Why Invest in Cryptocurrencies And Why Not?
- Besides what was already said, there are three major good reasons to invest in cryptocurrencies. First, because you want to hedge your net-worth against the fall of the Dollar imperium, which is assumed by many people to inevitably happen at some time.
What Cryptocurrencies Should I buy?
- The former only crypto has been Bitcoin. Up until late 2016 Bitcoin was the cryptocurrency, and there was not much besides it. If you wanted to invest in the success of cryptocurrencies, you bought Bitcoin. Period.
- Etherum
- Ripple
- Litecoin
- Dash
- Monero
- And more
Buying other Cryptocurrencies
- The Altcoin exchanges have less strict KYC (know your customer) rules, as here you usually don’t trade with fiat money. You can fund your account with Bitcoin, which serves as a unit of account for the altcoin markets, similar to the Dollar’s function on the Forex markets.
How To Store Cryptocurrencies?
- If you invested not only in Bitcoin but in several Altcoins, there is usually no way around keeping coins on an exchange. You don’t want to get in the trouble of installing, compiling, malware checking, using, syncing and updating the software for every coin you invested in.
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