With a market cap of over $400 Billion, the world of cryptocurrency is rising. I will no doubt update this article in a few days to say ‘with a market cap of $1 Trillion’. This is the fastest rising alternative to central banking fiat money creation, ever to hit the planet.
Cryptocurrencies are evolving rapidly. Every week there are more services and ICO’s, platforms and start-ups being launched, each utilising there own form of blockchain technology to timestamp each transaction or service.
In 2017 alone the profits from cryptocurrencies have smashed all records. Allowing users to become there own bank and trade, buy and exchange value directly, peer-to-peer (P2P).
Some investors turning a $100 investment into $50,000 in a matter of a few months. Bitcoin is up over 80% since the start of 2017, Ethereum up over 5,000%, Litecoin up over 1,800%. According to this Guardian article, Kristoffer Koch invested 150 kroner ($26.60) in 5,000 bitcoins in 2009. At todays value of $15,000, his investment is worth $75,000,000.
So how can you get started using cryptocurrency? There are many pitfalls and with cryptocurrency tokens gaining value against traditional currency, there is quite some research to wade through. As with every new technology, safety procedures, password security and common sense come into play when investing time and your own money.
Save you a lot of research time and get you into cryptocurrencies avoiding the pitfalls.
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