Cryptocurrency for Beginners: 3 Things to Know Before You Invest

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If you are online, you might have already attracted to invest in cryptocurrency. The cryptocurrency world has gone far from the idea of budding towards a full-fledged market jackpot. Bitcoin and Ethereum are by far the hottest investment available right now. Bitcoin is the digital currency which is used for completing a transaction among two parties without an intermediary. Due to the blockchain technology user can manage their sales privately without cost. Now, you will understand about cryptocurrency. Here are the three things you need to know before making an investment decision:

  1. You Need A Wallet

Before you start purchasing cryptocurrency or buy an ICO, you will need a wallet. Wallets are of two types: hardware and software. For now, consider having software wallet and pick the one which is most popular.

  • Blockchain (most popular)
  • Electrium
  • Gemini
  1. Buy A Recognized Coin
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Investing in ICO is not the only option you have there are several other ways to acquire cryptocurrency from a recognized coin. Here are the top 3 famous coins to get started:

  • Bitcoin (original cryptocurrency)
  • Ripple (XRP)
  • Ethereum (second to Ripple)
  1. Time to Hit

Depending on the coin you want to invest you will need to visit an exchange or any other methods for purchasing or trading the required offerings. The common method to buy a cryptocurrency is to visit an exchange.

  • Coinbase (most popular)
  • Kraken (reviewed by insiders)
  • Bittrex (US based)
  1. Buy Bitcoin Worldwide (Offer Country-Specific Exchange)

Cryptocurrencies are here for a long haul, and if you’re planning to get involved in the trading path, it is important to understand that globally cryptocurrency is still in its initial phase. At this moment you must accept the fact that cryptocurrency is something new and is attracting a huge number of investors. If you get excited about cryptocurrency and want to have some, Coinbase is a good exchange for starters to buy Bitcoin or Ripple. Receiving profits in this market is all about timings, knowledge, discipline, and luck. If you want to invest in cryptocurrency, you must also be capable enough the handle the risk involved in it.

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