The first cryptocurrency to come into existence was Bitcoin which was based on Blockchain technology. It was created in 2009 by an unknown person named Satoshi Nakamoto. As of the writing of this blog the Bitcoin blockchain had already 17 million bitcoin been mined. It is believed that 21 million bitcoins can be extracted. Other cryptocurrencies that are popular include Ethereum, Litecoin, Ripple, Golem, Civic, and hard forks of Bitcoin such as Bitcoin Cash as well as Bitcoin Gold.
It is recommended not to put all their funds in one crypto and avoid investing in the peak of the crypto bubble. It has been noted that the price has abruptly lowered in the height of the cryptocurrency bubble. Because the cryptocurrency market is a volatile, market, buyers must put in the amount they are able to risk because there is no influence by any government over cryptocurrency because it's an open-source cryptocurrency.
What are the reasons to invest in cryptocurrencies?
Bitcoin was the initial cryptocurrency to come into existence, and since then over 1600 different cryptocurrencies have been introduced with a distinct feature for each one.
A few of the reasons I've experienced and I would like to share with you that cryptocurrencies were created using a decentralized platform which means that users don't need an external party to transfer money from one place to another, in contrast to fiat currencies, where users requires a platform such as a bank to transfer funds in one bank account the other. Cryptocurrency is based on extremely secure blockchain technology and isn't at risk of being hacked and stealing your cryptocurrency until you do not share your crucial data.
It is best to avoid purchasing cryptocurrency during the height of the bubble. Many of us purchase cryptocurrencies during our peak times hoping to make money quickly, only to end up becoming a victim of the market and losing their investment. It is best for people to conduct extensive research prior to investing their money. It is always advisable to invest in several different cryptocurrencies instead of one because it has been observed that a few cryptos increase in value, while others are less even if the other cryptos fall into that red area. Get more info about Cryptocurrency sponsored guest posting blog in Nigeria.
Cryptocurrencies to Focus
The year 2014 was the most successful for Bitcoin. Bitcoin is the largest market, and the rest of the cryptos hold the remaining 10 percent. As of 2017, Bitcoin remains the dominant player in the market, however, its share has slowed from 95 percent to 38%, and Altcoins such Litecoin, Ethereum, Ripple have seen rapid growth and have captured the majority part of the marketplace.
Major altcoins, other than Bitcoin
As we have mentioned, Bitcoin is dominating the market, with a 38percent market share, followed by Ripple, Ethereum, Litecoin, Bitcoin Cash. Exchanges such as UnoDAX, Bitfinex, Kraken, Bitstamp have listed many different coins, including Golem, Civic, Raiden Network, Kyber Network, Basic Attention, 0X, Augur, Monero, Tron, and many more. If any of these coins are in your portfolio, then you should buy these coins.
However, you should only place your money into a market you are able to lose because the cryptocurrency market is highly unstable and there is no government the power to regulate it. More info about blockchain sponsored guest posting in Nigeria.
When should you buy it?
There is no set rule for when to purchase your favorite cryptocurrency. However, one should research the market stability. It is not advisable to invest during the height of a crypto bubble or when prices are crashing repeatedly. The best time to invest is when the price has remained steady at a lower value for a period of time.
The cryptocurrency market is one of the most popular investment areas and has provided better yields than gold, real estate, and stock markets over the years. You can purchase cryptocurrency and hold it over the long-term to earn excellent returns or opt for the short-term option to earn a fast profit, as we've seen the growth of a number of cryptocurrencies at more than 1000% in the past. As crypto is an unstable marketplace, it is not under the control of the government over the business. You must put your money in any cryptocurrency they are able to afford to lose.
For more info about Cryptocurrency blog in Nigeria, Visit here: https://www.cryptocoinblogger.com.ng