How To Invest in Cryptocurrency: Super Beginners Guide

Cryptocurrency has exploded in value over the last couple of years. From cents to thousands of dollars. Right now the bitcoin exchange rate is 1 BTC to about 10,000 USD. Ethereum is sitting at about 800 USD right now. So you might be considering investing in different types of cryptocurrency. Before you do that, it's very important to do your research and learn more about all cryptocurrency and how it works. You may even want to invest money in a few different types of cryptocurrency as well to diversify your investments. A good rule is to never put your investments into one area, spread them out so they have more chances to grow. The more familiar types of cryptocurrency are Bitcoin, which is the most popular one, Litcoin, and Ether. There are actually many more as well, and counting including Dash, Ripple, Peercoin and Dodgecoin. If you're new to cryptocurrency all together, you might not even know exactly what it is. To put it simply, cryptocurrency is a form of digital currency that is managed through using advanced encryption techniques called cryptography. Bitcoin was created back in 2008 as a way to put the control of money back in the people's hands instead of having an intermediary like a bank to deal with. In April 2013 it reached a spike of $266 per bitcoin, but then it took a plunge shortly afterwards. All cryptocurrency will have its ups and downs just like any new technology will so knowing that will help you be ready if you invest in bitcoin.

Since our world is becoming less economically safe, people are turning to cryptocurrencies like bitcoin trade to create more financial security for themselves. Some people even believe that all cryptocurrency will be the main form of payment in the future. The main thing about cryptocurrency that makes it so secure is that central governments can't take it away. Also, they are unable to create more cryptocurrency since there is a finite amount of it. There is only 21 million bitcoin available for example. So the value of bitcoin will only appreciate. Ameer Rosic who is an entrepreneur, investor, blockchain evangelist and the founder of BlockGeeks shares some information with us on how to invest in cryptocurrency. The number one thing he says is to understand what you're investing in. Like any investment, you should do your research and understand the risks associated with said investment. Take your time on this, you don't have to, and you should never jump into anything without having a firm grasp on it. Ameer says to take at least a couple of months to understand bitcoin trade and cryptocurrency.

Once you have a good understanding and grasp on it, you can then open an account for yourself on Coinbase or Kraken which are two of the more popular places you can open an account online. When you have your account all set up, deposit some money into it. Starting small is your best bet, so just deposit an amount under $500 to start. Many people assume that investing in bitcoin or all cryptocurrency is going to make them rich, but nothing is that easy. You still need a strategy and a plan. Then, get the two biggest cryptocurrencies right now, which are bitcoin and ethereum. Also, keep researching all cryptocurrency types beyond those two. Joining a group on Facebook is also a great idea to understand it all, Ameer recommends Cryptocurrency Club as one of the Facebook groups you can join. Listen to the entire video on his YouTube channel to find out how to invest in cryptocurrency the smart way.***