Everything you need to know before you buy cryptocurrencies
You’ve been following cryptocurrencies for a while and seen Bitcoin rise in value from cents to their highest point of over a thousand dollars. You have been thinking about joining the crypto rush but your knowledge is very limited. You want to invest an amount of $500 and are probably wondering which cryptocurrencies to invest in.
However, before you buy, you should do your research in order to find out everything there is to know about cryptocurrencies. To help you, we have compiled our own research. Read on to find out more.
What is Bitcoin?
Bitcoin is a popular digital currency created and stored electronically. It is digital money that is not linked to any financial institution, banking or currency system which can be transferred between individuals without any financial intermediaries.
What makes Bitcoin valuable?
Bitcoin gets its value because many people want to trade and accept it. It follows the basic rules of supply and demand. As people hear about others making money from cryptocurrencies, they buy their own and this makes the price increase.
Is Bitcoin unique?
No. There are more than 1300 other cryptocurrencies that investors can buy.
For more detail : Everything you need to know before you buy cryptocurrencies
