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A beginner’s guide to Cryptocurrency

After investing, you need to gain profits. Therefore, it is important to keep up with top cryptocurrency news by reading.

We started with the bartering system where goods are exchanged according to each other’s wants, we then move on to currencies. Here is a new update that is taking the world by storm! Heard of cryptocurrencies? Well, it’s about time you learn about it.

What is cryptocurrency?
Cryptocurrency, often known as crypto-currency or crypto, is any type of digital or virtual currency that employs encryption to safeguard transactions. Cryptocurrency is a digital payment system that does not rely on banks for transaction verification. It’s a payment system that allows anybody, anywhere to send and receive money. Cryptocurrency payments exist solely as digital entries to an online database identifying specific transactions, rather than as tangible money carried around and exchanged in the real world. Transactions involving crypto funds are recorded in a public ledger. Digital wallets are where cryptocurrency is stored.

Types of cryptocurrenciesTop cryptocurrency news
There are a few different kinds of cryptocurrencies that are available all over the internet. It is important to get to know them and learn about their differences. The most commonly heard are Bitcoin and Altcoins. Altcoins are any other cryptocurrencies that are not Bitcoin which are Etherium, Litecoin, and Dogecoin, also known as the “meme coin”

How much to buy or invest?
It is always better to start small and learn as you go, one you are confident and know your way around cryptocurrencies you will have the confidence and instincts to invest and buy cryptocurrencies. You could also watch tutorials to learn about how to invest and earn money from crypto.

How to predict growths and falls?
After investing, you need to gain profits. Therefore, it is important to keep up with top cryptocurrency news. You should also read other daily news that will influence the share market and the raising and dropping of currencies all over the world to be able to decide. It does take some time but it is beneficial to you as you get to make a small income out of it.

Beware of scams
Unfortunately, cryptocurrencies are targeted by scammers to find their new victims. There are a few types of scams that have been identified, here is a list of them:
Fake websites: fake websites usually promise a large sum of profit and use complicated crypto jargon to confuse their victim. They also use fake testimonials to attract vulnerable and easily gullible people.
Romance scams: this does not only target crypto as it is quite common nowadays. Scammers will usually target single older people on social media and pretend to be in a relationship with the victim, once they have gained their victim’s trust and the time is right they would convince them to transfer a large amount then go missing and leave them.
You are almost an expert now! There is still a lot more to learn but this is a great start. Click here to learn more about crypto more in-depth.

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