Cryptocurrency is a digital asset that operates as a medium of exchange. Before getting too deep into the cryptocurrency space make sure that you are well aware of ‘do’s and don’ts before you begin investing.
The three most common uses of cryptocurrency include investing, spending and asset storage.
The Lend program that Coinbase is planning on executing, will allow Coinbase customers to earn interest on various assets on Coinbase, beginning with a 4% APY on USDC.
As of 2021, there are currently just over 10,000 different types of cryptocurrencies in circulation with the most popular ones being Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Cardano (ADA).
There is no minimum or maximum to how much money you must spend buying cryptocurrency, but a good starting point would be making a $500 – $1000 investment.
Many people believe that we are heading towards a 100% digital future. If this is the case, then they believe that we will no longer have a use for physical currency.
The legality of cryptocurrency is determined by each country. Cryptocurrency has always been legal in North America; however, China was quick to ban the use of all crypto.