You have probably heard that the value of Bitcoin has reached an all-time high. With this, you wanted to join the craze. There is nothing wrong with that but you have to be careful especially if you do not have any investing experience. You need to understand first the technology and how it can affect your investment.
Introduction to crypto currency
Crypto currency is a digital currency, which use encryption techniques to generate units of currency. It can be used to transfer funds or as a form of payment. Crypto is decentralized. This means that there is no government or sole institution that operates or regulates it. Aside from that, the transactions are pseudonymous and secure boasting of fast and global transactions.
You can look at it as a digital gold. There are many types of crypto currencies if you consider trading. The most famous one is Bitcoin followed by Ethereum, Ripple, Litecoin, Monero, Dash, Augur and many more. The market is wild and fast. Every day, you see crypto currencies emerge and wither. For early adopters, they get wealthy. Some investors get money while others lose money. You have to remember though that every crypto currency holds a lot of promise but you just need to identify the best one.
If you just started crypto currency, identifying the right crypto currency is challenging. However, it will easier if you know the latest news and blockchain industry developments to keep abreast. To be an effective trader, you have to know whatever is happening around you because the bulk of your decisions will depend on the market.
However, you are wondering what are the best sources to keep up to date with the latest developments? Here’s where you should get your crypto updates:
there are many cryptocurrency news sites that you can consider these days. News sites provide instant and latest news not to mention they are easily accessible. Basically, they provide information to educate people, especially in crypto business.
In the past, you can consider Twitter as a source of crypto information and advertising but on March 26, 2108, the company announced that they would ban crypto-related advertising. Twitter followed other social media giants like Google and Facebook in clamping crypto-related advertising especially for ICO (Initial Coin Offering) and token sales.
Podcasts are digital audio files that you can download if you are a subscriber. There are many reputable podcasts related to crypto currency that you can consider. Some even interview leaders and movers in the crypto world.
Reddit is also a place that you consider where you can read web content, news, and even discussions. It is a good place to ask questions about anything you do not understand especially if it concerns crypto currency. Experts will be there to answer your queries.
It is important that you understand crypto before investing. Do not be swayed by the recommendations of friends and other people. Do not follow what people “shill” online. You need to make smart investments by doing your own research.