking its users data and selling it to third-parties like Instagram, Facebook, Pinterest does.
What are the ways to invest in cryptocurrency?
Now, we had talked a lot about cryptos, blockchain, decentralized, digital asserts & much more now we are going to understand what is the main point for all of these things why it is important. Also inspect also of this what platforms offer the gateway by which we can make money out of it.
There are many cryptocurrencies in the market right now, that have different fundamental values also used for different purpose. Investors should recognize that a cryptocurrency can be sometimes investment worthless. That’s why it’s important to have a different strategy around investing in cryptocurrencies, also they should know how to manage your risk.
Crypto trading for beginners wants to consider things like transaction fees, the type of cryptocurrencies available on the platform, special offerings like resources for education. When you think of investing in cryptocurrency, you will think about buying and holding one or more cryptos. There are many cryptocurrency exchanges from which you can choose. Please note that this is not any kind of level perfect or best and also it is ordered randomly.
1. TradeStation:
TradeStation offers an incredibly stable and reliable platform with 99% uptime. TradeStation platform has exceptional charting, technical analysis, back testing, order entry, and trade automation technology and much more.
Traders who want to use it can subscribe to use TradeStation tools: Non-professional traders pay $99 per month, while professional traders are charged $199 per month.
As a further safeguard, TradeStation maintains funds in addition to the amount required to be segregated from its own proprietary funds. Your TradeStation equities account are protected by SIPC insurance.
2. Crypto.com:
Crypto.com offers a larger list of tradable assets and lower transaction fees. However, the platform is not as easy to navigate as Coinbase, and its trading experience is not beginner-friendly either. However, depending on your needs, Crypto.com may be your best bet.
The Crypto.com DeFi wallet is a decentralized wallet where you own your private key. During wallet creation, be sure to record a recovery phrase so that you can retrieve your funds if needed.
Crypto.com makes cost easier by using a maker model that ranges from 0.04% to 0.40% maker fees and 0.10% to 0.40% taker fees. Like Coinbase, investors pay extra for using their credit card.
3. Coinbase:
Coinbase is a well-known cryptocurrency exchange that makes it easy to buy, sell and exchange cryptocurrencies. With Coinbase, you can buy Bitcoin as easily as buying stock through an online broker, but be aware of fees and poor customer service. Coinbase provides a secure way to invest and trade cryptocurrencies.
Coinbase’s convenience and ease of use come at a cost: when you buy bitcoins, the fee is 1.49% to 3.99%. Therefore, there is no point in choosing Coinbase for trading cryptos. All those it’s dependents about perspectives of different people.
4. Binance:
Binance offers a relatively secure and versatile way to invest and trade cryptocurrencies. Binance can be overwhelming for beginners and experienced traders alike. Binance is free and offers lower fees than many other cryptocurrency exchanges.
For those people who like to trade regularly it is a best platform because it very user friendly for trading point of view.
Trading fees start at 0.50% for our competitors, but maker/taker fees on Binance.US range from 0% to 0.01%. The instant purchase fee is 0.50%. Users holding BNC will also receive a 0.25% discount on transaction fees. Cryptocurrency exchanges may offer discounts to users who own certain assets and use them to pay transaction fees.
5. BlockFi:
BlockFi is designed for intermediate and advanced cryptocurrency traders looking for a one-stop shop for their cryptocurrency needs. Not only does it provide the ability to buy, sell and exchange cryptocurrencies, it also offers several products for crypto enthusiasts.
Users can earn up to 9.5% in interest by holding assets in a BlockFi interest account. BlockFi only supports 13 digital assets, while other exchanges may support hundreds, which can be the drawback for some users.
BlockFi does not charge any transaction fees when trading on exchanges. You will pay a withdrawal fee from your account at least twice a month. You will also pay issuance fees and interest on cryptocurrency-secured loans you receive through the company.
So those are some of well-known crypto exchange platforms which you can use to trade and hold the crypto currencies. there is some more platform available and can be better then above for sure but just be aware of what is good and bad for you.
Never be in harry in choosing the platform or broker because at the end of the day you earn or not but your broker is going earn when you trade, so choose it wisely.
Which are the best cryptocurrencies in the market?
Cryptocurrencies fall into 26 categories: store-of-value tokens such as Bitcoin, Litecoin, etc., yield agriculture tokens such as Aave, decentralized finance, and non-fungible tokens. There are also stablecoins whose value is determined by their existing assets.
For example, USDT derives its value from the US dollar, while GLC gold is pegged to the value of gold. There are cryptocurrencies like Siacoin created to fund special projects to solve real world problems like cloud storage.
Now, lets see the list of top 15 cryptocurrencies in the market according to their market cap:
⦁ Bitcoin
⦁ Ethereum
⦁ Tether
⦁ BNB
⦁ USD Coin
⦁ Cardano
⦁ Solana
⦁ XRP
⦁ Terra
⦁ Dogecoin
⦁ Polkadot
⦁ AVAX
⦁ BUSD
⦁ Shiba Inu
⦁ polygon
Conclusion:
So final you reach at the and of your info but there is still something is missing and that is the first step towards your dream to become a world class crypto investor.
It’s time to use your knowledge of the cryptocurrencies into a profitable action. Of course, this knowledge is still not enough to make you a crypto billionaire, but it can give you a boost up to start your journey towards crypto investing.
In this journey of your just keep in mind one thing that crypto industry is whole big industry in itself and the people who use it control it in different ways, so it is important to first educate your self before investing a very huge amount.
Also keep in mind that you have to be updated with the market because it is totally a trend base market. If you learn to flow with the market, you can earn so much that you never ever imagined in your life.
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