The crypto world is roaring nowadays as prices take a massive growth since the last two months. But before getting a hand of it, what are the cryptocurrency risks you should be aware of?
To put it simply, cryptocurrency is a form of digital currency that is widely circulating in the investing world.
What is a Cryptocurrency?
The first ever cryptocurrency was Bitcoin created in 2009 by an anonymous developer (or group of developers) that go by the name Satoshi Nakamoto.
Here are the most important things everyone should know about cryptocurrency investing:
The Do's and Don'ts in Cryptocurrency Investing
Before you dive into investing in cryptocurrency, you have to fully understand how it works.
Cryptocurrency is basically digital cash that's not backed by banks or governments but instead uses an algorithm to prove its value and make it easy to move around.
There are many benefits to using cryptocurrency instead of other forms of payment like cash, bank transfers, or credit/debit cards.
For one thing, it helps protect your identity because there aren't any personal details tied to transactions used with cryptocurrencies.