One of the hot topics everywhere these days is “CRYPTOCURRENCY“
But is it worth it?
Is it a good investment?
What does it take to get started? Why should you care about it?
This post is a summary of what you should know about Cryptocurrency,
The basics of blockchain,
How to Invest in Crypto and why you should care about Bitcoin.
Let’s unpack what in the world is crypto first.
WHAT ARE CRYPTOCURRENCIES?
I’m sure you have probably heard the term “cryptocurrency” being tossed around now and again, but what does it really mean?
Basically, Cryptocurrency is a type of money that exists entirely online
It doesn’t have a physical form,
It is not controlled by a financial intermediary, a bank, a currency exchange, or even a government but it exists on a ledger system known as Blockchain.
A blockchain is a specific type of data that is stored electronically on a computer system
In Bitcoin’s case, A blockchain is used in a way that no single person or group, has control. Typically, all users retain control.
This also means that the transaction data entered are irreversible, permanently recorded, and viewable.
Imagine you buy a property, you get a “deed of conveyance” to make sure no one else has a claim to the property
If all the title changes were recorded on a blockchain, there would be no need for the deed of conveyance...........The registration would be irreversible and very visible on a blockchain ledger.
WHY SHOULD ANYONE INVEST IN CRYPTOCURRENCY?
Ever heard of Bitcoin, Dogecoin, Litecoin, XRP, or Ethereum?
They’re actually types of cryptocurrency (aka digital money). And they’re trending everywhere you look.
But the million-dollar (crypto?) question here is, should you invest in cryptocurrency?
Well, the global data analytics company just predicted that the revenue from blockchain platforms and services will soar from 14 billion dollars in 2020 to 199 billion dollars in 2030.
According to another survey by “The Ascent”, 21 million Americans, own Bitcoin.
In fact, half of them bought it during the last 12-month.
Also, El-Salvador became the very first country to adopt Bitcoin as a legal tender
This information simply means that Crypto markets are being established, and many companies are gaining direct exposure to the cryptocurrency sector.
It's possible to get filthy rich by investing in cryptocurrency in 2021. But you could also lose all of your money. How can both be true?
Truth is, the road to building wealth is slow and steady, and there are still way too many unknowns when it comes to cryptocurrency, the more reason you should start your crypto investing & trading journey with a well-experienced investor, one who understands how the crypto market works; what moves prices up and down, who cares about protecting your hard-earned money.
More so, one who is willing to teach you all you need to know about crypto at no cost. To help you invest, trade right and groom you with a one-on-one guide is why CryptoHood exits.
TO BE CONTINUED!
No comments:
Post a Comment