We’re already half way into 2022 with so many developments that have taken place all over the world. The corona virus pandemic has relapsed and US economy is in doldrums big time.
The crypto industry has also taken a hit due to which Bitcoin numbers too are fluctuating since the past few years where many people that raked in a fortune through Bitcoin purchase are seeing their worst days.
Cryptocurrency has always received mixed reactions where some people consider it a one way ticket to being a millionaire while others consider it a costly gamble where you have everything to lose and little to gain.
Both points are true to some extent and it all depends on how you want to look at the crypto industry because you need to have adequate knowledge about it before plunging into this world.
Digital Money
Youngsters that want to put their hard earned money into cryptocurrency need to know what exactly it is about otherwise they’ll end up losing everything they have. You need to be absolutely sure what you’ve signed up for.
Cryptocurrency is basically digital currency that is not regulated by any central bank, which is why many people cast a suspicious eye on it and are wary of putting their money into it.
How do you think you can only buy products with the currency? A currency becomes official only after getting the official stamp of the government with the central bank of the country regulating it.
Cryptocurrencies, as of now, have no central bank to monitor them and hence can’t be termed as official currency. This is one reason why many people are hesitant in putting their hard earned money into it for fear of getting swindled.
Let it be clear that cryptocurrency is no scam but just on how well people have understood it. Those skeptical about its nature can see it as a modern day medium of exchange done through computer network the only difference being that it cannot be vouched for by central/federal government.
Platform Base
Bitcoin investment continues to be a rage but a newbie would have little idea on how to do it. Either you need to have a bitcoin to invest or simply transfer money to the bank account of the relevant source and purchase a bitcoin.
Those that want to save more can create a Bitcoin Savings Account where it can be around 10 to 15% savings but just as with any other investment scheme, it also has its fair share of risks.
- Coinbase-
We’ll start with the most popular crypto exchange and arguably the best as you can directly invest with the help of dollars or pounds or any currency of your native country where you can get not just Bitcoin but Ethereum and Litecoin as well
Coinbase is based in US and eToro is from UK and has spread its wings throughout Europe where traders from US are also allowed to invest into it big time
- Crypto.com-
A new one in the market that has climbed the popularity charts in a short time period and is based in Hong Kong but also allows traders from US and Europe
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