Cryptocurrencies are booming the market with almost 800 Billion market capital, yes that Billion with a ‘B’. There are hundreds of them available to buy and trade. Cryptocurrencies are nothing but the digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. You may be seeing news about it now, but they existed for a long time. Bitcoin, created in 2009, was the first decentralized cryptocurrency. Since then, numerous other cryptocurrencies have been created.
There are many speculations about cryptocurrencies being illegal and non-reliable. I personally agree with some and some are just not true. Bitcoin is the father of all, but it wasn’t performing that well when it was launched. I struggled its way out of it with some. There are news and comments about trading in bitcoin for illegal arms and drugs. As per I know from watching Narcos & War Dogs how much money is being handled in one deal is huge, maybe that explains why Bitcoin holds $300 Billion out of $800 Billon.
Now about the how we can invest in these. Investing in bitcoin is still risky as most of the government already declared it illegal because of its reputation. But there are some who are just cool with it. Vanuatu is allowing the interested person to buy their citizenship using bitcoin. Well to let you know Vanuatu is not any third world country with low assets. Vanuatu’s passport ranked 34th most powerful as you can travel visa-free to whole European countries, Britain and Russia. They ranked 4th happiest country and its beautiful country also. But buying bitcoin is just not possible for everyone. So, there are some other which can help you start your first buy in the digital currency.
Ripple is the 2nd largest cryptocurrency with the market cap of $120 Billion. One Ripple cost around $3 – $4 which makes it 180 to 240 INR. Ripple is more convincing to me as its best blockchain ever made, with investors like Google Venture, Standard Chartered, Accenture and many more. As per yesterday’s news, the Founder of Ripple is wealthier than Google’s founders, that doesn’t relate but just for the info.
Another one is Tron coin which also booming at the moment with less than dollar around 15 INR. I’m not suggesting to invest a huge amount of money in Cryptocurrency as of now as ist, not that matured yet in real-world uses. I and my friend found about Bitcoin in mid of 2013, at that time it was for $135 and still regret not buying it. That way you can put a small amount of money for long-term.
I hope that helped you guys with at least the basics of cryptocurrencies. If you like my blog don’t forget to subscribe to my newsletter for updates. Don’t forget to share it with your friends and family. If you have any doubts please feel free to comment or reach us on social media. Stay tuned for tech stuff directly from CES 2018. Peace.