by Barry Snow
This is especially due to the fact that Bitcoin’s value has been soaring for the most part of the year and is expected to go even higher in the coming months. That, coupled with the news of large investors and many businesses accepting Bitcoin as a viable option for future trade and transactions, and you have an amazing chance to grow your investment portfolio exponentially. But, before beginners jump onto the cryptocurrency bandwagon, there are a few things that investors should keep in mind.
Choose Your Poison
For those who are just getting started with investing in cryptocurrency investing, it is crucial to make the right choice when it comes to the currency (token) you invest in. In case you were wondering, the following are some options.
BTC
The most valuable blockchain technology by far, BTC also enjoys the highest market cap, with Bitcoin still standing tall amongst all the rest. But, work still needs to be done on the technology to help bring down the current high transactional fees along with slow transaction time.
ETH
Because it is a Blockchain, it is easier to create decentralized apps and decentralized autonomous organizations than BTC. However, ETH has been an excellent option for beginners as well as experienced investors.
XRP
For those of you who do not know, the XRP is another viable option for those who are just starting out in cryptocurrency investing. This is mainly due to many huge institutions being behind it. However, at best, this is a centralized — pump and dump currency. But, it does have potential, especially for new investors who are in the US since it is most likely to be adopted by the US and Wall Street.
BCN
For those new cryptocurrency investors who have the stomach for risk, then BCN is an option that will be hard to ignore. That’s because it is an anonymous currency that is based on cryptonote, which also happens to be incredibly cheap and minable with high earning potential.
Depending on the type of cryptocurrency that you wish to invest in, you will also have to choose an exchange. Needless to say, it is crucial to choose one that is reliable and affordable as well. Many of the well-known cryptocurrency exchanges that are available offer plenty of additional features that simplify the whole process of investing in cryptocurrencies for beginners. The exchange is not just a platform that is used for trading Bitcoin and other cryptocurrencies but should also offer other value-added services and resources along with real-time updates on all of the latest happenings in the crypto space so that you are able to make a more informed decision.
As a beginner, or someone who is just starting out on their cryptocurrency investment journey, it is best to choose an exchange that offers the most features, has the best security protocols, and ensures reliable transactions without any delays. The good news is that thanks to the growing popularity of cryptocurrencies over the past year, there are many exchanges that are offering their services for beginners and expert cryptocurrency investors. For instance, the http://bitiq.app app is a great online resource where beginners can not only trade their bitcoin and make a profit but also have access to some great resources where you will find information on just about everything related to Bitcoin as well as other cryptocurrencies. The Bitcoin Era app also uses the latest security protocols to ensure the safety of their user’s data which is always an advantage.
