Delivered September 1, 2019. Contributor: Methody G.
To provide an overview of the potential of cryptocurrency for future investors, including how to invest in it, the different platforms available to make online investments, and the risks associated with investing in cryptocurency.
The most recognizable cryptocurrency, Bitcoin, is a decentralized ledger system based on blockchain technology. This can potentially allow the user to pay anywhere using their virtual wallets.
Cryptocurrency can be very attractive to investors because of the fluctuation in prices. As such, if an investor invests at the right moment, they can make money quickly.
According to Parul Gurjal, CEO of Snowbalkl Money, it is imperative that the investor does not put all of his money into a single cryptocurrency. He should rather diversify his portfolio by carefully evaluating which coins have the potential to rise in valuation in the future, basically creating an index portfolio.
Another important factor is the platform one uses to invest. Professional platforms that have a RIA (Registered Investment Advisor) are usually more trustworthy and offer better security.
It is one of the biggest cryptocurrency trading platforms, with over 200 million customers and a daily transaction volume of $150 billion.