Why and Why Not Invest in Cryptocurrencies?
Bitcoin was the first cryptocurrency which came into existence and thereafter around 1600+ cryptocurrencies has been launched with some unique feature for each coin.
Some of the reasons which I have experienced and would like to share, cryptocurrencies have been created on the decentralized platform – so users don’t require a third party to transfer cryptocurrency from one destination to another one, unlike fiat currency where a user need a platform like Bank to transfer money from one account to another. Cryptocurrency built on a very safe blockchain technology and almost nil chance to hack and steal your cryptocurrencies until you don’t share your some critical information.
You should always avoid buying cryptocurrencies at the high point of cryptocurrency-bubble. Many of us buy the cryptocurrencies at the peak in the hope to make quick money and fall victim to the hype of bubble and lose their money. It is better for users to do a lot of research before investing the money. It is always good to put your money in multiple cryptocurrencies instead of one as it has been noticed that few cryptocurrencies grow more, some average if other cryptocurrencies go in the red zone.
Cryptocurrencies to Focus
In 2014, Bitcoin holds the 90% market and rest of the cryptocurrencies holds the remaining 10%. In 2017, Bitcoin is still dominating the crypto market but its share has sharply fallen from 90% to 38% and Altcoins like Litecoin, Ethereum, Ripple has grown rapidly and captured the most of the market.
Bitcoin is still dominating the cryptocurrency market but not the only cryptocurrency which you need to consider while investing in cryptocurrency. Some of the major cryptocurrencies you must consider:
Bitcoin
Litecoin
Ripple
Ethereum
Tron
Civic
Golem
Monero
