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What are Crytocurrencies?
Why are they trending?
How can one invest?
[Thread]
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Why are they trending?
How can one invest?
[Thread]
What’s is cryptocurrency?
It is digital money which is completely virtual.
Cryptocurrencies can be used as form of payments that can be exchanged online for goods and services.
It is digital money which is completely virtual.
Cryptocurrencies can be used as form of payments that can be exchanged online for goods and services.
Why are transactions made with crypto prefered?
1. Transactions are fast, secure, digital and worldwide
2. It is not regulated, the government has no control over it, it thus avoids fees and exchange costs
1. Transactions are fast, secure, digital and worldwide
2. It is not regulated, the government has no control over it, it thus avoids fees and exchange costs
Why are they trending?
1. Cryptocurrencies are valuable because their supply is limited.
This means that if they say for example for a specific one only 1000 are available, if all are purchased not more will be issued (This will make them more valuable)
1. Cryptocurrencies are valuable because their supply is limited.
This means that if they say for example for a specific one only 1000 are available, if all are purchased not more will be issued (This will make them more valuable)
How many cryptocurrencies exist?
There are over 10 000 types of cryptocurrencies.
Cryptocurrency is divided into 2 groups, coins and tokens but I will focus on the most common coins.
There are over 10 000 types of cryptocurrencies.
Cryptocurrency is divided into 2 groups, coins and tokens but I will focus on the most common coins.
These coins include:
-Bitcoin: (This is the most well-known coin, other coins that have been developed after it are known as altcoins
)
-Ethereum
-Polkadot (DOT)
-Bitcoin cash
-Litecoin
-Ripple (XRP)
-Stellar (XLM)
-Cardan
-Dogecoin
-Binanace Coin (BNB) etc.
-Bitcoin: (This is the most well-known coin, other coins that have been developed after it are known as altcoins
)-Ethereum
-Polkadot (DOT)
-Bitcoin cash
-Litecoin
-Ripple (XRP)
-Stellar (XLM)
-Cardan
-Dogecoin
-Binanace Coin (BNB) etc.
Which crpto exchange apps can be used to buy crypo?
@LunoGlobal, @VALRdotcom, @eToro, @coinbase, @binance etc.
Its best to choose an app that has good customer service and security (Check the reviews)
Also check the min. amounts that are needed to buy the coins on the platforms
@LunoGlobal, @VALRdotcom, @eToro, @coinbase, @binance etc.
Its best to choose an app that has good customer service and security (Check the reviews)
Also check the min. amounts that are needed to buy the coins on the platforms
How do you buy crypto on the apps?
1. You will create an account on the exchange
2. Transfer real money to the "wallet"
3. Transfer the real money to buy the crypto of your choice.
One can also use one form of crypto to buy another form e.g. Buying Dogecoin using Bitcoin
1. You will create an account on the exchange
2. Transfer real money to the "wallet"
3. Transfer the real money to buy the crypto of your choice.
One can also use one form of crypto to buy another form e.g. Buying Dogecoin using Bitcoin
Is it safe to invest in crypto?
Investing in crypto risky because the market volatile and could crash.
But you know what they say?
High risk = Hight returns
Just depends on your risk appetite.
(Please do research about it before you invest
)
Investing in crypto risky because the market volatile and could crash.
But you know what they say?
High risk = Hight returns
Just depends on your risk appetite.
(Please do research about it before you invest
)
I hope this thread helped you to understand cryto better.
Please retweet so that the knowledge can be shared with others
Please retweet so that the knowledge can be shared with others
