How to Invest in Cryptocurrencies

How to Invest in Cryptocurrencies

Before investing, let’s see how Cryptocurrency works?

It works based on blockchain technology. It is not controlled by any single institution. Instead, it works as a record of digital transactions that are independent of central banks. It eliminates the middleman, such as a bank. It also allows buyers and sellers to transact business directly between each other. So you can’t go to a local bank or even a brokerage firm and buy cryptocurrency. Since it’s not well understood and is virtually unregulated, most financial institutions don’t want to deal with it. For that reason, it tends to function within its own network.

Important! “Cryptocurrencies weren’t designed to be investments” It is a medium of exchange, they have widely been seen as an alternative to sovereign currencies, like the dollar or euro.

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